Allspring Global Investments Holdings LLC Trims Stake in Amerant Bancorp Inc. $AMTB

Key Points

• Allspring Global Investments trimmed its stake by 80.8% in Amerant Bancorp in Q4, selling 293,953 shares and leaving 69,954 shares valued at about $1.38 million (0.17% ownership).
• Several large institutions—including JPMorgan Chase, Millennium Management and Tudor Investment—materially increased their AMTB holdings recently, with hedge funds and other institutions now owning 42.11% of the stock.
• Amerant beat Q4 expectations with $0.53 EPS (vs. $0.43 est.) on $230.7M revenue; the company has a market cap of ~$974M, a P/E of 19.37, and pays a $0.09 quarterly dividend (≈1.5% yield).

Allspring Global Investments Holdings LLC trimmed its stake in Amerant Bancorp Inc. (NYSE:AMTB - Free Report) by 80.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,954 shares of the company's stock after selling 293,953 shares during the period. Allspring Global Investments Holdings LLC owned 0.17% of Amerant Bancorp worth $1,379,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. SG Americas Securities LLC increased its stake in Amerant Bancorp by 71.8% in the 4th quarter. SG Americas Securities LLC now owns 19,780 shares of the company's stock worth $386,000 after buying an additional 8,268 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Amerant Bancorp by 171.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 222,940 shares of the company's stock worth $4,296,000 after buying an additional 140,833 shares in the last quarter. Tudor Investment Corp ET AL increased its stake in Amerant Bancorp by 411.8% in the 3rd quarter. Tudor Investment Corp ET AL now owns 90,367 shares of the company's stock worth $1,741,000 after buying an additional 72,709 shares in the last quarter. Numerai GP LLC increased its stake in Amerant Bancorp by 65.4% in the 3rd quarter. Numerai GP LLC now owns 50,397 shares of the company's stock worth $971,000 after buying an additional 19,928 shares in the last quarter. Finally, Millennium Management LLC increased its stake in Amerant Bancorp by 756.2% in the 3rd quarter. Millennium Management LLC now owns 437,847 shares of the company's stock worth $8,437,000 after buying an additional 386,710 shares in the last quarter. 42.11% of the stock is currently owned by hedge funds and other institutional investors.

Amerant Bancorp Stock Up 1.4%

Shares of NYSE:AMTB opened at $24.22 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.86. Amerant Bancorp Inc. has a 12 month low of $15.62 and a 12 month high of $24.38. The company has a 50-day moving average price of $22.03 and a 200 day moving average price of $20.17. The company has a market cap of $974.19 million, a price-to-earnings ratio of 19.37 and a beta of 0.93.

Amerant Bancorp (NYSE:AMTB - Get Free Report) last announced its quarterly earnings results on Thursday, January 22nd. The company reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.10. Amerant Bancorp had a net margin of 7.75% and a return on equity of 7.78%. The firm had revenue of $230.71 million during the quarter.

Amerant Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.5%. Amerant Bancorp's dividend payout ratio (DPR) is presently 28.80%.

Insider Activity at Amerant Bancorp

In other Amerant Bancorp news, Director Odilon Almeida purchased 4,816 shares of the stock in a transaction that occurred on Tuesday, January 27th. The stock was purchased at an average price of $20.99 per share, with a total value of $101,087.84. Following the acquisition, the director owned 5,316 shares in the company, valued at approximately $111,582.84. The trade was a 963.20% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.37% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AMTB shares. Raymond James Financial increased their price target on Amerant Bancorp from $21.00 to $23.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 7th. Piper Sandler increased their price objective on shares of Amerant Bancorp from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Monday, January 26th. Wall Street Zen downgraded shares of Amerant Bancorp from a "buy" rating to a "hold" rating in a report on Sunday, March 1st. Keefe, Bruyette & Woods increased their price objective on shares of Amerant Bancorp from $21.00 to $23.00 and gave the company a "market perform" rating in a report on Wednesday, January 28th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Amerant Bancorp in a report on Friday, March 27th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $23.75.

About Amerant Bancorp

Amerant Bancorp is the bank holding company and parent of Amerant Bank, a community-oriented financial institution headquartered in Coral Gables, Florida. Amerant Bank delivers a comprehensive range of deposit and lending products to both retail and commercial clients, including checking and savings accounts, certificates of deposit, consumer mortgages, and business lines of credit. In addition, the company offers specialized services such as treasury management, international trade finance, foreign exchange, and asset-based lending to support the complex needs of corporate and high-net-worth customers.

Tracing its roots to the early 1980s, Amerant has grown through a combination of strategic acquisitions and organic expansion.

Want to see what other hedge funds are holding AMTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amerant Bancorp Inc. (NYSE:AMTB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.