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

Amerant Bancorp Inc. (NASDAQ:AMTB) declared a quarterly dividend on Wednesday, October 23rd, NASDAQ reports. Shareholders of record on Thursday, November 14th will be paid a dividend of 0.09 per share on Friday, November 29th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Thursday, November 14th.

Amerant Bancorp has a dividend payout ratio of 17.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Amerant Bancorp to earn $2.00 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 18.0%.

Amerant Bancorp Price Performance

Shares of Amerant Bancorp stock traded up $0.39 during midday trading on Thursday, reaching $20.66. The company had a trading volume of 188,559 shares, compared to its average volume of 125,405. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25. The stock has a fifty day simple moving average of $20.98 and a 200 day simple moving average of $21.80. Amerant Bancorp has a 1-year low of $16.90 and a 1-year high of $27.00. The company has a market capitalization of $696.57 million, a price-to-earnings ratio of 30.56 and a beta of 0.99.

Amerant Bancorp (NASDAQ:AMTB) last released its earnings results on Wednesday, July 24th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.07). The firm had revenue of $98.78 million during the quarter, compared to analyst estimates of $93.19 million. Amerant Bancorp had a net margin of 3.15% and a return on equity of 7.78%. During the same period last year, the business posted $0.24 earnings per share. As a group, equities research analysts forecast that Amerant Bancorp will post 1.15 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Stephens upgraded shares of Amerant Bancorp from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $24.00 to $25.00 in a research report on Monday, September 30th. Keefe, Bruyette & Woods reduced their price objective on shares of Amerant Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a research note on Monday, July 29th. Raymond James lowered their target price on shares of Amerant Bancorp from $27.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Piper Sandler raised Amerant Bancorp from a “neutral” rating to an “overweight” rating and increased their price target for the company from $26.00 to $26.50 in a research note on Monday, September 30th. Finally, Janney Montgomery Scott cut Amerant Bancorp from a “buy” rating to a “neutral” rating and set a $25.00 price objective for the company. in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.10.

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.