Keefe, Bruyette & Woods Cuts Amerant Bancorp (NASDAQ:AMTB) Price Target to $20.00

Amerant Bancorp (NASDAQ:AMTB) had its price objective trimmed by Keefe, Bruyette & Woods from $22.00 to $20.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a market perform rating on the stock.

Other equities analysts have also issued reports about the company. Raymond James Financial set a $21.00 target price on Amerant Bancorp and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Piper Sandler dropped their target price on Amerant Bancorp from $26.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.75.

Amerant Bancorp Stock Performance

Amerant Bancorp stock opened at $17.36 on Monday. The firm has a market capitalization of $724.68 million, a P/E ratio of -30.45 and a beta of 1.30. The stock has a fifty day moving average price of $19.35 and a 200 day moving average price of $18.83. Amerant Bancorp has a 52 week low of $15.62 and a 52 week 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.

Amerant Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a dividend of $0.09 per share. The ex-dividend date is Friday, November 14th. This represents a $0.36 annualized dividend and a yield of 2.1%. Amerant Bancorp’s dividend payout ratio is currently 22.78%.

Institutional Investors Weigh In On Amerant Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in Amerant Bancorp by 1.3% during the first quarter. Wellington Management Group LLP now owns 5,590,839 shares of the company’s stock worth $115,395,000 after acquiring an additional 70,455 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Amerant Bancorp by 1.4% in the first quarter. Vanguard Group Inc. now owns 2,124,902 shares of the company’s stock valued at $43,858,000 after buying an additional 28,322 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Amerant Bancorp by 0.3% in the second quarter. Geode Capital Management LLC now owns 855,740 shares of the company’s stock valued at $15,602,000 after buying an additional 2,929 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC grew its stake in shares of Amerant Bancorp by 0.5% in the first quarter. Philadelphia Financial Management of San Francisco LLC now owns 563,973 shares of the company’s stock valued at $11,640,000 after buying an additional 2,809 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Amerant Bancorp by 3.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 550,683 shares of the company’s stock valued at $10,039,000 after buying an additional 16,943 shares in the last quarter. 42.11% of the stock is currently owned by institutional investors and hedge funds.

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.