SG Americas Securities LLC Purchases 6,817 Shares of Amerant Bancorp Inc. (NASDAQ:AMTB)

SG Americas Securities LLC increased its position in Amerant Bancorp Inc. (NASDAQ:AMTB) by 77.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,590 shares of the company’s stock after purchasing an additional 6,817 shares during the quarter. SG Americas Securities LLC’s holdings in Amerant Bancorp were worth $333,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its holdings in Amerant Bancorp by 23.9% during the second quarter. The Manufacturers Life Insurance Company now owns 11,998 shares of the company’s stock worth $272,000 after buying an additional 2,316 shares during the period. Squarepoint Ops LLC purchased a new stake in Amerant Bancorp during the second quarter worth $281,000. Renaissance Technologies LLC purchased a new stake in Amerant Bancorp during the second quarter worth $250,000. Dimensional Fund Advisors LP lifted its holdings in Amerant Bancorp by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 864,437 shares of the company’s stock worth $19,621,000 after buying an additional 72,028 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Amerant Bancorp by 10.9% during the second quarter. Rhumbline Advisers now owns 46,973 shares of the company’s stock worth $1,066,000 after buying an additional 4,622 shares during the period. Institutional investors own 42.11% of the company’s stock.

Amerant Bancorp Price Performance

Shares of AMTB opened at $20.95 on Friday. The business’s 50-day moving average is $20.92 and its two-hundred day moving average is $21.84. The company has a market capitalization of $706.35 million, a P/E ratio of 30.81 and a beta of 0.99. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.97. Amerant Bancorp Inc. has a fifty-two week low of $16.63 and a fifty-two week high of $27.00.

Amerant Bancorp (NASDAQ:AMTB) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.07). Amerant Bancorp had a return on equity of 7.78% and a net margin of 3.15%. The company had revenue of $98.78 million for the quarter, compared to analyst estimates of $93.19 million. During the same period in the prior year, the business posted $0.24 earnings per share. Research analysts predict that Amerant Bancorp Inc. will post 1.15 earnings per share for the current year.

Amerant Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend was Thursday, August 15th. Amerant Bancorp’s dividend payout ratio (DPR) is presently 52.94%.

Wall Street Analyst Weigh In

Several analysts have recently commented on AMTB shares. Stephens upgraded Amerant Bancorp from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $24.00 to $25.00 in a report on Monday, September 30th. Janney Montgomery Scott lowered Amerant Bancorp from a “buy” rating to a “neutral” rating and set a $25.00 price objective for the company. in a report on Friday, July 26th. Keefe, Bruyette & Woods decreased their price objective on Amerant Bancorp from $26.00 to $24.00 and set a “market perform” rating for the company in a report on Monday, July 29th. Raymond James reduced their target price on Amerant Bancorp from $27.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Finally, Piper Sandler upgraded Amerant Bancorp from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $26.00 to $26.50 in a research note on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Amerant Bancorp has a consensus rating of “Moderate Buy” and an average price target of $25.10.

Amerant Bancorp Company 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.