Amerant Bancorp Inc. Plans Quarterly Dividend of $0.09 (NASDAQ:AMTB)

Amerant Bancorp Inc. (NASDAQ:AMTB) announced a quarterly dividend on Wednesday, July 24th, Wall Street Journal reports. Stockholders of record on Thursday, August 15th will be given a dividend of 0.09 per share on Friday, August 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Thursday, August 15th.

Amerant Bancorp has a dividend payout ratio of 15.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Amerant Bancorp to earn $2.34 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 15.4%.

Amerant Bancorp Price Performance

NASDAQ:AMTB traded down $2.10 during mid-day trading on Thursday, reaching $24.27. 307,535 shares of the stock were exchanged, compared to its average volume of 105,405. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. The business has a fifty day moving average price of $22.75 and a 200 day moving average price of $22.52. Amerant Bancorp has a 1-year low of $16.63 and a 1-year high of $27.00. The firm has a market capitalization of $818.29 million, a PE ratio of 36.79 and a beta of 1.01.

Amerant Bancorp (NASDAQ:AMTB) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.07). Amerant Bancorp had a return on equity of 7.65% and a net margin of 3.51%. During the same quarter last year, the firm posted $0.24 earnings per share. Research analysts expect that Amerant Bancorp will post 1.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Carlos Iafigliola sold 10,579 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $22.62, for a total value of $239,296.98. Following the completion of the sale, the chief operating officer now owns 9,961 shares in the company, valued at $225,317.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Carlos Iafigliola sold 10,579 shares of Amerant Bancorp stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $22.62, for a total transaction of $239,296.98. Following the transaction, the chief operating officer now owns 9,961 shares in the company, valued at $225,317.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Armando Fleitas sold 6,240 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $22.59, for a total value of $140,961.60. Following the transaction, the chief accounting officer now directly owns 5,594 shares in the company, valued at $126,368.46. The disclosure for this sale can be found here. Company insiders own 13.49% of the company’s stock.

Wall Street Analyst Weigh In

AMTB has been the subject of a number of recent research reports. Janney Montgomery Scott assumed coverage on Amerant Bancorp in a research report on Tuesday, June 18th. They set a “buy” rating and a $25.00 price objective for the company. Keefe, Bruyette & Woods reduced their target price on Amerant Bancorp from $28.00 to $26.00 and set a “market perform” rating for the company in a report on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $25.60.

Amerant Bancorp Company Profile

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.