Verition Fund Management LLC Takes Position in Amerant Bancorp Inc. (NASDAQ:AMTB)

Verition Fund Management LLC bought a new position in Amerant Bancorp Inc. (NASDAQ:AMTB) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 345,884 shares of the company’s stock, valued at approximately $7,392,000.

Several other hedge funds have also recently modified their holdings of the business. Quantbot Technologies LP bought a new stake in Amerant Bancorp in the 3rd quarter worth about $65,000. US Bancorp DE grew 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Amerant Bancorp by 30.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,172 shares of the company’s stock valued at $117,000 after purchasing an additional 1,197 shares during the last quarter. SG Americas Securities LLC bought a new position in Amerant Bancorp during the second quarter valued at approximately $199,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Amerant Bancorp by 74.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,017 shares of the company’s stock worth $193,000 after purchasing an additional 3,845 shares during the last quarter. Hedge funds and other institutional investors own 42.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AMTB shares. Stephens raised Amerant Bancorp from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $24.00 to $25.00 in a report on Monday, September 30th. Piper Sandler increased their target price on Amerant Bancorp from $26.50 to $29.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Raymond James cut their price target on Amerant Bancorp from $27.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Amerant Bancorp has an average rating of “Moderate Buy” and an average price target of $25.60.

Amerant Bancorp Stock Performance

Shares of AMTB opened at $24.87 on Monday. The business has a 50-day simple moving average of $22.08 and a two-hundred day simple moving average of $22.02. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.18. Amerant Bancorp Inc. has a 52 week low of $18.54 and a 52 week high of $27.00. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -16.80 and a beta of 0.99.

Amerant Bancorp (NASDAQ:AMTB) last released its earnings results on Wednesday, October 23rd. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The company had revenue of ($999.00) million for the quarter, compared to analysts’ expectations of $99.39 million. Amerant Bancorp had a negative net margin of 8.38% and a positive return on equity of 5.73%. During the same quarter last year, the business earned $0.64 EPS. On average, analysts expect that Amerant Bancorp Inc. will post 1.22 EPS for the current year.

Amerant Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were paid a $0.09 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.36 dividend on an annualized basis and a yield of 1.45%. Amerant Bancorp’s payout ratio is presently -24.32%.

Amerant Bancorp 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.