SG Americas Securities LLC Sells 3,173 Shares of Ameris Bancorp (ABCB)
SG Americas Securities LLC decreased its position in shares of Ameris Bancorp (NASDAQ:ABCB) by 56.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,410 shares of the bank’s stock after selling 3,173 shares during the period. SG Americas Securities LLC’s holdings in Ameris Bancorp were worth $111,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the stock. 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 worth $134,000 after buying an additional 1,620 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Ameris Bancorp during the first quarter worth about $136,000. 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 worth $186,000 after buying an additional 280 shares in the last quarter. 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 worth $203,000 after buying an additional 142 shares in the last quarter. Finally, Arcus Capital Partners LLC increased its stake in Ameris Bancorp by 3.1% in the first quarter. Arcus Capital Partners LLC now owns 5,846 shares of the bank’s stock worth $270,000 after buying an additional 177 shares in the last quarter. Institutional investors and hedge funds own 84.17% of the company’s stock.
Shares of Ameris Bancorp (NASDAQ ABCB) opened at 46.85 on Tuesday. Ameris Bancorp has a 1-year low of $30.31 and a 1-year high of $49.80. The company has a market capitalization of $1.67 billion, a P/E ratio of 20.45 and a beta of 1.28. The firm’s 50 day moving average price is $45.88 and its 200-day moving average price is $45.69.
Ameris Bancorp (NASDAQ:ABCB) last posted its earnings results on Friday, April 21st. The bank reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The firm had revenue of $86.30 million for 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%. Analysts expect that Ameris Bancorp will post $2.60 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 10th. Investors of record on Friday, June 30th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Wednesday, June 28th. Ameris Bancorp’s dividend payout ratio (DPR) is 17.47%.
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A number of research firms have issued reports on ABCB. BidaskClub downgraded Ameris Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Zacks Investment Research downgraded Ameris Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, March 27th. Keefe, Bruyette & Woods restated a “hold” rating and set a $51.00 price target on shares of Ameris Bancorp in a research note on Monday, June 26th. ValuEngine upgraded Ameris Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, SunTrust Banks, Inc. upgraded Ameris Bancorp from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $49.20.
In related news, CAO Cindi H. Lewis sold 3,200 shares of the firm’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $46.00, for a total transaction of $147,200.00. Following the sale, the chief accounting officer now directly owns 70,578 shares of the company’s stock, valued at $3,246,588. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Edwin W. Hortman, Jr. sold 27,459 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 207,725 shares in the company, valued at $9,698,680.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 1,860 shares of company stock worth $84,541 and have sold 78,474 shares worth $3,691,854. 3.63% of the stock is owned by company insiders.
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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