Amerant Bancorp Inc. (NASDAQ:AMTB – Get Free Report) announced a quarterly dividend on Wednesday, July 24th, Wall Street Journal reports. Shareholders of record on Thursday, August 15th will be paid a dividend of 0.09 per share on Friday, August 30th. This represents a $0.36 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Thursday, August 15th.
Amerant Bancorp has a payout ratio of 16.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Amerant Bancorp to earn $2.31 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 15.6%.
Amerant Bancorp Trading Up 2.9 %
NASDAQ:AMTB opened at $19.91 on Wednesday. The company’s 50 day moving average is $22.31 and its 200-day moving average is $22.23. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 1.18. Amerant Bancorp has a 12 month low of $16.63 and a 12 month high of $27.00. The firm has a market cap of $671.29 million, a price-to-earnings ratio of 29.28 and a beta of 1.01.
Insiders Place Their Bets
In other Amerant Bancorp news, CAO Armando Fleitas sold 6,240 shares of Amerant Bancorp stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $22.59, for a total transaction of $140,961.60. Following the sale, the chief accounting officer now owns 5,594 shares in the company, valued at $126,368.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 13.49% of the company’s stock.
Analyst Ratings Changes
AMTB has been the subject of several recent analyst reports. Keefe, Bruyette & Woods decreased their target price 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. Janney Montgomery Scott downgraded shares of Amerant Bancorp from a “buy” rating to a “neutral” rating and set a $25.00 price target for the company. in a report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Amerant Bancorp presently has a consensus rating of “Hold” and an average target price of $25.20.
Read Our Latest Stock Analysis on AMTB
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.
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