CORAL GABLES, Fla. - Amerant Bancorp Inc. (NYSE: NYSE:AMTB), the Florida-based bank holding company, announced today that its Board of Directors has approved a cash dividend for its shareholders. The dividend, set at $0.09 per share of common stock, is scheduled to be distributed on May 30, 2024, to shareholders who are on record by the close of business on May 15, 2024.
Amerant Bancorp, established in 1979, operates primarily through its main subsidiary, Amerant Bank, N.A., and several other subsidiaries including Amerant Investments, Inc., Elant Bank and Trust Ltd., and Amerant Mortgage, LLC.
The company offers a variety of financial services such as deposit accounts, credit options, and wealth management to both individuals and businesses. With over four decades of experience, Amerant Bank holds the distinction of being the largest community bank with headquarters in Florida.
The bank serves its clients through a network of 24 banking centers, including 17 in South Florida, one in Tampa, FL, and six in the Houston, Texas area. This dividend announcement is a part of the company's ongoing efforts to deliver value to its shareholders.
The information provided in this article is based on a press release statement from Amerant Bancorp Inc.
InvestingPro Insights
Amerant Bancorp Inc. (NYSE: AMTB) has not only been able to maintain a consistent dividend for its shareholders but also seems to be on a growth trajectory. According to real-time data from InvestingPro, Amerant Bancorp's market capitalization stands at a robust $764.5 million.
Despite concerns over its gross profit margins, the InvestingPro Tips suggest that analysts are optimistic about the company's profitability in the coming year. This aligns with the bank's recent performance, having been profitable over the last twelve months.
An interesting facet of Amerant Bancorp's financial health is its P/E ratio, which is currently 23.3, indicating investor confidence in its earnings potential. However, the adjusted P/E ratio for the last twelve months is significantly higher at 136.55, which may reflect the market's reassessment of the company's future growth in earnings relative to its current share price. Moreover, the company has experienced a substantial price increase of 34.17% over the last six months, signaling strong market momentum and investor interest.
For those considering an investment in Amerant Bancorp, it's worth noting that there are more InvestingPro Tips available, which can provide deeper insights into the company's financials and market performance. With the use of coupon code PRONEWS24, investors can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro. This could be a valuable resource for those looking to make an informed decision, especially considering the bank's next earnings date on April 24, 2024.
Investors may also be interested in knowing that the company's dividend yield is currently at 1.58%, with the most recent dividend having an ex-date of February 13, 2024. As Amerant Bancorp continues to navigate the financial sector, these metrics and additional tips available on InvestingPro could prove crucial for shareholders and potential investors alike.
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