Amerant Bancorp Inc. (NASDAQ:AMTB) Position Raised by Millennium Management LLC

Millennium Management LLC increased its position in Amerant Bancorp Inc. (NASDAQ:AMTB - Free Report) by 941.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 117,958 shares of the company's stock after purchasing an additional 106,631 shares during the period. Millennium Management LLC owned 0.28% of Amerant Bancorp worth $2,643,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Amerant Bancorp by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 2,096,580 shares of the company's stock worth $46,984,000 after purchasing an additional 87,136 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Amerant Bancorp by 6.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,052,955 shares of the company's stock valued at $23,597,000 after acquiring an additional 66,816 shares during the period. Kennedy Capital Management LLC boosted its stake in Amerant Bancorp by 40.2% in the fourth quarter. Kennedy Capital Management LLC now owns 936,963 shares of the company's stock valued at $20,997,000 after acquiring an additional 268,486 shares during the period. Geode Capital Management LLC boosted its stake in Amerant Bancorp by 12.0% in the fourth quarter. Geode Capital Management LLC now owns 822,553 shares of the company's stock valued at $18,438,000 after acquiring an additional 88,177 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in Amerant Bancorp by 47.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 479,466 shares of the company's stock valued at $10,745,000 after acquiring an additional 154,466 shares during the period. 42.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMTB has been the subject of a number of research reports. Keefe, Bruyette & Woods decreased their target price on Amerant Bancorp from $24.00 to $20.00 and set a "market perform" rating for the company in a research note on Friday, April 25th. Stephens restated an "overweight" rating and issued a $24.00 target price on shares of Amerant Bancorp in a research note on Tuesday, April 29th. Finally, Raymond James downgraded Amerant Bancorp from an "outperform" rating to a "market perform" rating in a research note on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $24.60.

Amerant Bancorp Stock Performance

Shares of AMTB traded down $0.18 during mid-day trading on Wednesday, reaching $17.16. 167,848 shares of the company's stock traded hands, compared to its average volume of 197,515. The business's 50-day moving average price is $17.93 and its 200-day moving average price is $21.16. The stock has a market capitalization of $717.79 million, a P/E ratio of -30.11 and a beta of 1.32. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.94 and a current ratio of 1.01. Amerant Bancorp Inc. has a 12 month low of $16.21 and a 12 month high of $27.00.

Amerant Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.10%. Amerant Bancorp's dividend payout ratio (DPR) is presently -60.00%.

Amerant Bancorp Company 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.