Amerant Bancorp Inc. (NYSE:AMTB – Get Free Report)’s stock price reached a new 52-week high on Friday following a stronger than expected earnings report. The stock traded as high as $28.17 and last traded at $27.0370, with a volume of 157099 shares. The stock had previously closed at $25.85.
The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.39 by $0.14. Amerant Bancorp had a return on equity of 8.59% and a net margin of 8.83%.The company had revenue of $98.81 million for the quarter, compared to the consensus estimate of $98.64 million.
Amerant Bancorp Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, August 14th. Amerant Bancorp’s payout ratio is currently 25.53%.
Analyst Ratings Changes
Read Our Latest Report on AMTB
Institutional Trading of Amerant Bancorp
Hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its position in Amerant Bancorp by 0.3% during the 3rd quarter. Wellington Management Group LLP now owns 5,732,375 shares of the company’s stock valued at $110,463,000 after purchasing an additional 19,426 shares during the period. Vanguard Group Inc. boosted its stake 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 purchasing an additional 206,874 shares in the last quarter. Patriot Financial Partners GP II L.P. bought a new position in shares of Amerant Bancorp during the third quarter valued at approximately $44,621,000. Dimensional Fund Advisors LP increased its holdings in Amerant Bancorp by 10.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,388,926 shares of the company’s stock valued at $30,611,000 after buying an additional 133,050 shares during the period. Finally, State Street Corp raised its stake in Amerant Bancorp by 9.8% in the fourth quarter. State Street Corp now owns 1,173,568 shares of the company’s stock worth $22,896,000 after buying an additional 104,578 shares in the last quarter. 42.11% of the stock is owned by hedge funds and other institutional investors.
Amerant Bancorp Stock Up 6.7%
The business’s 50 day moving average is $24.08 and its 200 day moving average is $22.79. The company has a quick ratio of 0.85, a current ratio of 0.87 and a debt-to-equity ratio of 0.90. The company has a market cap of $1.09 billion, a P/E ratio of 19.43 and a beta of 0.88.
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.
Featured Articles
- Five stocks we like better than Amerant Bancorp
- Plugging In: How Kinder Morgan Powers Up Profits
- Freeport McMoRan Post-Earnings: Why Good Enough May Finally Be Good Enough
- TSMC’s Price Hikes Could Show Which AI Chip Stocks Have Real Pricing Power
- Tesla Just Delivered Record Sales—So Why Did the Stock Sell Off?
Receive News & Ratings for Amerant Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amerant Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.
