Bank of America Corp DE Has $1.73 Million Stock Position in Amerant Bancorp Inc. $AMTB

Key Points

• Bank of America reduced its Amerant Bancorp stake by 40.5% in the first quarter, selling 53,465 shares and retaining 78,525 shares valued at approximately $1.73 million. Institutional investors and hedge funds collectively own 42.11% of AMTB.
• Analyst sentiment remains positive but mixed, with the stock carrying a consensus “Moderate Buy” rating and a $27.75 target price. Shares recently traded at $29.40, near the company’s 12-month high of $30.60.
• Amerant exceeded quarterly earnings expectations, reporting $0.53 in EPS versus a $0.39 estimate and $183.31 million in revenue. The company also paid a quarterly dividend of $0.09 per share, representing a 1.2% annualized yield.

Bank of America Corp DE lessened its stake in shares of Amerant Bancorp Inc. (NYSE:AMTB - Free Report) by 40.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 78,525 shares of the company's stock after selling 53,465 shares during the period. Bank of America Corp DE owned about 0.20% of Amerant Bancorp worth $1,731,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. North Reef Capital Management LP acquired a new position in Amerant Bancorp during the first quarter worth $25,577,000. Principal Financial Group Inc. acquired a new stake in Amerant Bancorp in the first quarter valued at $1,214,000. Sei Investments Co. lifted its stake in Amerant Bancorp by 25.2% in the first quarter. Sei Investments Co. now owns 198,326 shares of the company's stock valued at $4,371,000 after acquiring an additional 39,971 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Amerant Bancorp by 9.3% in the 4th quarter. Vanguard Group Inc. now owns 2,424,944 shares of the company's stock valued at $47,311,000 after acquiring an additional 206,874 shares during the period. Finally, UBS Group AG grew its position in shares of Amerant Bancorp by 35.0% in the 4th quarter. UBS Group AG now owns 130,932 shares of the company's stock valued at $2,554,000 after acquiring an additional 33,935 shares during the period. 42.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMTB has been the topic of a number of research analyst reports. Weiss Ratings cut shares of Amerant Bancorp from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, July 2nd. Wall Street Zen upgraded Amerant Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, May 23rd. Zacks Research raised Amerant Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 22nd. Stephens lowered Amerant Bancorp from an "overweight" rating to an "equal weight" rating and set a $32.00 price objective on the stock. in a research note on Wednesday, August 12th. Finally, Keefe, Bruyette & Woods raised their price objective on Amerant Bancorp from $26.00 to $31.00 and gave the company a "market perform" rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $27.75.

Amerant Bancorp Trading Up 0.8%

Shares of AMTB stock opened at $29.40 on Friday. The firm has a 50 day moving average price of $27.70 and a two-hundred day moving average price of $24.40. The company has a quick ratio of 0.84, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $1.15 billion, a PE ratio of 21.15 and a beta of 0.83. Amerant Bancorp Inc. has a 12-month low of $15.62 and a 12-month high of $30.60.

Amerant Bancorp (NYSE:AMTB - Get Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.39 by $0.14. Amerant Bancorp had a return on equity of 8.30% and a net margin of 8.76%.The company had revenue of $183.31 million for the quarter, compared to the consensus estimate of $98.64 million. As a group, analysts predict that Amerant Bancorp Inc. will post 2.22 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 28th. Stockholders of record on Friday, August 14th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, August 14th. Amerant Bancorp's payout ratio is presently 25.90%.

Amerant Bancorp Profile

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.

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