Amerant Bancorp Inc Stock Price, News & Analysis

Amerant Bancorp Inc. (NASDAQ: AMTB) has successfully completed its previous $50 million share buyback program and announced a new $50 million repurchase program for Class A common stock. The decision reflects the board's confidence in the company's performance and commitment to enhancing shareholder value. Repurchases will occur based on market conditions and regulatory requirements. The bank, headquartered in Florida, is one of the largest community banks in the state, with 24 banking centers. These buyback initiatives, alongside recent cash dividends, aim to optimize capital management and returns for shareholders.

Amerant Bancorp reported a substantial increase in net income for Q4 2021, reaching $65.5 million ($1.77 per share), compared to $17.0 million in Q3 2021. This improvement reflects a robust 284.4% quarter-over-quarter and a 672.7% year-over-year growth. Core pre-provision net revenue (Core PPNR) reached approximately $19 million, while total loans saw growth of $88.6 million during the same period. Additionally, non-performing loans decreased to 0.89% of total loans, and net interest margin improved to 3.17%.

Amerant Bancorp Inc. (NASDAQ: AMTB) has declared a cash dividend of $0.09 per share for its common stock. This dividend will be payable on February 28, 2022, to shareholders of record as of February 11, 2022. The announcement follows the company's reputation as the second largest community bank in Florida, providing a range of banking services through its subsidiary, Amerant Bank. The bank operates 24 centers, primarily in South Florida and Houston, Texas.

Amerant Bancorp Inc. (NASDAQ: AMTB) has announced it will report its fourth quarter 2021 earnings results before market opening on January 20, 2022. CEO Jerry Plush and CFO Carlos Iafigliola will conduct a conference call at 9:00 AM ET to discuss the financial outcomes. Interested parties can access the call via the company's website or dial in directly. The company, based in Coral Gables, Florida, operates as a significant community bank and provides various banking services across the U.S. and select international markets.

Amerant Bancorp Inc. has completed the sale of its headquarters in Coral Gables, FL, to FNLI Audax LLC for $135 million. This all-cash transaction is expected to yield a pre-tax gain of approximately $62.4 million and increase tangible book value per common share by about $1.22. As part of the deal, Amerant has entered an 18-year leaseback agreement at approximately $43 per square foot. This strategic move aims to enhance the company’s financial position by increasing the percentage of earning assets to total assets.

Amerant Bancorp Inc. (NASDAQ: AMTB) has declared a cash dividend of $0.06 per share, totaling approximately $2.2 million, payable by January 15, 2022, to shareholders on record by December 22, 2021. This decision reflects the company's commitment to enhancing shareholder returns and signals confidence in its financial position and future performance, according to CEO Jerry Plush.

Amerant Mortgage, a subsidiary of Amerant Bank, has announced the expansion of its wholesale division, onboarding 28 new team members focused on enhancing services for mortgage brokers. This move aims to accelerate growth in the wholesale sector, with the new team previously generating over $2 billion in gross loan volume. The wholesale division offers a mix of standardized agency and specialized bank portfolio products, providing mortgage brokers with greater options and flexibility. This strategic development is a response to evolving business opportunities within the mortgage market.

Amerant Bancorp Inc. (NASDAQ: AMTB) announced the completion of a clean-up merger on November 18, 2021, simplifying its capital structure. This involved converting all shares of Class B common stock into Class A common stock, with the last trading day for Class B being November 17, 2021. Shareholders with fractional shares post-merger will receive cash equal to their fractional shares multiplied by the Class A closing price of $30.10. The total outstanding shares of Class A after the merger are approximately 37,103,243.

Amerant Bancorp Inc. (NASDAQ: AMTB, AMTBB) announced that its shareholders approved a merger aimed at simplifying the company's capital structure. The merger will convert all Class B common stock into Class A common stock at a rate of 0.95 shares. Any shareholder exceeding an 8.9% ownership threshold in Class A stock will receive non-voting shares. The merger is set to take effect on November 18, 2021, and will result in only Class A shares being traded on NASDAQ.

CEO Jerry Plush highlighted the merger's potential to optimize capital costs and enhance shareholder returns.