Penn Capital Management Company LLC Makes New Investment in Amerant Bancorp Inc. $AMTB

Key Points

• Penn Capital Management Company LLC purchased 12,065 shares of Amerant Bancorp Inc., valued at approximately $249,000, during the first quarter.
• Amerant Bancorp's updated price targets from analysts range from $22.00 to $26.00, with an average rating of "Moderate Buy" based on recent reports.
• The company declared a quarterly dividend of $0.09 per share, with a dividend yield of 1.7%, reflecting a payout ratio of -180.00%.

Penn Capital Management Company LLC bought a new position in shares of Amerant Bancorp Inc. (NASDAQ:AMTB - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 12,065 shares of the company's stock, valued at approximately $249,000.

Several other hedge funds have also modified their holdings of the stock. SummerHaven Investment Management LLC increased its holdings in shares of Amerant Bancorp by 1.8% in the first quarter. SummerHaven Investment Management LLC now owns 34,280 shares of the company's stock valued at $708,000 after purchasing an additional 620 shares in the last quarter. GAMMA Investing LLC boosted its position in Amerant Bancorp by 160.4% in the 1st quarter. GAMMA Investing LLC now owns 1,211 shares of the company's stock valued at $25,000 after buying an additional 746 shares during the last quarter. Swiss National Bank increased its stake in shares of Amerant Bancorp by 1.4% in the 1st quarter. Swiss National Bank now owns 66,837 shares of the company's stock valued at $1,380,000 after buying an additional 900 shares during the period. Sterling Capital Management LLC increased its stake in shares of Amerant Bancorp by 1,000.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,167 shares of the company's stock valued at $26,000 after buying an additional 1,061 shares during the period. Finally, CWM LLC raised its position in shares of Amerant Bancorp by 241.0% during the first quarter. CWM LLC now owns 1,579 shares of the company's stock worth $33,000 after acquiring an additional 1,116 shares during the last quarter. 42.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AMTB has been the topic of several recent research reports. Keefe, Bruyette & Woods raised their price target on Amerant Bancorp from $20.00 to $22.00 and gave the company a "market perform" rating in a report on Monday, July 28th. Piper Sandler upped their target price 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. Finally, Stephens reiterated an "overweight" rating and set a $24.00 price target on shares of Amerant Bancorp in a research report on Tuesday, April 29th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $24.25.

Amerant Bancorp Trading Up 6.6%

NASDAQ AMTB opened at $21.2860 on Friday. Amerant Bancorp Inc. has a 12 month low of $16.21 and a 12 month high of $26.24. The stock has a 50-day simple moving average of $19.15 and a 200 day simple moving average of $19.43. 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 company has a market capitalization of $888.67 million, a PE ratio of -37.34 and a beta of 1.37.

Amerant Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a $0.09 dividend. The ex-dividend date of this dividend is 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 -180.00%.

About Amerant Bancorp

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.

Want to see what other hedge funds are holding AMTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amerant Bancorp Inc. (NASDAQ:AMTB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.