Intech Investment Management LLC Sells 3,904 Shares of Amerant Bancorp Inc. $AMTB

Intech Investment Management LLC lowered its position in shares of Amerant Bancorp Inc. (NASDAQ:AMTB) by 20.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,959 shares of the company’s stock after selling 3,904 shares during the quarter. Intech Investment Management LLC’s holdings in Amerant Bancorp were worth $273,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AMTB. Russell Investments Group Ltd. grew its position in shares of Amerant Bancorp by 1,965.6% during the 1st quarter. Russell Investments Group Ltd. now owns 16,504 shares of the company’s stock worth $341,000 after purchasing an additional 15,705 shares in the last quarter. Rhino Investment Partners Inc bought a new stake in shares of Amerant Bancorp in the first quarter valued at approximately $2,763,000. Allianz Asset Management GmbH bought a new stake in shares of Amerant Bancorp in the second quarter valued at approximately $695,000. Allspring Global Investments Holdings LLC grew its position in Amerant Bancorp by 3.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 550,683 shares of the company’s stock worth $10,039,000 after buying an additional 16,943 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Amerant Bancorp by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 2,124,902 shares of the company’s stock worth $43,858,000 after acquiring an additional 28,322 shares during the period. 42.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMTB has been the subject of a number of recent analyst reports. Piper Sandler cut their target price on Amerant Bancorp from $26.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Keefe, Bruyette & Woods dropped their price target on Amerant Bancorp from $22.00 to $20.00 and set a “market perform” rating for the company in a research note on Monday, November 3rd. Finally, Raymond James Financial set a $21.00 price objective on shares of Amerant Bancorp and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $21.75.

Amerant Bancorp Price Performance

Amerant Bancorp stock opened at $19.06 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. Amerant Bancorp Inc. has a 52 week low of $15.62 and a 52 week high of $25.85. The stock has a market capitalization of $786.53 million, a P/E ratio of -33.44 and a beta of 1.33. The stock has a fifty day moving average of $18.17 and a 200-day moving average of $18.86.

Amerant Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.9%. Amerant Bancorp’s dividend payout ratio is 22.78%.

About Amerant Bancorp

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.