Geode Capital Management LLC Purchases 88,177 Shares of Amerant Bancorp Inc. (NASDAQ:AMTB)

Geode Capital Management LLC grew its position in Amerant Bancorp Inc. (NASDAQ:AMTB) by 12.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 822,553 shares of the company’s stock after purchasing an additional 88,177 shares during the quarter. Geode Capital Management LLC owned approximately 1.95% of Amerant Bancorp worth $18,438,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of AMTB. KLP Kapitalforvaltning AS bought a new stake in Amerant Bancorp in the fourth quarter valued at $148,000. Arizona State Retirement System bought a new position in Amerant Bancorp in the fourth quarter worth approximately $220,000. Y Intercept Hong Kong Ltd acquired a new stake in Amerant Bancorp in the fourth quarter valued at approximately $259,000. Intech Investment Management LLC bought a new stake in shares of Amerant Bancorp during the fourth quarter valued at approximately $269,000. Finally, Angel Oak Capital Advisors LLC acquired a new position in shares of Amerant Bancorp during the fourth quarter worth approximately $336,000. Institutional investors own 42.11% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on AMTB shares. Keefe, Bruyette & Woods raised their target price on Amerant Bancorp from $25.00 to $27.00 and gave the company a “market perform” rating in a report on Monday, January 27th. Stephens reaffirmed an “overweight” rating and set a $29.00 price objective on shares of Amerant Bancorp in a report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

Amerant Bancorp Stock Up 0.6 %

Shares of NASDAQ:AMTB opened at $18.60 on Friday. The firm has a fifty day moving average of $20.86 and a 200 day moving average of $22.07. Amerant Bancorp Inc. has a 52-week low of $16.55 and a 52-week high of $27.00. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.94 and a current ratio of 1.01. The firm has a market capitalization of $779.71 million, a PE ratio of -32.63 and a beta of 1.05.

Amerant Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Friday, February 14th. Amerant Bancorp’s dividend payout ratio is presently -63.16%.

Amerant Bancorp 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.