Jacobs Asset Management LLC Purchases New Stake in Amerant Bancorp Inc. (NASDAQ:AMTB)

Jacobs Asset Management LLC purchased a new stake in Amerant Bancorp Inc. (NASDAQ:AMTB) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 120,000 shares of the company’s stock, valued at approximately $2,564,000. Amerant Bancorp comprises 1.7% of Jacobs Asset Management LLC’s portfolio, making the stock its 19th largest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMTB. Jacobs Levy Equity Management Inc. boosted its stake in Amerant Bancorp by 35.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 51,598 shares of the company’s stock valued at $1,103,000 after purchasing an additional 13,403 shares during the period. Azora Capital LP acquired a new stake in Amerant Bancorp during the third quarter worth approximately $11,495,000. Banc Funds Co. LLC acquired a new stake in Amerant Bancorp in the third quarter valued at approximately $3,419,000. Verition Fund Management LLC acquired a new stake in Amerant Bancorp in the third quarter valued at approximately $7,392,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Amerant Bancorp by 74.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,017 shares of the company’s stock valued at $193,000 after buying an additional 3,845 shares during the last quarter. Institutional investors own 42.11% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Stephens upgraded Amerant Bancorp from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $24.00 to $25.00 in a research note on Monday, September 30th. Piper Sandler upped their price target on Amerant Bancorp from $26.50 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Raymond James lowered their price target on shares of Amerant Bancorp from $27.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.60.

Amerant Bancorp Stock Up 1.3 %

Shares of NASDAQ AMTB opened at $25.19 on Tuesday. The stock’s fifty day moving average is $22.15 and its 200 day moving average is $22.04. Amerant Bancorp Inc. has a 52 week low of $18.54 and a 52 week high of $27.00. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.94 and a current ratio of 1.01. The stock has a market capitalization of $1.06 billion, a P/E ratio of 18.70 and a beta of 1.01.

Amerant Bancorp (NASDAQ:AMTB) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.04. Amerant Bancorp had a positive return on equity of 5.73% and a negative net margin of 8.38%. The company had revenue of ($999.00) million during the quarter, compared to analyst estimates of $99.39 million. During the same quarter last year, the firm posted $0.64 EPS. Sell-side analysts forecast that Amerant Bancorp Inc. will post 1.22 earnings per share for the current fiscal year.

Amerant Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were paid a dividend of $0.09 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.36 annualized dividend and a yield of 1.43%. Amerant Bancorp’s dividend payout ratio (DPR) is -24.32%.

Amerant Bancorp Profile

Amerant Bancorp Inc operates as the bank holding company for Amerant Bank, N.A. that provides banking products and services to individuals and businesses in the United States and internationally. It offers checking, savings, business, and money market accounts; cash management services; and certificates of deposits.