Jacobs Asset Management LLC Purchases New Position in Amerant Bancorp Inc. (NASDAQ:AMTB)

Jacobs Asset Management LLC bought a new stake in shares of Amerant Bancorp Inc. (NASDAQ:AMTB) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 120,000 shares of the company’s stock, valued at approximately $2,564,000. Amerant Bancorp accounts for about 1.7% of Jacobs Asset Management LLC’s investment portfolio, making the stock its 19th largest position. Jacobs Asset Management LLC owned about 0.36% of Amerant Bancorp as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Creative Planning increased its holdings in shares of Amerant Bancorp by 7.6% in the third quarter. Creative Planning now owns 11,974 shares of the company’s stock valued at $256,000 after purchasing an additional 850 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in 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 buying an additional 1,197 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Amerant Bancorp by 23.9% during the second quarter. The Manufacturers Life Insurance Company now owns 11,998 shares of the company’s stock worth $272,000 after buying an additional 2,316 shares in the last quarter. US Bancorp DE raised its position in Amerant Bancorp by 655.8% in the 3rd quarter. US Bancorp DE now owns 3,212 shares of the company’s stock worth $69,000 after purchasing an additional 2,787 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in Amerant Bancorp in the 3rd quarter worth $65,000. Hedge funds and other institutional investors own 42.11% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Amerant Bancorp Stock Up 1.3 %

Shares of NASDAQ:AMTB opened at $25.19 on Tuesday. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 18.70 and a beta of 1.01. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.01 and a quick ratio of 0.94. The business’s 50-day moving average is $22.15 and its 200-day moving average is $22.04. Amerant Bancorp Inc. has a 1 year low of $18.54 and a 1 year high of $27.00.

Amerant Bancorp (NASDAQ:AMTB) last posted 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. Amerant Bancorp had a negative net margin of 8.38% and a positive return on equity of 5.73%. The business had revenue of ($999.00) million during the quarter, compared to the consensus estimate of $99.39 million. During the same quarter in the previous year, the firm posted $0.64 EPS. Equities research analysts predict that Amerant Bancorp Inc. will post 1.22 earnings per share for the current year.

Amerant Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Thursday, November 14th. Amerant Bancorp’s payout ratio is -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.