LS Investment Advisors LLC Has $140,000 Position in Ameris Bancorp (ABCB)
LS Investment Advisors LLC continued to hold its stake in shares of Ameris Bancorp (NASDAQ:ABCB) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,901 shares of the bank’s stock at the end of the second quarter. LS Investment Advisors LLC’s holdings in Ameris Bancorp were worth $140,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in the stock. Ameritas Investment Partners Inc. acquired 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 in 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 in the last quarter. 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 in the last quarter. Finally, Solaris Asset Management LLC raised its stake in shares of 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. 84.12% of the stock is owned by hedge funds and other institutional investors.
Shares of Ameris Bancorp (NASDAQ:ABCB) traded down 1.90% during midday trading on Thursday, reaching $44.00. The company had a trading volume of 22,134 shares. Ameris Bancorp has a 1-year low of $32.35 and a 1-year high of $51.28. The stock has a market capitalization of $1.64 billion, a PE ratio of 18.90 and a beta of 1.27. The company’s 50-day moving average is $46.96 and its 200-day moving average is $46.27.
Ameris Bancorp (NASDAQ:ABCB) last released its earnings results on Friday, July 21st. The bank reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by $0.02. Ameris Bancorp had a return on equity of 12.52% and a net margin of 22.66%. The business had revenue of $91.35 million for the quarter, compared to analysts’ expectations of $92.71 million. On average, equities research analysts forecast that Ameris Bancorp will post $2.55 EPS for the current year.
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Several equities research analysts recently weighed in on ABCB shares. BidaskClub lowered Ameris Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Zacks Investment Research lowered Ameris Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 26th. Piper Jaffray Companies reissued a “hold” rating and issued a $48.00 price objective on shares of Ameris Bancorp in a report on Friday, July 21st. Stephens reissued a “buy” rating and issued a $54.00 price objective on shares of Ameris Bancorp in a report on Friday, July 21st. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $51.00 price objective on shares of Ameris Bancorp in a report on Monday, June 26th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $49.33.
In related news, CAO Cindi H. Lewis sold 3,200 shares of the stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $46.00, for a total transaction of $147,200.00. Following the completion of the transaction, the chief accounting officer now directly owns 70,578 shares of the company’s stock, valued at $3,246,588. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Edwin W. Hortman, Jr. sold 27,459 shares of the stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $46.69, for a total value of $1,282,060.71. Following the transaction, 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 three months, insiders have purchased 1,100 shares of company stock valued at $48,548. 3.63% of the stock is owned by corporate 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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