Rafferty Asset Management LLC Sells 891 Shares of Amerant Bancorp Inc. $AMTB

Rafferty Asset Management LLC trimmed its stake in Amerant Bancorp Inc. (NASDAQ:AMTB) by 2.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,990 shares of the company’s stock after selling 891 shares during the period. Rafferty Asset Management LLC owned approximately 0.08% of Amerant Bancorp worth $660,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AMTB. Dimensional Fund Advisors LP lifted its stake in shares of Amerant Bancorp by 6.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,052,955 shares of the company’s stock valued at $23,597,000 after purchasing an additional 66,816 shares during the last quarter. MetLife Investment Management LLC lifted its stake in shares of Amerant Bancorp by 35.8% in the 4th quarter. MetLife Investment Management LLC now owns 22,280 shares of the company’s stock valued at $499,000 after purchasing an additional 5,879 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Amerant Bancorp by 77.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,544 shares of the company’s stock valued at $236,000 after purchasing an additional 4,589 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Amerant Bancorp by 49.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,377 shares of the company’s stock valued at $323,000 after purchasing an additional 4,767 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Amerant Bancorp by 24.2% in the 4th quarter. Northern Trust Corp now owns 348,650 shares of the company’s stock valued at $7,813,000 after purchasing an additional 67,837 shares during the last quarter. 42.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AMTB has been the subject of several analyst reports. Keefe, Bruyette & Woods raised their price objective on Amerant Bancorp from $20.00 to $22.00 and gave the company a “market perform” rating in a research note on Monday, July 28th. Piper Sandler raised their price objective on Amerant Bancorp from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.25.

Amerant Bancorp Trading Up 0.2%

Shares of NASDAQ AMTB opened at $21.54 on Tuesday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.94 and a current ratio of 1.01. The business’s 50 day moving average price is $19.71 and its 200-day moving average price is $19.32. Amerant Bancorp Inc. has a fifty-two week low of $16.21 and a fifty-two week high of $26.24. The company has a market cap of $899.32 million, a price-to-earnings ratio of -37.79 and a beta of 1.43.

Amerant Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, August 15th. Amerant Bancorp’s dividend payout ratio is presently -180.00%.

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.