Sei Investments Co. Acquires 39,971 Shares of Amerant Bancorp Inc. $AMTB

Key Points

• Sei Investments increased its Amerant Bancorp stake by 25.2% in the first quarter, purchasing 39,971 additional shares and bringing its holdings to 198,326 shares, valued at approximately $4.37 million. Institutional investors collectively own 42.11% of the stock.
• Analyst sentiment is moderately positive, with Amerant receiving an average “Moderate Buy” rating and a consensus price target of $26.33. Keefe, Bruyette & Woods raised its target to $31, while individual ratings ranged from Hold to Strong Buy.
• Amerant reported quarterly EPS of $0.53, exceeding the $0.39 consensus estimate, on revenue of $183.31 million. The company also declared a quarterly dividend of $0.09 per share, representing a 1.2% yield.

Sei Investments Co. lifted its stake in Amerant Bancorp Inc. (NYSE:AMTB - Free Report) by 25.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,326 shares of the company's stock after purchasing an additional 39,971 shares during the period. Sei Investments Co. owned 0.50% of Amerant Bancorp worth $4,371,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. State of Wyoming grew its holdings in Amerant Bancorp by 148.6% during the first quarter. State of Wyoming now owns 9,941 shares of the company's stock valued at $219,000 after purchasing an additional 5,942 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Amerant Bancorp by 10.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,388,926 shares of the company's stock worth $30,611,000 after buying an additional 133,050 shares during the period. Swiss National Bank lifted its position in shares of Amerant Bancorp by 8.1% during the 1st quarter. Swiss National Bank now owns 73,537 shares of the company's stock valued at $1,621,000 after buying an additional 5,500 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Amerant Bancorp by 12.6% during the 1st quarter. Bank of New York Mellon Corp now owns 146,319 shares of the company's stock valued at $3,225,000 after buying an additional 16,343 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new position in shares of Amerant Bancorp during the 1st quarter valued at approximately $1,214,000. 42.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on AMTB. Keefe, Bruyette & Woods raised their target price on shares of Amerant Bancorp from $26.00 to $31.00 and gave the stock a "market perform" rating in a research note on Monday. Weiss Ratings cut shares of Amerant Bancorp from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, July 2nd. Wall Street Zen upgraded shares of Amerant Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, May 23rd. Finally, Zacks Research upgraded shares of Amerant Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Amerant Bancorp has an average rating of "Moderate Buy" and an average target price of $26.33.

Amerant Bancorp Stock Performance

AMTB opened at $29.52 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 21.23 and a beta of 0.87. The company has a fifty day moving average of $25.34 and a 200 day moving average of $23.37. Amerant Bancorp Inc. has a fifty-two week low of $15.62 and a fifty-two week high of $30.60.

Amerant Bancorp (NYSE:AMTB - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.39 by $0.14. Amerant Bancorp had a net margin of 8.76% and a return on equity of 8.30%. The business had revenue of $183.31 million for the quarter, compared to analysts' expectations of $98.64 million. As a group, sell-side analysts forecast that Amerant Bancorp Inc. will post 2.22 earnings per share for the current fiscal year.

Amerant Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, August 14th. Amerant Bancorp's payout ratio is 25.90%.

About Amerant Bancorp

Amerant Bancorp is the bank holding company and parent of Amerant Bank, a community-oriented financial institution headquartered in Coral Gables, Florida. Amerant Bank delivers a comprehensive range of deposit and lending products to both retail and commercial clients, including checking and savings accounts, certificates of deposit, consumer mortgages, and business lines of credit. In addition, the company offers specialized services such as treasury management, international trade finance, foreign exchange, and asset-based lending to support the complex needs of corporate and high-net-worth customers.

Tracing its roots to the early 1980s, Amerant has grown through a combination of strategic acquisitions and organic expansion.

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