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

Amerant Bancorp Inc. (NASDAQ:AMTB) announced a quarterly dividend on Wednesday, October 23rd, NASDAQ reports. Stockholders 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 annualized dividend 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% meaning 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 Stock Performance

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

Amerant Bancorp (NASDAQ:AMTB) last announced its quarterly earnings data 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 the consensus estimate of $93.19 million. Amerant Bancorp had a return on equity of 7.78% and a net margin of 3.15%. During the same quarter in the prior year, the business posted $0.24 EPS. Equities analysts forecast that Amerant Bancorp will post 1.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Piper Sandler raised Amerant Bancorp from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $26.00 to $26.50 in a research report on Monday, September 30th. Raymond James lowered their target price on shares of Amerant Bancorp from $27.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Janney Montgomery Scott cut shares of Amerant Bancorp from a “buy” rating to a “neutral” rating and set a $25.00 price target for the company. in a research note on Friday, July 26th. Stephens upgraded Amerant Bancorp from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $24.00 to $25.00 in a research report on Monday, September 30th. Finally, Keefe, Bruyette & Woods reduced their target price 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. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.