Amerant Bancorp Inc. $AMTB Stock Position Trimmed by Maltese Capital Management LLC

Maltese Capital Management LLC trimmed its holdings in Amerant Bancorp Inc. (NYSE:AMTB) by 7.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 967,318 shares of the company’s stock after selling 75,286 shares during the period. Amerant Bancorp accounts for approximately 2.8% of Maltese Capital Management LLC’s holdings, making the stock its 2nd largest holding. Maltese Capital Management LLC’s holdings in Amerant Bancorp were worth $18,640,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMTB. Patriot Financial Partners GP II L.P. acquired a new position in shares of Amerant Bancorp during the 3rd quarter valued at about $44,621,000. Millennium Management LLC boosted its position in shares of Amerant Bancorp by 756.2% in the third quarter. Millennium Management LLC now owns 437,847 shares of the company’s stock worth $8,437,000 after acquiring an additional 386,710 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Amerant Bancorp by 171.5% in the third quarter. JPMorgan Chase & Co. now owns 222,940 shares of the company’s stock valued at $4,296,000 after purchasing an additional 140,833 shares during the period. Bridgeway Capital Management LLC increased its position in Amerant Bancorp by 117.4% during the third quarter. Bridgeway Capital Management LLC now owns 250,341 shares of the company’s stock worth $4,824,000 after purchasing an additional 135,195 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Amerant Bancorp by 2.9% during the third quarter. Vanguard Group Inc. now owns 2,218,070 shares of the company’s stock worth $42,742,000 after purchasing an additional 61,504 shares during the last quarter. Hedge funds and other institutional investors own 42.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AMTB shares. Keefe, Bruyette & Woods lifted their price target on shares of Amerant Bancorp from $21.00 to $23.00 and gave the company a “market perform” rating in a report on Wednesday, January 28th. Raymond James Financial boosted their price target on Amerant Bancorp from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, January 7th. Zacks Research downgraded Amerant Bancorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 27th. Wall Street Zen lowered Amerant Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, March 1st. Finally, Piper Sandler boosted their target price on Amerant Bancorp from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $23.75.

Insider Activity at Amerant Bancorp

In related news, Director Odilon Almeida bought 4,816 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The shares were acquired at an average cost of $20.99 per share, for a total transaction of $101,087.84. Following the acquisition, the director owned 5,316 shares in the company, valued at $111,582.84. This represents a 963.20% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 5.37% of the company’s stock.

Amerant Bancorp Stock Performance

NYSE:AMTB opened at $20.90 on Tuesday. The firm’s fifty day simple moving average is $21.57 and its 200 day simple moving average is $20.04. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.86. Amerant Bancorp Inc. has a twelve month low of $15.62 and a twelve month high of $23.55. The firm has a market capitalization of $862.38 million, a price-to-earnings ratio of 16.72 and a beta of 1.00.

Amerant Bancorp (NYSE:AMTB) last announced its quarterly earnings results on Thursday, January 22nd. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.10. Amerant Bancorp had a return on equity of 7.78% and a net margin of 7.75%.The firm had revenue of $230.71 million during the quarter.

Amerant Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were paid a $0.09 dividend. The ex-dividend date was Friday, February 13th. 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 28.80%.

Amerant Bancorp Profile

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.