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

Amerant Bancorp Inc. (NASDAQ:AMTB) announced a quarterly dividend on Thursday, July 25th, Wall Street Journal reports. Investors 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 1.49%. The ex-dividend date is Thursday, August 15th.

Amerant Bancorp has a payout ratio of 15.1% meaning its dividend is sufficiently covered by earnings. 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 Stock Down 8.4 %

Shares of AMTB stock traded down $2.21 during trading hours on Thursday, reaching $24.16. 218,502 shares of the stock were exchanged, compared to its average volume of 104,778. The business’s fifty day moving average is $22.75 and its two-hundred day moving average is $22.52. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.96 and a quick ratio of 0.95. Amerant Bancorp has a 12-month low of $16.63 and a 12-month high of $27.00. The firm has a market capitalization of $814.58 million, a P/E ratio of 36.79 and a beta of 1.01.

Amerant Bancorp (NASDAQ:AMTB) last released its earnings results on Wednesday, July 24th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates 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 in the previous year, the business earned $0.24 EPS. As a group, research analysts expect that Amerant Bancorp will post 1.64 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AMTB shares. Janney Montgomery Scott started coverage on shares of Amerant Bancorp in a research report on Tuesday, June 18th. They set a “buy” rating and a $25.00 target price on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Amerant Bancorp from $28.00 to $26.00 and set a “market perform” rating on the stock in a research report on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $25.60.

Insider Activity

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

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.