Amerant Bancorp Inc. $AMTB Shares Sold by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC significantly reduced its holdings in Amerant Bancorp Inc., selling 148,765 shares and now owning just 38,625 shares, a decrease of 79.4%.
• Alongside Cubist, other large investors like Russell Investments Group Ltd. and GAMMA Investing LLC dramatically increased their positions in Amerant Bancorp, with increases of 1,965.6% and 5,275.3% respectively.
• Amerant Bancorp recently declared a quarterly dividend of $0.09 per share, leading to an annualized dividend yield of 1.7% despite a payout ratio of -180.00%.

Cubist Systematic Strategies LLC lessened its position in shares of Amerant Bancorp Inc. (NASDAQ:AMTB - Free Report) by 79.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 38,625 shares of the company's stock after selling 148,765 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.09% of Amerant Bancorp worth $797,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Penn Capital Management Company LLC acquired a new position in shares of Amerant Bancorp during the 1st quarter worth $249,000. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Amerant Bancorp during the 1st quarter worth $8,806,000. AlphaQuest LLC acquired a new position in shares of Amerant Bancorp during the 1st quarter worth $59,000. Rhino Investment Partners Inc acquired a new position in shares of Amerant Bancorp during the 1st quarter worth $2,763,000. Finally, Wellington Management Group LLP raised its stake in shares of Amerant Bancorp by 1.3% during the 1st quarter. Wellington Management Group LLP now owns 5,590,839 shares of the company's stock worth $115,395,000 after buying an additional 70,455 shares during the last quarter. Institutional investors and hedge funds own 42.11% of the company's stock.

Amerant Bancorp Trading Down 1.0%

Shares of NASDAQ AMTB traded down $0.21 on Monday, reaching $20.86. 139,172 shares of the company traded hands, compared to its average volume of 192,716. Amerant Bancorp Inc. has a fifty-two week low of $16.21 and a fifty-two week high of $26.24. The company has a 50 day moving average of $20.24 and a 200 day moving average of $19.19. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $870.88 million, a PE ratio of -36.60 and a beta of 1.43.

Amerant Bancorp Dividend Announcement

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

Analyst Ratings Changes

Several research firms have recently issued reports on AMTB. Piper Sandler lifted their price target on 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 boosted their target price on shares of Amerant Bancorp from $20.00 to $22.00 and gave the company a "market perform" rating in a research note on Monday, July 28th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.