New York State Teachers Retirement System Has $696,000 Position in Ameris Bancorp (ABCB)
New York State Teachers Retirement System raised its position in Ameris Bancorp (NASDAQ:ABCB) by 1.3% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 15,098 shares of the bank’s stock after buying an additional 200 shares during the period. New York State Teachers Retirement System’s holdings in Ameris Bancorp were worth $696,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in ABCB. Fisher Asset Management LLC boosted its stake in Ameris Bancorp by 71.9% in the first quarter. Fisher Asset Management LLC now owns 82,669 shares of the bank’s stock worth $3,811,000 after buying an additional 34,578 shares during the last quarter. State of Alaska Department of Revenue boosted 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 during the last quarter. Louisiana State Employees Retirement System boosted its stake in Ameris Bancorp by 6.4% in the first quarter. Louisiana State Employees Retirement System now owns 14,900 shares of the bank’s stock worth $687,000 after buying an additional 900 shares during the last quarter. TNB Financial purchased a new stake in Ameris Bancorp during the first quarter worth approximately $422,000. Finally, Bank of Montreal Can boosted its stake in Ameris Bancorp by 22.1% in the first quarter. Bank of Montreal Can now owns 56,194 shares of the bank’s stock worth $2,590,000 after buying an additional 10,174 shares during the last quarter. Institutional investors and hedge funds own 84.55% of the company’s stock.
Shares of Ameris Bancorp (NASDAQ ABCB) traded down 0.57% on Friday, reaching $43.35. 638,792 shares of the company were exchanged. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 18.62 and a beta of 1.27. Ameris Bancorp has a 52 week low of $33.27 and a 52 week high of $51.28. The firm’s 50 day moving average price is $46.38 and its 200 day moving average price is $46.22.
Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings data on Friday, July 21st. The bank reported $0.63 EPS for the quarter, missing the consensus estimate of $0.65 by $0.02. The business had revenue of $91.35 million during the quarter, compared to analysts’ expectations of $92.71 million. Ameris Bancorp had a net margin of 22.66% and a return on equity of 12.52%. Equities research analysts anticipate that Ameris Bancorp will post $2.55 EPS for the current year.
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A number of research firms have recently commented on ABCB. Stephens reiterated a “buy” rating and set a $52.00 price target on shares of Ameris Bancorp in a report on Friday, April 21st. BidaskClub downgraded shares of Ameris Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Piper Jaffray Companies restated a “hold” rating and set a $48.00 price objective on shares of Ameris Bancorp in a research report on Friday, July 21st. Keefe, Bruyette & Woods restated a “hold” rating and set a $51.00 price objective on shares of Ameris Bancorp in a research report on Wednesday, May 24th. Finally, Zacks Investment Research downgraded shares of Ameris Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $49.33.
In other news, CEO Edwin W. Hortman, Jr. sold 27,459 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 207,725 shares of the company’s stock, valued at approximately $9,698,680.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Cindi H. Lewis sold 3,200 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $46.00, for a total transaction of $147,200.00. Following the completion of the sale, the chief accounting officer now directly owns 70,578 shares in the company, valued at $3,246,588. The disclosure for this sale can be found here. 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.
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