Los Angeles Capital Management LLC Lowers Stake in Amerant Bancorp Inc. (NASDAQ:AMTB)

Los Angeles Capital Management LLC lowered its stake in shares of Amerant Bancorp Inc. (NASDAQ:AMTB) by 7.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,505 shares of the company’s stock after selling 1,570 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Amerant Bancorp were worth $458,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its position in shares of Amerant Bancorp by 9.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 14,339 shares of the company’s stock valued at $307,000 after buying an additional 1,266 shares in the last quarter. Invesco Ltd. raised its position in shares of Amerant Bancorp by 9.0% during the 2nd quarter. Invesco Ltd. now owns 20,895 shares of the company’s stock valued at $447,000 after buying an additional 1,728 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Amerant Bancorp by 208.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,940 shares of the company’s stock valued at $83,000 after buying an additional 2,661 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Amerant Bancorp by 4.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 78,695 shares of the company’s stock valued at $1,682,000 after buying an additional 3,301 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Amerant Bancorp by 7.8% during the 2nd quarter. Renaissance Technologies LLC now owns 69,200 shares of the company’s stock valued at $1,479,000 after buying an additional 4,997 shares in the last quarter. Hedge funds and other institutional investors own 31.13% of the company’s stock.

In other news, Director Millar Wilson sold 30,769 shares of the firm’s stock in a transaction dated Wednesday, November 17th. The shares were sold at an average price of $29.97, for a total value of $922,146.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director A. Gustavo J. Vollmer sold 2,630 shares of the firm’s stock in a transaction dated Monday, December 13th. The stock was sold at an average price of $29.93, for a total transaction of $78,715.90. The disclosure for this sale can be found here. 17.15% of the stock is owned by company insiders.

Several research firms have recently weighed in on AMTB. Zacks Investment Research upgraded shares of Amerant Bancorp from a “hold” rating to a “strong-buy” rating and set a $40.00 price objective on the stock in a research report on Tuesday, January 4th. Raymond James increased their target price on shares of Amerant Bancorp from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Friday, October 22nd. Finally, Stephens raised shares of Amerant Bancorp from an “equal weight” rating to an “overweight” rating in a report on Monday, November 8th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $28.00.

AMTB stock opened at $34.49 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.95 and a current ratio of 0.99. Amerant Bancorp Inc. has a 52 week low of $13.63 and a 52 week high of $36.72. The firm’s fifty day moving average is $32.14 and its 200 day moving average is $26.83. The firm has a market cap of $1.29 billion, a P/E ratio of 23.79 and a beta of 1.10.

Amerant Bancorp (NASDAQ:AMTB) last announced its quarterly earnings results on Tuesday, October 19th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.06. The business had revenue of $65.26 million for the quarter, compared to analyst estimates of $61.42 million. Amerant Bancorp had a net margin of 18.58% and a return on equity of 7.88%. During the same quarter last year, the firm earned $0.08 EPS. As a group, analysts forecast that Amerant Bancorp Inc. will post 1.72 EPS for the current year.

The company also recently declared a Not Available dividend, which will be paid on Saturday, January 15th. Shareholders of record on Wednesday, December 22nd will be issued a $0.06 dividend. The ex-dividend date is Tuesday, December 21st. Amerant Bancorp’s dividend payout ratio (DPR) is presently 4.14%.

Amerant Bancorp Company Profile

Amerant Bancorp, Inc operates as the bank holding company, which provides banking products and services to individuals and businesses in the United States and internationally. The firm offers a range of checking and savings accounts, certificates of deposit, and money market accounts. It also provides variable and fixed rate commercial real estate loans, loans secured by owner-occupied properties, loans to domestic and foreign individuals primarily secured by personal residence, working capital loans, asset-based lending, participations in shared national credits, purchased receivables, and small business administration loans, loans to financial institutions and acceptances, and consumer loans and overdrafts, such as automobile loans, personal loans, or loans secured by cash or securities and revolving credit card agreements.

Read More: Neutral Rating

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Institutional Ownership by Quarter for Amerant Bancorp (NASDAQ:AMTB)

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