Family Legacy Inc. Buys New Holdings in Ameris Bancorp (ABCB)

Family Legacy Inc. bought a new position in shares of Ameris Bancorp (NASDAQ:ABCB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 12,235 shares of the bank’s stock, valued at approximately $590,000.

Other large investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can grew its holdings in Ameris Bancorp by 45.8% during the fourth quarter. Bank of Montreal Can now owns 3,188 shares of the bank’s stock worth $153,000 after acquiring an additional 1,002 shares during the period. Ameritas Investment Partners Inc. grew its holdings in Ameris Bancorp by 8.4% during the second quarter. Ameritas Investment Partners Inc. now owns 3,188 shares of the bank’s stock worth $154,000 after acquiring an additional 248 shares during the period. Aperio Group LLC acquired a new position in Ameris Bancorp during the third quarter worth about $204,000. Flinton Capital Management LLC grew its holdings in Ameris Bancorp by 101.6% during the second quarter. Flinton Capital Management LLC now owns 4,250 shares of the bank’s stock worth $205,000 after acquiring an additional 2,142 shares during the period. Finally, Amalgamated Bank grew its holdings in Ameris Bancorp by 4.0% during the second quarter. Amalgamated Bank now owns 4,737 shares of the bank’s stock worth $228,000 after acquiring an additional 183 shares during the period. 81.78% of the stock is currently owned by hedge funds and other institutional investors.

Ameris Bancorp (ABCB) opened at $54.50 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.98 and a quick ratio of 0.95. Ameris Bancorp has a 1 year low of $41.05 and a 1 year high of $56.85. The firm has a market capitalization of $1,993.72 and a price-to-earnings ratio of 21.51.

Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings results on Friday, January 26th. The bank reported $0.63 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.63. Ameris Bancorp had a return on equity of 11.73% and a net margin of 18.44%. The business had revenue of $89.90 million during the quarter, compared to analyst estimates of $96.28 million. During the same quarter last year, the company posted $0.63 EPS. Ameris Bancorp’s revenue for the quarter was up 3.1% on a year-over-year basis. research analysts expect that Ameris Bancorp will post 3.47 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Friday, December 29th were given a $0.10 dividend. The ex-dividend date was Thursday, December 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.73%. Ameris Bancorp’s dividend payout ratio (DPR) is 20.10%.

In related news, insider James A. Lahaise sold 14,200 shares of the stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $46.58, for a total value of $661,436.00. Following the completion of the transaction, the insider now owns 73,986 shares in the company, valued at approximately $3,446,267.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.63% of the company’s stock.

A number of research analysts recently issued reports on ABCB shares. BidaskClub lowered Ameris Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. ValuEngine lowered Ameris Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Piper Jaffray Companies set a $48.00 target price on Ameris Bancorp and gave the stock a “hold” rating in a report on Friday, October 6th. Keefe, Bruyette & Woods raised Ameris Bancorp from a “market perform” rating to an “outperform” rating in a report on Monday, November 20th. Finally, Zacks Investment Research raised Ameris Bancorp from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Tuesday, January 2nd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Ameris Bancorp currently has an average rating of “Buy” and a consensus target price of $55.33.

COPYRIGHT VIOLATION NOTICE: This piece was first published by Transcript Daily and is owned by of Transcript Daily. If you are accessing this piece on another website, it was stolen and reposted in violation of international copyright & trademark legislation. The correct version of this piece can be read at https://transcriptdaily.com/2018/02/02/family-legacy-inc-buys-new-holdings-in-ameris-bancorp-abcb.html.

Ameris Bancorp Profile

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.

Want to see what other hedge funds are holding ABCB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameris Bancorp (NASDAQ:ABCB).

Institutional Ownership by Quarter for Ameris Bancorp (NASDAQ:ABCB)

Receive News & Ratings for Ameris Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameris Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply