Russell Investments Group Ltd. grew its position in Ameris Bancorp (NASDAQ:ABCB) by 2.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 693,255 shares of the bank’s stock after purchasing an additional 17,277 shares during the period. Russell Investments Group Ltd. owned approximately 1.46% of Ameris Bancorp worth $31,682,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Security National Bank raised its holdings in Ameris Bancorp by 5.5% during the third quarter. Security National Bank now owns 43,644 shares of the bank’s stock worth $1,994,000 after acquiring an additional 2,286 shares in the last quarter. Northern Trust Corp raised its holdings in Ameris Bancorp by 12.1% during the second quarter. Northern Trust Corp now owns 512,879 shares of the bank’s stock worth $27,362,000 after acquiring an additional 55,212 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Ameris Bancorp by 1.9% during the second quarter. Bank of New York Mellon Corp now owns 804,157 shares of the bank’s stock worth $42,901,000 after acquiring an additional 15,052 shares in the last quarter. California Public Employees Retirement System raised its holdings in Ameris Bancorp by 69.0% during the second quarter. California Public Employees Retirement System now owns 65,130 shares of the bank’s stock worth $3,475,000 after acquiring an additional 26,595 shares in the last quarter. Finally, Bard Associates Inc. bought a new stake in Ameris Bancorp during the second quarter worth about $963,000. Institutional investors own 78.07% of the company’s stock.
Several analysts recently issued reports on ABCB shares. Zacks Investment Research lowered Ameris Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. TheStreet lowered Ameris Bancorp from a “b” rating to a “c+” rating in a report on Friday, August 17th. BidaskClub raised Ameris Bancorp from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 13th. Stephens reissued a “buy” rating and set a $60.00 price target on shares of Ameris Bancorp in a research report on Thursday, September 20th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $61.00 price target on shares of Ameris Bancorp in a research report on Friday, July 27th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $57.67.
Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings results on Friday, October 19th. The bank reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.01. The firm had revenue of $129.21 million for the quarter, compared to the consensus estimate of $135.44 million. Ameris Bancorp had a return on equity of 11.14% and a net margin of 17.99%. On average, analysts anticipate that Ameris Bancorp will post 3.32 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 10th. Shareholders of record on Friday, September 28th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Thursday, September 27th. Ameris Bancorp’s dividend payout ratio (DPR) is presently 16.13%.
In other Ameris Bancorp news, Director Elizabeth A. Mccague purchased 1,000 shares of the stock in a transaction on Friday, August 24th. The shares were purchased at an average price of $50.05 per share, with a total value of $50,050.00. Following the completion of the transaction, the director now directly owns 5,226 shares in the company, valued at $261,561.30. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.07% of the stock is owned by insiders.
About Ameris Bancorp
Ameris Bancorp operates as the holding company for Ameris Bank that provides banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, and South Carolina. The company operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, Small Business Administration Division, and Premium Finance Division.
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