Jacobs Levy Equity Management Inc. Reduces Position in Amerant Bancorp Inc. $AMTB

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in Amerant Bancorp Inc. by 43.7%, owning approximately 91,956 shares valued at about $1.90 million after offloading 71,479 shares in the first quarter.
• A number of institutional investors, including EJF Capital LLC and AQR Capital Management LLC, increased their stakes in Amerant Bancorp during the same period, reflecting growing interest in the stock.
• Amerant Bancorp recently declared a quarterly dividend of $0.09, with a yield of 1.7%, although its payout ratio is currently at a negative 180.00%.

Jacobs Levy Equity Management Inc. decreased its holdings in shares of Amerant Bancorp Inc. (NASDAQ:AMTB - Free Report) by 43.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 91,956 shares of the company's stock after selling 71,479 shares during the period. Jacobs Levy Equity Management Inc. owned 0.22% of Amerant Bancorp worth $1,898,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Amerant Bancorp during the first quarter valued at approximately $8,806,000. Nuveen LLC bought a new stake in shares of Amerant Bancorp during the first quarter valued at approximately $2,836,000. Rhino Investment Partners Inc bought a new stake in shares of Amerant Bancorp during the first quarter valued at approximately $2,763,000. Millennium Management LLC increased its position in shares of Amerant Bancorp by 941.4% during the fourth quarter. Millennium Management LLC now owns 117,958 shares of the company's stock valued at $2,643,000 after acquiring an additional 106,631 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Amerant Bancorp by 489.7% during the fourth quarter. Ameriprise Financial Inc. now owns 89,369 shares of the company's stock valued at $2,003,000 after acquiring an additional 74,214 shares in the last quarter. Institutional investors own 42.11% of the company's stock.

Analyst Ratings Changes

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

Amerant Bancorp Stock Performance

AMTB stock traded down $0.33 on Tuesday, hitting $20.57. The company had a trading volume of 198,982 shares, compared to its average volume of 192,752. Amerant Bancorp Inc. has a 12-month low of $16.21 and a 12-month high of $26.24. 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's 50-day simple moving average is $20.25 and its 200 day simple moving average is $19.20. The stock has a market cap of $858.78 million, a price-to-earnings ratio of -36.09 and a beta of 1.43.

Amerant Bancorp Dividend Announcement

The firm also recently declared 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. This represents a $0.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, August 15th. Amerant Bancorp's dividend payout ratio (DPR) is currently -180.00%.

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.