Ameris Bancorp (ABCB) Shares Bought by Ameriprise Financial Inc.
Ameriprise Financial Inc. raised its stake in Ameris Bancorp (NASDAQ:ABCB) by 13.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 952,289 shares of the bank’s stock after buying an additional 113,409 shares during the period. Ameriprise Financial Inc. owned 2.67% of Ameris Bancorp worth $43,900,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of ABCB. LS Investment Advisors LLC increased its stake in Ameris Bancorp by 126.5% in the first quarter. LS Investment Advisors LLC now owns 2,901 shares of the bank’s stock valued at $134,000 after buying an additional 1,620 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Ameris Bancorp by 7.4% in the first quarter. State of Alaska Department of Revenue now owns 4,050 shares of the bank’s stock valued at $186,000 after buying an additional 280 shares in the last quarter. Pacad Investment Ltd. acquired a new stake in Ameris Bancorp during the fourth quarter valued at approximately $192,000. Solaris Asset Management LLC increased its stake in Ameris Bancorp by 3.3% in the first quarter. Solaris Asset Management LLC now owns 4,402 shares of the bank’s stock valued at $203,000 after buying an additional 142 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Ameris Bancorp during the fourth quarter valued at approximately $211,000. Institutional investors and hedge funds own 84.18% of the company’s stock.
Shares of Ameris Bancorp (ABCB) traded down 1.24% on Friday, hitting $47.80. 292,566 shares of the stock were exchanged. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 20.86 and a beta of 1.32. Ameris Bancorp has a 52-week low of $27.92 and a 52-week high of $49.80. The company has a 50 day moving average of $45.85 and a 200 day moving average of $45.59.
Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings data on Friday, April 21st. The bank reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $86.30 million during the quarter, compared to analyst estimates of $86.84 million. Ameris Bancorp had a return on equity of 12.74% and a net margin of 22.56%. Equities research analysts forecast that Ameris Bancorp will post $2.60 earnings per share for the current year.
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Several equities research analysts recently commented on the stock. ValuEngine upgraded shares of Ameris Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Zacks Investment Research downgraded shares of Ameris Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, March 6th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $51.00 target price on shares of Ameris Bancorp in a research report on Wednesday, May 24th. SunTrust Banks, Inc. upgraded shares of Ameris Bancorp from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Wednesday, April 26th. Finally, Stephens reiterated a “buy” rating and set a $52.00 target price on shares of Ameris Bancorp in a research report on Friday, April 21st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $49.20.
In other news, COO Dennis J. Zember, Jr. sold 15,000 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $47.38, for a total transaction of $710,700.00. Following the completion of the sale, the chief operating officer now owns 148,727 shares of the company’s stock, valued at $7,046,685.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Edwin W. Hortman, Jr. sold 27,459 shares of the firm’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $46.69, for a total value of $1,282,060.71. Following the completion of the sale, the chief executive officer now directly owns 207,725 shares of the company’s stock, valued at approximately $9,698,680.25. The disclosure for this sale can be found here. In the last three months, insiders have bought 1,860 shares of company stock valued at $84,541 and have sold 78,474 shares valued at $3,691,854. Corporate insiders own 3.63% of the company’s stock.
Ameris Bancorp Company 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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