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

by · The Markets Daily

Amerant Bancorp Inc. (NASDAQ:AMTB – Get Free Report) declared a quarterly dividend on Wednesday, October 23rd, NASDAQ reports. Stockholders of record on Thursday, November 14th will be given 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 payout ratio of 17.7% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Up 1.9 %

Shares of AMTB traded up $0.39 on Thursday, reaching $20.66. The stock had a trading volume of 188,559 shares, compared to its average volume of 125,405. The firm has a market capitalization of $696.57 million, a price-to-earnings ratio of 30.56 and a beta of 0.99. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.97. The company has a 50-day simple moving average of $20.98 and a 200-day simple moving average of $21.80. Amerant Bancorp has a 12-month low of $16.90 and a 12-month high of $27.00.

Amerant Bancorp (NASDAQ:AMTB – Get Free Report) last released its earnings results on Wednesday, July 24th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.07). The firm had revenue of $98.78 million during the quarter, compared to analysts’ expectations of $93.19 million. Amerant Bancorp had a net margin of 3.15% and a return on equity of 7.78%. During the same quarter in the previous year, the business earned $0.24 EPS. Sell-side analysts predict that Amerant Bancorp will post 1.15 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AMTB. Keefe, Bruyette & Woods lowered their price objective on Amerant Bancorp from $26.00 to $24.00 and set a “market perform” rating for the company in a research note on Monday, July 29th. Piper Sandler upgraded Amerant Bancorp from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $26.00 to $26.50 in a research note on Monday, September 30th. Raymond James lowered their price objective on Amerant Bancorp from $27.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Stephens upgraded Amerant Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $24.00 to $25.00 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $25.10.

Read Our Latest Report on AMTB

About Amerant Bancorp

(Get Free Report)

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.

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