Arizona State Retirement System boosted its stake in Amerant Bancorp Inc. (NASDAQ:AMTB – Get Rating) by 28.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,522 shares of the company’s stock after purchasing an additional 1,666 shares during the quarter. Arizona State Retirement System’s holdings in Amerant Bancorp were worth $238,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Navellier & Associates Inc. acquired a new position in shares of Amerant Bancorp during the first quarter valued at about $670,000. New York State Common Retirement Fund grew its holdings in shares of Amerant Bancorp by 6.1% during the fourth quarter. New York State Common Retirement Fund now owns 17,174 shares of the company’s stock valued at $593,000 after buying an additional 992 shares during the last quarter. Kennedy Capital Management Inc. acquired a new position in shares of Amerant Bancorp during the fourth quarter valued at about $8,027,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Amerant Bancorp during the fourth quarter valued at about $49,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in Amerant Bancorp during the fourth quarter worth about $671,000. 34.58% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, insider Gerald P. Plush acquired 1,000 shares of the stock in a transaction on Monday, July 25th. The shares were acquired at an average price of $27.14 per share, with a total value of $27,140.00. Following the completion of the transaction, the insider now owns 30,870 shares in the company, valued at approximately $837,811.80. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have purchased 1,638 shares of company stock valued at $45,105. Company insiders own 14.14% of the company’s stock.
Amerant Bancorp Stock Performance
Amerant Bancorp (NASDAQ:AMTB – Get Rating) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.23). Amerant Bancorp had a return on equity of 9.61% and a net margin of 27.91%. During the same quarter in the prior year, the business posted $0.51 earnings per share. As a group, equities analysts forecast that Amerant Bancorp Inc. will post 2.24 earnings per share for the current year.
Amerant Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 17th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Tuesday, August 16th. Amerant Bancorp’s dividend payout ratio is 2.07%.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on AMTB. Piper Sandler cut their price target on shares of Amerant Bancorp to $33.00 in a report on Friday, July 22nd. Raymond James cut their price target on shares of Amerant Bancorp from $38.00 to $36.00 and set an “outperform” rating on the stock in a report on Friday, April 22nd.
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. The company offers checking, savings, and money market accounts; and certificates of deposits. It also provides variable and fixed rate commercial real estate loans; loans secured by owner-occupied properties; loans to domestic and foreign individuals primarily secured by personal residence; working capital loans, asset-based lending, participations in shared national credits, purchased receivables, and small business administration loans; loans to financial institutions and acceptances; and consumer loans and overdrafts, such as automobile, personal, or loans secured by cash or securities and revolving credit card agreements.
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