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.
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.
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