Nuveen Asset Management LLC Purchases 5,948 Shares of Amerant Bancorp Inc. (NASDAQ:AMTB)

Nuveen Asset Management LLC boosted its position in shares of Amerant Bancorp Inc. (NASDAQ:AMTB) by 7.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 88,398 shares of the company’s stock after acquiring an additional 5,948 shares during the period. Nuveen Asset Management LLC owned 0.21% of Amerant Bancorp worth $1,981,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sterling Capital Management LLC raised its position in shares of Amerant Bancorp by 1,000.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,167 shares of the company’s stock valued at $26,000 after buying an additional 1,061 shares during the last quarter. Summit Investment Advisors Inc. increased its position in Amerant Bancorp by 49.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,874 shares of the company’s stock worth $87,000 after purchasing an additional 1,286 shares during the last quarter. Legal & General Group Plc increased its position in Amerant Bancorp by 6.8% during the fourth quarter. Legal & General Group Plc now owns 31,606 shares of the company’s stock valued at $708,000 after acquiring an additional 2,003 shares during the last quarter. Corebridge Financial Inc. increased its position in Amerant Bancorp by 16.2% during the fourth quarter. Corebridge Financial Inc. now owns 18,410 shares of the company’s stock valued at $413,000 after acquiring an additional 2,560 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Amerant Bancorp by 8.0% during the fourth quarter. Bank of America Corp DE now owns 61,229 shares of the company’s stock valued at $1,372,000 after purchasing an additional 4,517 shares during the period. Institutional investors own 42.11% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Amerant Bancorp from $24.00 to $20.00 and set a “market perform” rating for the company in a research note on Friday, April 25th. Stephens reiterated an “overweight” rating and set a $24.00 price objective on shares of Amerant Bancorp in a research note on Tuesday, April 29th. Finally, Raymond James downgraded shares of Amerant Bancorp from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 24th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $24.60.

Amerant Bancorp Stock Performance

Shares of Amerant Bancorp stock opened at $17.32 on Wednesday. The firm has a market capitalization of $724.31 million, a P/E ratio of -30.38 and a beta of 1.31. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.18. The company has a 50 day moving average price of $18.00 and a 200 day moving average price of $21.19. Amerant Bancorp Inc. has a 52 week low of $16.21 and a 52 week high of $27.00.

Amerant Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 15th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Thursday, May 15th. Amerant Bancorp’s payout ratio is currently -60.00%.

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.