Amerant Bancorp Inc. (NASDAQ:AMTB) will issue a quarterly dividend of $0.09
Amerant Bancorp Inc. (NASDAQ:AMTB) announced a quarterly dividend on Friday, January 21, reports The Wall Street Journal. Investors of record on Friday February 11 will receive a dividend of 0.09 per share on Monday February 28. This represents a dividend of $0.36 on an annualized basis and a yield of 1.06%. The ex-date of this dividend is Thursday, February 10.
Amerant Bancorp has a dividend payout ratio of 10.4%, which means its dividend is sufficiently covered by earnings. Research analysts expect Amerant Bancorp to earn $2.03 per share next year, meaning the company should continue to be able to cover its $0.24 annual dividend with a ratio expected future payout of 11.8%.
The NASDAQ AMTB traded down $0.33 on Friday, hitting $33.81. The company had a trading volume of 138,207 shares, compared to an average volume of 92,346. The company has a market capitalization of $1.27 billion, a price-earnings ratio of 23.09 and a beta of 1.10. . Amerant Bancorp has a fifty-two week low of $13.63 and a fifty-two week high of $36.72. The company has a 50-day moving average of $32.46 and a two-hundred-day moving average of $27.21. The company has a debt ratio of 1.15, a current ratio of 0.99 and a quick ratio of 0.95.
Amerant Bancorp Inc (NASDAQ:AMTB) last released quarterly earnings data on Wednesday, January 19. The company reported earnings per share of $0.52 for the quarter, beating the Zacks consensus estimate of $0.40 by $0.12. Amerant Bancorp had a return on equity of 7.88% and a net margin of 18.58%. In the same period a year earlier, the company had earned earnings per share of $0.27. As a group, research analysts predict Amerant Bancorp will post 1.72 earnings per share for the current fiscal year.
In related news, Director A. Gustavo J. Vollmer sold 2,630 shares of Amerant Bancorp in a trade that took place on Monday, December 13. The shares were sold at an average price of $29.93, for a total value of $78,715.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. Additionally, director Millar Wilson sold 30,769 shares of the company in a trade on Wednesday, November 17. The shares were sold at an average price of $29.97, for a total transaction of $922,146.93. The disclosure of this sale can be found here. 17.15% of the shares are currently held by insiders of the company.
Hedge funds and other institutional investors have recently been buying and selling shares of the company. Royal Bank of Canada increased its stake in Amerant Bancorp by 10.5% in the third quarter. Royal Bank of Canada now owns 11,189 shares of the company worth $276,000 after buying an additional 1,060 shares in the last quarter. Invesco Ltd. increased its holdings in Amerant Bancorp by 7.4% during the third quarter. Invesco Ltd. now owns 22,433 shares of the company valued at $556,000 after purchasing an additional 1,538 shares during the period. BNP Paribas Arbitrage SA increased its stake in Amerant Bancorp shares by 108.2% during the third quarter. BNP Paribas Arbitrage SA now owns 5,815 shares in the company worth $144,000 after acquiring an additional 3,022 shares during the period. Bank of New York Mellon Corp increased its holdings of Amerant Bancorp shares by 8.3% during the third quarter. Bank of New York Mellon Corp now owns 77,218 shares of the company worth $1,910,000 after acquiring 5,927 additional shares during the period. Finally, Citadel Advisors LLC increased its stake in Amerant Bancorp shares by 28.4% during the third quarter. Citadel Advisors LLC now owns 50,776 shares of the company worth $1,257,000 after acquiring an additional 11,231 shares during the period. 31.13% of the shares are held by institutional investors.
AMTB has been the subject of a number of recent analyst reports. Stephens upgraded Amerant Bancorp from an “equal weight” rating to an “overweight” rating in a Monday, Nov. 8, report. Zacks Investment Research moved shares of Amerant Bancorp from a “hold” rating to a “strong-buy” rating and set a price target of $40.00 on the stock in a Tuesday research report January 4. Finally, Raymond James raised his price target on Amerant Bancorp shares from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday. One equity research analyst gave the stock a hold rating, five gave the stock a buy rating and one gave the stock a strong buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $29.43.
Amerant Bancorp Company Profile
Amerant Bancorp, Inc. operates as a bank holding company, which provides personal and corporate banking products and services in the United States and abroad. The company offers a range of checking and savings accounts, certificates of deposit and money market accounts. It also offers variable and fixed rate commercial real estate loans, loans secured by owner-occupied properties, loans to domestic and foreign individuals primarily secured by personal residence, working capital loans, loan backed by assets, interests in national credit shares, purchased receivables, and small business administration loans, financial institution loans and acceptances, and consumer loans and overdrafts, such as automobile loans, personal loans or loans secured by cash or securities and revolving credit card agreements.
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