Amerant Bancorp Inc. (NASDAQ: AMTB – Get a rating) was the target of a sharp increase in short-term interest during the month of April. As of April 15, there was short interest totaling 517,200 shares, an increase of 22.0% from the March 31 total of 423,900 shares. Currently, 2.3% of the company’s shares are sold short. Based on an average trading volume of 139,800 shares, the short interest ratio is currently 3.7 days.
Separately, director A. Gustavo J. Vollmer sold 13,404 shares in a trade that took place on Friday, February 11. The stock was sold at an average price of $34.50, for a total transaction of $462,438.00. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. In addition, director Mr. Gustavo Marturet sold 2,189 shares in a transaction that took place on Monday, March 14. The shares were sold at an average price of $31.34, for a total value of $68,603.26. Disclosure of this sale can be found here. In the past three months, insiders have sold 36,175 shares of the company worth $1,224,598. 17.15% of the shares are currently held by insiders.
A number of hedge funds have recently increased or reduced their holdings in AMTB. Wellington Management Group LLP increased its stake in Amerant Bancorp by 34.2% during the third quarter. Wellington Management Group LLP now owns 2,327,877 shares of the company valued at $57,592,000 after purchasing an additional 593,417 shares last quarter. BlackRock Inc. increased its stake in Amerant Bancorp by 19.0% during the 4th quarter. BlackRock Inc. now owns 1,843,431 shares of the company valued at $63,691,000 after purchasing an additional 294,173 shares last quarter. Kennedy Capital Management Inc. acquired a new stake in Amerant Bancorp during the 4th quarter at a value of $8,027,000. State Street Corp increased its stake in Amerant Bancorp by 28.4% during the fourth quarter. State Street Corp now owns 490,213 shares of the company valued at $16,966,000 after purchasing an additional 108,477 shares last quarter. Finally, Geode Capital Management LLC increased its stake in Amerant Bancorp by 20.5% during the 4th quarter. Geode Capital Management LLC now owns 440,659 shares of the company valued at $15,224,000 after purchasing an additional 74,946 shares in the last quarter. 34.58% of the shares are held by hedge funds and other institutional investors.
A number of analysts have commented on the company. Raymond James cut his price target on Amerant Bancorp from $38.00 to $36.00 and set an “outperform” rating for the company in a Friday, April 22 research report. Truist Financial raised its price target on Amerant Bancorp from $30.00 to $35.00 in a Monday, January 24 research report. To finish, Zacks Investment Research upgraded Amerant Bancorp from a “hold” rating to a “buy” rating and set a price target of $31.00 for the company in a Tuesday, April 26 research report. One analyst rated the stock with a hold rating and five rated the company’s stock with a buy rating. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $30.17.
AMTB shares opened at $26.55 on Tuesday. Amerant Bancorp has a 1-year low of $19.27 and a 1-year high of $36.72. The company has a debt ratio of 1.12, a quick ratio of 0.99 and a current ratio of 1.02. The stock has a 50-day moving average of $30.36. The company has a market capitalization of $996.34 million, a PE ratio of 8.59 and a beta of 1.08.
Amerant Bancorp (NASDAQ:AMTB – Get a rating) last released its results on Wednesday, April 20. The company reported earnings per share (EPS) of $0.63 for the quarter, beating the Zacks consensus estimate of $0.41 by $0.22. Amerant Bancorp had a return on equity of 9.63% and a net margin of 30.65%. The company posted revenue of $69.67 million in the quarter, compared to $70.87 million expected by analysts. During the same period of the previous year, the company posted EPS of $0.39. As a group, analysts expect Amerant Bancorp to post earnings per share of 2.14 for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 31. Shareholders of record on Friday, May 13 will receive a dividend of $0.09. The ex-dividend date is Thursday, May 12. This represents a dividend of $0.36 on an annualized basis and a dividend yield of 1.36%. Amerant Bancorp’s payout ratio is currently 1.94%.
Amerant Bancorp Company Profile (Get a rating)
Amerant Bancorp Inc operates as a bank holding company for Amerant Bank, NA which provides personal and business banking products and services in the United States and abroad. The company offers checking, savings and money market accounts; and certificates of deposit. It also offers variable and fixed rate commercial real estate loans; loans secured by owner-occupied properties; loans to domestic and foreign individuals mainly secured by personal residence; working capital loans, asset-based loans, national credit share participations, purchased receivables and small business administration loans; loans to financial institutions and acceptances; and consumer loans and overdrafts, such as auto, personal, or secured by cash or securities and revolving credit card contracts.
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