Salzhauer Michael Has $283,000 Position in Ameris Bancorp (ABCB)
Salzhauer Michael continued to hold its stake in shares of Ameris Bancorp (NASDAQ:ABCB) during the second quarter, Holdings Channel reports. The fund owned 5,869 shares of the bank’s stock at the end of the second quarter. Salzhauer Michael’s holdings in Ameris Bancorp were worth $283,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of ABCB. LS Investment Advisors LLC raised its stake in shares of 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 during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Ameris Bancorp during the first quarter valued at about $136,000. Victory Capital Management Inc. raised its stake in shares of Ameris Bancorp by 1.6% in the first quarter. Victory Capital Management Inc. now owns 3,506 shares of the bank’s stock valued at $162,000 after buying an additional 55 shares during the last quarter. First Interstate Bank raised its stake in shares of Ameris Bancorp by 8.8% in the first quarter. First Interstate Bank now owns 3,845 shares of the bank’s stock valued at $177,000 after buying an additional 310 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of 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 during the last quarter. Hedge funds and other institutional investors own 84.17% of the company’s stock.
Shares of Ameris Bancorp (NASDAQ:ABCB) traded up 0.53% during mid-day trading on Thursday, hitting $47.35. The company’s stock had a trading volume of 21,690 shares. Ameris Bancorp has a 52-week low of $30.31 and a 52-week high of $49.80. The stock’s 50 day moving average price is $47.05 and its 200 day moving average price is $46.01. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 20.67 and a beta of 1.28.
Ameris Bancorp (NASDAQ:ABCB) last released its earnings results on Friday, April 21st. The bank reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The company had revenue of $86.30 million for the quarter, compared to the consensus estimate of $86.84 million. Ameris Bancorp had a return on equity of 12.74% and a net margin of 22.56%. Equities analysts forecast 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 given a dividend of $0.10 per share. The ex-dividend date was Wednesday, June 28th. This represents a $0.40 annualized dividend and a yield of 0.85%. Ameris Bancorp’s dividend payout ratio (DPR) is presently 17.47%.
Several brokerages have issued reports on ABCB. BidaskClub lowered Ameris Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Zacks Investment Research lowered 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 issued a $51.00 target price 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 target price on the stock in a research note on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Ameris Bancorp currently has a consensus rating of “Hold” and an average price target of $49.20.
In related news, COO Dennis J. Zember, Jr. sold 15,000 shares of Ameris Bancorp stock in a transaction 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 transaction, the chief operating officer now directly owns 148,727 shares in the company, valued at $7,046,685.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Cindi H. Lewis sold 3,200 shares of Ameris Bancorp stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $46.00, for a total value of $147,200.00. Following the transaction, the chief accounting officer now owns 70,578 shares in the company, valued at $3,246,588. The disclosure for this sale can be found here. Over the last quarter, 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 currently owned by insiders.
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.
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