Northern Trust Corp lifted its position in Amerant Bancorp Inc. (NASDAQ:AMTB - Free Report) by 24.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 348,650 shares of the company's stock after purchasing an additional 67,837 shares during the quarter. Northern Trust Corp owned about 0.83% of Amerant Bancorp worth $7,813,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the company. Sterling Capital Management LLC lifted its position in Amerant Bancorp by 1,000.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,167 shares of the company's stock valued at $26,000 after buying an additional 1,061 shares during the last quarter. Summit Investment Advisors Inc. lifted its position in Amerant Bancorp by 49.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,874 shares of the company's stock valued at $87,000 after buying an additional 1,286 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Amerant Bancorp by 7.9% in the third quarter. JPMorgan Chase & Co. now owns 23,261 shares of the company's stock valued at $497,000 after buying an additional 1,705 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Amerant Bancorp by 6.8% during the fourth quarter. Legal & General Group Plc now owns 31,606 shares of the company's stock worth $708,000 after purchasing an additional 2,003 shares in the last quarter. Finally, Corebridge Financial Inc. lifted its position in shares of Amerant Bancorp by 16.2% during the fourth quarter. Corebridge Financial Inc. now owns 18,410 shares of the company's stock worth $413,000 after purchasing an additional 2,560 shares in the last quarter. Hedge funds and other institutional investors own 42.11% of the company's stock.
Amerant Bancorp Stock Performance
Shares of NASDAQ:AMTB traded down $0.16 during midday trading on Friday, hitting $17.04. The stock had a trading volume of 229,622 shares, compared to its average volume of 195,241. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.18. Amerant Bancorp Inc. has a 1 year low of $16.21 and a 1 year high of $27.00. The stock has a 50 day moving average price of $18.54 and a two-hundred day moving average price of $21.52. The company has a market capitalization of $712.85 million, a PE ratio of -29.90 and a beta of 1.31.
Amerant Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, May 15th. Amerant Bancorp's payout ratio is currently -60.00%.
Analysts Set New Price Targets
AMTB has been the topic of several research reports. Stephens reissued an "overweight" rating and set a $24.00 price target on shares of Amerant Bancorp in a research report on Tuesday, April 29th. Raymond James cut shares of Amerant Bancorp from an "outperform" rating to a "market perform" rating in a research report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Amerant Bancorp from $24.00 to $20.00 and set a "market perform" rating on the stock in a research report on Friday, April 25th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Amerant Bancorp has an average rating of "Hold" and a consensus target price of $24.60.
Read Our Latest Research Report on AMTB
Amerant Bancorp Company Profile
(
Free Report)
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.
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