Amerant Bancorp Inc. (NASDAQ: AMTB) sees significant drop in short-term interest
Amerant Bancorp Inc. (NASDAQ: AMTB) was the target of a significant cut in short interest rates in November. As of November 30, there was short interest totaling 286,700 shares, a decrease of 35.4% from the total of 444,000 shares as of November 15. Currently, 1.5% of the company’s shares are sold short. Based on an average daily trading volume of 77,600 shares, the day-to-coverage ratio is currently 3.7 days.
In other Amerant Bancorp news, Director Millar Wilson sold 30,769 shares of the company in a trade on Wednesday, November 17. The stock was sold for an average price of $ 29.97, for a total value of $ 922,146.93. The sale was disclosed in a file with the Securities & Exchange Commission, which is available on the SEC website. In addition, Director A. Gustavo J. Vollmer sold 2,630 shares of the company in a trade on Monday, December 13. The shares were sold for an average price of $ 29.93, for a total value of $ 78,715.90. Disclosure of this sale can be found here. Insiders bought 600 shares of the company worth $ 16,084 during the last quarter. 17.15% of the shares are currently held by insiders.
A number of hedge funds and other institutional investors have recently changed their positions in AMTB. Wellington Management Group LLP increased its stake in Amerant Bancorp by 34.2% in the 3rd quarter. Wellington Management Group LLP now owns 2,327,877 shares of the company valued at $ 57,592,000 after acquiring an additional 593,417 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Amerant Bancorp by 136.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 140,835 shares of the company valued at $ 3,011,000 after acquiring an additional 81,156 shares during the last quarter. Marshall Wace LLP increased its stake in Amerant Bancorp by 493.6% in the 2nd quarter. Marshall Wace LLP now owns 64,817 shares of the company valued at $ 1,386,000 after acquiring an additional 53,897 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Amerant Bancorp by 342.4% in the 3rd quarter. Goldman Sachs Group Inc. now owns 63,430 shares of the company valued at $ 1,569,000 after acquiring an additional 49,091 shares during the last quarter. Finally, Monarch Partners Asset Management LLC increased its stake in Amerant Bancorp by 75.3% in the 3rd quarter. Monarch Partners Asset Management LLC now owns 114,185 shares of the company valued at $ 2,825,000 after acquiring an additional 49,050 shares during the last quarter. Institutional investors and hedge funds hold 29.17% of the company’s shares.
AMTB shares opened at $ 33.77 on Friday. The stock’s 50-day simple moving average is $ 28.56 and its 200-day simple moving average is $ 25.13. The stock has a market cap of $ 1.27 billion, a price-to-earnings ratio of 23.29 and a beta of 1.05. The company has a leverage ratio of 1.15, a quick ratio of 0.95, and a current ratio of 0.99. Amerant Bancorp has a 52 week low of $ 13.63 and a 52 week high of $ 34.18.
Amerant Bancorp (NASDAQ: AMTB) last released its quarterly earnings data on Tuesday, October 19. The company reported earnings per share (EPS) of $ 0.45 for the quarter, beating analyst consensus estimates of $ 0.39 by $ 0.06. The company posted revenue of $ 65.26 million for the quarter, compared to analysts’ expectations of $ 61.42 million. Amerant Bancorp reported a return on equity of 7.88% and a net margin of 18.58%. In the same quarter of the previous year, the company posted EPS of $ 0.08. On average, research analysts forecast Amerant Bancorp to post earnings per share of 1.72 for the current fiscal year.
The company also recently announced an unavailable dividend, which will be paid on Saturday, January 15. Shareholders of record on Wednesday, December 22 will receive a dividend of $ 0.06. The ex-dividend date is Tuesday, December 21.
A number of brokerage firms have published reports on AMTB. Zacks Investment Research downgraded Amerant Bancorp from a “buy” rating to a “maintain” rating in a research note on Wednesday, October 6. Piper Sandler downgraded Amerant Bancorp from “neutral” to “overweight” and raised its price target for the company from $ 23.00 to $ 30.00 in a research report released on Monday August 30 . Stephens downgraded Amerant Bancorp from a “peer-to-peer” rating to an “overweight” rating in a research report published on Monday, November 8. Raymond James raised his price target on Amerant Bancorp from $ 30.00 to $ 31.00 and gave the company an “outperformance” rating in a research report published on Friday, October 22. Finally, TheStreet raised Amerant Bancorp from a “c” to a “b-” grade in a research report published on Monday, August 30. Three research analysts rated the stock with a conservation rating and five gave the company a buy rating. According to MarketBeat data, the company currently has a consensus rating of “Buy” and an average price target of $ 26.63.
About Amerant Bancorp
Amerant Bancorp, Inc. operates as a banking holding company, which provides banking products and services to individuals and businesses in the United States and around the world. The company offers a range of checking and savings accounts, certificates of deposit and money market accounts. It also provides variable and fixed rate commercial real estate loans, loans guaranteed by owner occupied properties, domestic and foreign personal loans mainly secured by personal residence, working capital loans, loans on assets, stakes in shared national credits, purchased receivables, and small business administration loans, loans to financial institutions and acceptances, and consumer loans and overdrafts, such as auto loans, loans personal or loans secured by cash or securities and revolving credit card agreements.
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