American Century Companies Inc. Lowers Position in Amerant Bancorp Inc. $AMTB

Key Points

• American Century Companies Inc. has reduced its stake in Amerant Bancorp Inc. by 22.3%, selling 81,574 shares during the 1st quarter, leaving it with approximately 284,086 shares valued at $5.86 million.
• Several other institutional investors, such as GAMMA Investing LLC and CWM LLC, have significantly increased their stakes in Amerant Bancorp, indicating growing interest in the company's stock.
• Amerant Bancorp has declared a quarterly dividend of $0.09 per share, reflecting a 1.7% dividend yield, although the company’s dividend payout ratio is notably negative at -180.00%.

American Century Companies Inc. trimmed its position in Amerant Bancorp Inc. (NASDAQ:AMTB - Free Report) by 22.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 284,086 shares of the company's stock after selling 81,574 shares during the quarter. American Century Companies Inc. owned approximately 0.68% of Amerant Bancorp worth $5,864,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of AMTB. Cubist Systematic Strategies LLC acquired a new stake in shares of Amerant Bancorp in the 4th quarter valued at $4,199,000. Nuveen LLC acquired a new stake in shares of Amerant Bancorp in the 1st quarter valued at $2,836,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of Amerant Bancorp by 216.7% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 163,435 shares of the company's stock valued at $3,663,000 after purchasing an additional 111,837 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Amerant Bancorp by 941.4% in the 4th quarter. Millennium Management LLC now owns 117,958 shares of the company's stock valued at $2,643,000 after purchasing an additional 106,631 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Amerant Bancorp by 489.7% in the 4th quarter. Ameriprise Financial Inc. now owns 89,369 shares of the company's stock valued at $2,003,000 after purchasing an additional 74,214 shares in the last quarter. 42.11% of the stock is currently owned by institutional investors and hedge funds.

Amerant Bancorp Stock Performance

NASDAQ AMTB traded down $0.04 during trading on Wednesday, reaching $21.22. The company's stock had a trading volume of 113,907 shares, compared to its average volume of 196,710. 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 firm has a market cap of $885.71 million, a price-to-earnings ratio of -37.22 and a beta of 1.43. Amerant Bancorp Inc. has a twelve month low of $16.21 and a twelve month high of $26.24. The business's fifty day moving average price is $19.86 and its 200-day moving average price is $19.34.

Amerant Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a $0.09 dividend. The ex-dividend date was Friday, August 15th. This represents a $0.36 dividend on an annualized basis and a yield of 1.7%. Amerant Bancorp's payout ratio is currently -180.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AMTB shares. Piper Sandler lifted their price target on shares of Amerant Bancorp from $25.00 to $26.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Keefe, Bruyette & Woods lifted their price target on shares of Amerant Bancorp from $20.00 to $22.00 and gave the stock a "market perform" rating in a research note on Monday, July 28th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Amerant Bancorp has a consensus rating of "Moderate Buy" and an average price target of $24.25.

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.