Peregrine Capital Management LLC Sells 20,592 Shares of Amerant Bancorp Inc. $AMTB

Peregrine Capital Management LLC decreased its holdings in Amerant Bancorp Inc. (NYSE:AMTB) by 8.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 213,377 shares of the company’s stock after selling 20,592 shares during the quarter. Peregrine Capital Management LLC owned about 0.53% of Amerant Bancorp worth $4,703,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in AMTB. Patriot Financial Partners GP II L.P. bought a new position in Amerant Bancorp in the 3rd quarter worth $44,621,000. Millennium Management LLC boosted its stake in shares of Amerant Bancorp by 756.2% during the 3rd quarter. Millennium Management LLC now owns 437,847 shares of the company’s stock valued at $8,437,000 after purchasing an additional 386,710 shares in the last quarter. Boothbay Fund Management LLC bought a new stake in shares of Amerant Bancorp during the 4th quarter valued at about $4,153,000. Vanguard Group Inc. increased its position in shares of Amerant Bancorp by 9.3% during the fourth quarter. Vanguard Group Inc. now owns 2,424,944 shares of the company’s stock valued at $47,311,000 after buying an additional 206,874 shares during the period. Finally, Essex Investment Management Co. LLC purchased a new position in shares of Amerant Bancorp during the fourth quarter valued at about $3,006,000. Institutional investors own 42.11% of the company’s stock.

Amerant Bancorp Trading Up 2.2%

NYSE:AMTB opened at $26.09 on Thursday. Amerant Bancorp Inc. has a one year low of $15.62 and a one year high of $26.21. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.87 and a quick ratio of 0.85. The company’s 50-day simple moving average is $23.25 and its 200 day simple moving average is $22.17. The firm has a market capitalization of $1.03 billion, a P/E ratio of 18.50 and a beta of 0.88.

Amerant Bancorp (NYSE:AMTB) last announced its earnings results on Thursday, April 23rd. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Amerant Bancorp had a net margin of 8.83% and a return on equity of 8.59%. The business had revenue of $177.94 million during the quarter, compared to the consensus estimate of $102.56 million. As a group, analysts forecast that Amerant Bancorp Inc. will post 1.79 EPS for the current fiscal year.

Amerant Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, May 15th. Amerant Bancorp’s dividend payout ratio (DPR) is 25.53%.

Analyst Ratings Changes

AMTB has been the subject of several research analyst reports. Weiss Ratings upgraded shares of Amerant Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 20th. Wall Street Zen upgraded Amerant Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Finally, Zacks Research raised Amerant Bancorp from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 23rd. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.67.

Amerant Bancorp Company Profile

Amerant Bancorp is the bank holding company and parent of Amerant Bank, a community-oriented financial institution headquartered in Coral Gables, Florida. Amerant Bank delivers a comprehensive range of deposit and lending products to both retail and commercial clients, including checking and savings accounts, certificates of deposit, consumer mortgages, and business lines of credit. In addition, the company offers specialized services such as treasury management, international trade finance, foreign exchange, and asset-based lending to support the complex needs of corporate and high-net-worth customers.

Tracing its roots to the early 1980s, Amerant has grown through a combination of strategic acquisitions and organic expansion.