Peregrine Capital Management LLC Invests $5.33 Million in Amerant Bancorp Inc. (NASDAQ:AMTB)

Peregrine Capital Management LLC acquired a new position in Amerant Bancorp Inc. (NASDAQ:AMTB) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 237,705 shares of the company’s stock, valued at approximately $5,327,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMTB. Quantbot Technologies LP purchased a new position in shares of Amerant Bancorp in the 3rd quarter worth approximately $65,000. US Bancorp DE grew its position in shares of Amerant Bancorp by 655.8% in the 3rd quarter. US Bancorp DE now owns 3,212 shares of the company’s stock worth $69,000 after buying an additional 2,787 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Amerant Bancorp by 74.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,017 shares of the company’s stock worth $193,000 after buying an additional 3,845 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Amerant Bancorp in the 3rd quarter worth approximately $247,000. Finally, Creative Planning grew its position in shares of Amerant Bancorp by 7.6% in the 3rd quarter. Creative Planning now owns 11,974 shares of the company’s stock worth $256,000 after buying an additional 850 shares during the last quarter. Hedge funds and other institutional investors own 42.11% of the company’s stock.

Amerant Bancorp Stock Down 0.3 %

NASDAQ:AMTB opened at $23.77 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.18. Amerant Bancorp Inc. has a twelve month low of $18.54 and a twelve month high of $27.00. The company’s 50 day moving average is $22.74 and its two-hundred day moving average is $22.20. The company has a market cap of $1.00 billion, a PE ratio of -41.69 and a beta of 1.02.

Amerant Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Friday, February 14th. Amerant Bancorp’s payout ratio is -63.16%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Stephens reaffirmed an “overweight” rating and issued a $29.00 price objective on shares of Amerant Bancorp in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods boosted their target price on shares of Amerant Bancorp from $25.00 to $27.00 and gave the stock a “market perform” rating in a research report on Monday, January 27th. Finally, Piper Sandler boosted their target price on shares of Amerant Bancorp from $26.50 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.00.

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.