Wellington Management Group LLP Sells 137,752 Shares of Amerant Bancorp Inc. $AMTB

Wellington Management Group LLP reduced its stake in Amerant Bancorp Inc. (NYSE:AMTB) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,392,594 shares of the company’s stock after selling 137,752 shares during the quarter. Wellington Management Group LLP owned about 13.76% of Amerant Bancorp worth $137,619,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Janus Henderson Group PLC raised its position in shares of Amerant Bancorp by 110.8% during the 1st quarter. Janus Henderson Group PLC now owns 22,637 shares of the company’s stock valued at $499,000 after buying an additional 11,900 shares in the last quarter. Royal Bank of Canada grew its position in Amerant Bancorp by 149.2% in the first quarter. Royal Bank of Canada now owns 2,524 shares of the company’s stock worth $56,000 after acquiring an additional 1,511 shares in the last quarter. Empowered Funds LLC increased its stake in Amerant Bancorp by 3.4% in the first quarter. Empowered Funds LLC now owns 164,730 shares of the company’s stock valued at $3,631,000 after acquiring an additional 5,492 shares during the last quarter. Quantinno Capital Management LP increased its stake in Amerant Bancorp by 45.3% in the first quarter. Quantinno Capital Management LP now owns 55,210 shares of the company’s stock valued at $1,217,000 after acquiring an additional 17,201 shares during the last quarter. Finally, North Reef Capital Management LP purchased a new stake in Amerant Bancorp during the first quarter valued at about $25,577,000. 42.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on AMTB shares. Wall Street Zen upgraded Amerant Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Zacks Research upgraded shares of Amerant Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods lifted their price target on shares of Amerant Bancorp from $26.00 to $31.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd. Stephens lowered shares of Amerant Bancorp from an “overweight” rating to an “equal weight” rating and set a $32.00 price objective for the company. in a report on Wednesday, August 12th. Finally, Weiss Ratings cut shares of Amerant Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Amerant Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $27.75.

Amerant Bancorp Stock Performance

NYSE:AMTB opened at $28.66 on Tuesday. The firm has a market cap of $1.12 billion, a PE ratio of 20.62 and a beta of 0.87. Amerant Bancorp Inc. has a fifty-two week low of $15.62 and a fifty-two week high of $30.60. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.84 and a current ratio of 0.86. The business has a 50 day moving average price of $27.44 and a 200-day moving average price of $24.26.

Amerant Bancorp (NYSE:AMTB) last issued its earnings results on Thursday, July 23rd. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.39 by $0.14. The company had revenue of $183.31 million for the quarter, compared to the consensus estimate of $98.64 million. Amerant Bancorp had a net margin of 8.76% and a return on equity of 8.30%. Equities research analysts predict that Amerant Bancorp Inc. will post 2.22 earnings per share for the current year.

Amerant Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, August 14th. Amerant Bancorp’s dividend payout ratio is 25.90%.

Amerant Bancorp 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.