Ameris Bancorp (ABCB) Position Decreased by Northpointe Capital LLC
Northpointe Capital LLC reduced its position in shares of Ameris Bancorp (NASDAQ:ABCB) by 8.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 353,660 shares of the company’s stock after selling 34,626 shares during the period. Ameris Bancorp makes up 1.2% of Northpointe Capital LLC’s investment portfolio, making the stock its 21st largest position. Northpointe Capital LLC owned about 1.02% of Ameris Bancorp worth $10,504,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of the stock. BlackRock Fund Advisors raised its position in shares of Ameris Bancorp by 2.7% in the first quarter. BlackRock Fund Advisors now owns 1,864,546 shares of the company’s stock valued at $55,153,000 after buying an additional 49,573 shares in the last quarter. NWQ Investment Management Company LLC raised its position in shares of Ameris Bancorp by 88.9% in the first quarter. NWQ Investment Management Company LLC now owns 1,183,493 shares of the company’s stock valued at $35,008,000 after buying an additional 556,948 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Ameris Bancorp by 594.6% in the first quarter. Goldman Sachs Group Inc. now owns 597,273 shares of the company’s stock valued at $17,667,000 after buying an additional 511,290 shares in the last quarter. GW&K Investment Management LLC acquired a new position in shares of Ameris Bancorp during the second quarter valued at about $17,671,000. Finally, Kennedy Capital Management Inc. raised its position in shares of Ameris Bancorp by 2.6% in the first quarter. Kennedy Capital Management Inc. now owns 508,027 shares of the company’s stock valued at $15,027,000 after buying an additional 12,782 shares in the last quarter. Institutional investors and hedge funds own 80.12% of the company’s stock.
Ameris Bancorp (NASDAQ:ABCB) traded up 0.20% during trading on Monday, reaching $35.02. The company’s stock had a trading volume of 174,349 shares. The stock has a market cap of $1.22 billion, a PE ratio of 18.80 and a beta of 1.33. The company’s 50-day moving average is $34.69 and its 200-day moving average is $31.68. Ameris Bancorp has a 12 month low of $24.96 and a 12 month high of $36.20.
Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings results on Friday, July 22nd. The company reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.04. Ameris Bancorp had a return on equity of 12.02% and a net margin of 19.56%. Equities analysts expect that Ameris Bancorp will post $2.12 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 11th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.14%. This is a positive change from Ameris Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Wednesday, September 28th. Ameris Bancorp’s dividend payout ratio (DPR) is presently 21.62%.
Several equities analysts recently issued reports on ABCB shares. Keefe, Bruyette & Woods boosted their price objective on Ameris Bancorp from $31.00 to $35.00 and gave the company a “market perform” rating in a research report on Monday, July 25th. Zacks Investment Research lowered Ameris Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, June 24th. Finally, Sandler O’Neill lowered Ameris Bancorp from a “buy” rating to a “hold” rating and boosted their price objective for the company from $36.00 to $38.00 in a research report on Tuesday, September 27th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Ameris Bancorp currently has a consensus rating of “Hold” and a consensus target price of $34.30.
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.
Receive News & Stock 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 stocks with our FREE daily email newsletter.