Penn Capital Management Company LLC Acquires Shares of 12,065 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) in 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 institutional investors and hedge funds have also bought and sold shares of the stock. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Amerant Bancorp during the first quarter valued at approximately $8,806,000. Cubist Systematic Strategies LLC bought a new stake in shares of Amerant Bancorp during the 4th quarter valued at $4,199,000. Nuveen LLC bought a new position in Amerant Bancorp in the 1st quarter worth $2,836,000. Rhino Investment Partners Inc bought a new position in Amerant Bancorp in the 1st quarter worth $2,763,000. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Amerant Bancorp by 216.7% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 163,435 shares of the company's stock worth $3,663,000 after buying an additional 111,837 shares during the period. 42.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMTB has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upped their target price on shares of Amerant Bancorp from $20.00 to $22.00 and gave the stock 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 stock an "overweight" rating in a report on Monday, July 28th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $24.25.

Amerant Bancorp Trading Up 0.5%

Amerant Bancorp stock traded up $0.11 during midday trading on Friday, reaching $21.61. The stock had a trading volume of 19,126 shares, compared to its average volume of 197,021. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.18. Amerant Bancorp Inc. has a 52-week low of $16.21 and a 52-week high of $26.24. The firm has a market cap of $902.20 million, a price-to-earnings ratio of -37.92 and a beta of 1.37. The company has a fifty day moving average of $19.53 and a 200 day moving average of $19.41.

Amerant Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a dividend of $0.09 per share. 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 (DPR) 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.