Ameris Bancorp (NASDAQ:ABCB) Stake Boosted by Legal & General Group Plc
Legal & General Group Plc boosted its stake in shares of Ameris Bancorp (NASDAQ:ABCB) by 13.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,071 shares of the bank’s stock after buying an additional 7,615 shares during the period. Legal & General Group Plc’s holdings in Ameris Bancorp were worth $2,999,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of the company. Redwood Investments LLC bought a new stake in shares of Ameris Bancorp during the first quarter valued at about $8,479,000. State Street Corp raised its stake in shares of Ameris Bancorp by 14.9% in the fourth quarter. State Street Corp now owns 977,570 shares of the bank’s stock valued at $42,621,000 after buying an additional 126,537 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Ameris Bancorp by 13.5% in the first quarter. Ameriprise Financial Inc. now owns 952,289 shares of the bank’s stock valued at $43,900,000 after buying an additional 113,409 shares during the last quarter. GW&K Investment Management LLC raised its stake in shares of Ameris Bancorp by 8.1% in the first quarter. GW&K Investment Management LLC now owns 733,473 shares of the bank’s stock valued at $33,813,000 after buying an additional 54,689 shares during the last quarter. Finally, Stieven Capital Advisors L.P. raised its stake in shares of Ameris Bancorp by 63.9% in the first quarter. Stieven Capital Advisors L.P. now owns 126,470 shares of the bank’s stock valued at $5,830,000 after buying an additional 49,300 shares during the last quarter. Institutional investors own 84.08% of the company’s stock.
Ameris Bancorp (NASDAQ:ABCB) traded up 1.76% on Friday, reaching $46.25. 120,037 shares of the company traded hands. Ameris Bancorp has a 1-year low of $32.35 and a 1-year high of $51.28. The stock’s 50-day moving average is $47.36 and its 200-day moving average is $46.18. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 19.87 and a beta of 1.27.
Ameris Bancorp (NASDAQ:ABCB) last announced its earnings results on Friday, July 21st. The bank reported $0.63 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.02. Ameris Bancorp had a net margin of 22.66% and a return on equity of 12.52%. The business had revenue of $91.35 million for the quarter, compared to analysts’ expectations of $92.71 million. Equities research analysts expect that Ameris Bancorp will post $2.55 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 10th. Shareholders of record on Friday, June 30th were issued a dividend of $0.10 per share. The ex-dividend date was Wednesday, June 28th. This represents a $0.40 dividend on an annualized basis and a yield of 0.86%. Ameris Bancorp’s dividend payout ratio is currently 17.09%.
ABCB has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, April 28th. BidaskClub upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Stephens restated a “buy” rating and set a $52.00 price target on shares of Ameris Bancorp in a research note on Friday, April 21st. SunTrust Banks, Inc. upgraded shares of 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. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $51.00 price target on shares of Ameris Bancorp in a research note on Wednesday, May 24th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $49.33.
In other Ameris Bancorp news, Director Elizabeth A. Mccague bought 1,060 shares of Ameris Bancorp stock in a transaction on Monday, May 8th. The stock was acquired at an average cost of $47.00 per share, with a total value of $49,820.00. Following the completion of the acquisition, the director now owns 2,180 shares in the company, valued at $102,460. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edwin W. Hortman, Jr. sold 27,459 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $46.69, for a total transaction of $1,282,060.71. Following the sale, the chief executive officer now directly owns 207,725 shares of the company’s stock, valued at $9,698,680.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 2,160 shares of company stock valued at $98,368. 3.63% of the stock is owned by corporate 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.
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.