Wellington Management Group LLP Increases Position in Amerant Bancorp Inc. $AMTB

Key Points

• Wellington Management Group LLP increased its stake in Amerant Bancorp by 1.3%, owning 5,590,839 shares valued at approximately $115.4 million as of the end of the last quarter.
• A quarterly dividend of $0.09 per share will be paid on August 29th, representing an annualized yield of 1.8% despite the company's negative payout ratio.
• Amerant Bancorp's stock is currently trading at $19.91, down 1.1%, with a 12-month price range of $16.21 to $26.24, and an average analyst rating of "Moderate Buy" with a consensus target price of $24.25.

Wellington Management Group LLP grew its position in shares of Amerant Bancorp Inc. (NASDAQ:AMTB - Free Report) by 1.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,590,839 shares of the company's stock after purchasing an additional 70,455 shares during the period. Wellington Management Group LLP owned 13.34% of Amerant Bancorp worth $115,395,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Amerant Bancorp by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 2,124,902 shares of the company's stock worth $43,858,000 after purchasing an additional 28,322 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Amerant Bancorp by 6.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,052,955 shares of the company's stock valued at $23,597,000 after purchasing an additional 66,816 shares during the period. Allspring Global Investments Holdings LLC grew its position in Amerant Bancorp by 11.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 533,740 shares of the company's stock valued at $11,016,000 after acquiring an additional 54,274 shares during the period. Northern Trust Corp raised its stake in shares of Amerant Bancorp by 24.2% in the fourth quarter. Northern Trust Corp now owns 348,650 shares of the company's stock worth $7,813,000 after acquiring an additional 67,837 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in Amerant Bancorp during the fourth quarter worth about $4,199,000. Hedge funds and other institutional investors own 42.11% of the company's stock.

Analyst Ratings Changes

AMTB has been the subject of a number of research reports. Piper Sandler lifted their target price on Amerant Bancorp from $25.00 to $26.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Raymond James Financial downgraded shares of Amerant Bancorp from an "outperform" rating to a "market perform" rating in a report on Thursday, April 24th. Keefe, Bruyette & Woods boosted their price objective on shares of Amerant Bancorp from $20.00 to $22.00 and gave the company a "market perform" rating in a research note on Monday, July 28th. Finally, Stephens reiterated an "overweight" rating and issued a $24.00 target price on shares of Amerant Bancorp in a research report on Tuesday, April 29th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Amerant Bancorp has an average rating of "Moderate Buy" and a consensus target price of $24.25.

Amerant Bancorp Stock Down 1.1%

Shares of AMTB opened at $19.91 on Friday. 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 firm has a market capitalization of $831.22 million, a P/E ratio of -34.93 and a beta of 1.37. The firm has a fifty day moving average price of $19.07 and a 200-day moving average price of $19.47.

Amerant Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued 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 1.8%. Amerant Bancorp's payout ratio is -180.00%.

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.

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