Amerant Bancorp Inc. (NASDAQ:AMTB) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its position in Amerant Bancorp Inc. (NASDAQ:AMTB) by 13.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 734,376 shares of the company’s stock after purchasing an additional 87,696 shares during the quarter. Geode Capital Management LLC’s holdings in Amerant Bancorp were worth $15,697,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new position in Amerant Bancorp in the 3rd quarter valued at about $65,000. US Bancorp DE lifted its stake in shares of Amerant Bancorp by 655.8% in the third quarter. US Bancorp DE now owns 3,212 shares of the company’s stock worth $69,000 after acquiring an additional 2,787 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Amerant Bancorp by 30.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,172 shares of the company’s stock worth $117,000 after acquiring an additional 1,197 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Amerant Bancorp in the third quarter valued at about $247,000. Finally, Renaissance Technologies LLC acquired a new stake in Amerant Bancorp during the 2nd quarter valued at approximately $250,000. 42.11% of the stock is owned by institutional investors and hedge funds.

Amerant Bancorp Stock Performance

AMTB stock opened at $22.33 on Monday. The stock’s 50 day simple moving average is $23.48 and its 200 day simple moving average is $22.29. Amerant Bancorp Inc. has a 12-month low of $18.54 and a 12-month high of $27.00. The firm has a market cap of $940.27 million, a P/E ratio of -15.09 and a beta of 1.01. 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 (NASDAQ:AMTB) last issued its earnings results on Wednesday, October 23rd. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. Amerant Bancorp had a negative net margin of 8.38% and a positive return on equity of 5.73%. The company had revenue of ($999.00) million for the quarter, compared to analysts’ expectations of $99.39 million. During the same period in the prior year, the company earned $0.64 earnings per share. As a group, equities research analysts predict that Amerant Bancorp Inc. will post 1.22 EPS for the current year.

Amerant Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Thursday, November 14th. Amerant Bancorp’s payout ratio is -24.32%.

Analyst Ratings Changes

AMTB has been the topic of a number of recent analyst reports. Raymond James cut their target price on Amerant Bancorp from $27.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Piper Sandler upped their price target on shares of Amerant Bancorp from $26.50 to $29.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods raised their price objective on shares of Amerant Bancorp from $24.00 to $28.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Stephens upgraded shares of Amerant Bancorp from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $24.00 to $25.00 in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.40.

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.