Vanguard Group Inc. raised its position in Ameris Bancorp (NASDAQ:ABCB) by 2.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,588,877 shares of the bank’s stock after purchasing an additional 65,815 shares during the quarter. Vanguard Group Inc. owned approximately 6.97% of Ameris Bancorp worth $124,784,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Northern Trust Corp grew its stake in Ameris Bancorp by 6.5% in the second quarter. Northern Trust Corp now owns 466,658 shares of the bank’s stock valued at $22,494,000 after purchasing an additional 28,430 shares in the last quarter. Citigroup Inc. grew its stake in Ameris Bancorp by 14.9% in the second quarter. Citigroup Inc. now owns 38,355 shares of the bank’s stock valued at $1,849,000 after purchasing an additional 4,987 shares in the last quarter. Pinebridge Investments L.P. grew its stake in Ameris Bancorp by 7.0% in the second quarter. Pinebridge Investments L.P. now owns 24,671 shares of the bank’s stock valued at $1,189,000 after purchasing an additional 1,604 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Ameris Bancorp in the second quarter valued at about $1,746,000. Finally, UBS Asset Management Americas Inc. grew its stake in Ameris Bancorp by 3.4% in the second quarter. UBS Asset Management Americas Inc. now owns 19,559 shares of the bank’s stock valued at $943,000 after purchasing an additional 650 shares in the last quarter. Hedge funds and other institutional investors own 82.66% of the company’s stock.
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Shares of Ameris Bancorp (NASDAQ ABCB) opened at 48.00 on Tuesday. Ameris Bancorp has a 1-year low of $35.15 and a 1-year high of $51.28. The company has a market cap of $1.78 billion, a P/E ratio of 20.62 and a beta of 1.29. The stock’s 50 day moving average price is $46.58 and its 200 day moving average price is $46.09.
Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings data on Thursday, October 19th. The bank reported $0.63 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.02). The company had revenue of $93.85 million during the quarter, compared to the consensus estimate of $96.89 million. Ameris Bancorp had a net margin of 21.57% and a return on equity of 12.12%. Equities research analysts forecast that Ameris Bancorp will post $2.49 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Thursday, September 28th. Ameris Bancorp’s payout ratio is 17.62%.
In related news, Director Leo J. Hill acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was bought at an average price of $42.75 per share, for a total transaction of $42,750.00. Following the acquisition, the director now directly owns 16,629 shares of the company’s stock, valued at $710,889.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.63% of the stock is owned by company insiders.
Several research firms have recently issued reports on ABCB. Zacks Investment Research upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. Piper Jaffray Companies set a $48.00 price target on Ameris Bancorp and gave the stock a “hold” rating in a research note on Friday, October 6th. Stephens reiterated a “buy” rating and set a $52.00 price target on shares of Ameris Bancorp in a research note on Thursday, September 28th. BidaskClub downgraded Ameris Bancorp from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $51.00 price target on shares of Ameris Bancorp in a research note on Monday, June 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Ameris Bancorp currently has an average rating of “Hold” and an average price target of $51.50.
About Ameris Bancorp
Ameris Bancorp is a financial holding company. The Company’s business is conducted through its banking subsidiary, Ameris Bank (the Bank), which provides a range of banking services to its retail and commercial customers. The Company operates through four segments: the Banking Division, the Retail Mortgage Division, the Warehouse Lending Division and the SBA Division.
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