12,401 Shares in Ameris Bancorp (ABCB) Acquired by Cetera Investment Advisers
Cetera Investment Advisers acquired a new stake in shares of Ameris Bancorp (NASDAQ:ABCB) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 12,401 shares of the bank’s stock, valued at approximately $597,000.
Several other hedge funds have also recently made changes to their positions in the company. Piedmont Investment Advisors LLC bought a new stake in shares of Ameris Bancorp during the 2nd quarter valued at $387,000. Ameritas Investment Partners Inc. raised its position in shares of Ameris Bancorp by 8.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,188 shares of the bank’s stock valued at $154,000 after purchasing an additional 248 shares during the period. Susquehanna International Group LLP bought a new stake in shares of Ameris Bancorp during the 2nd quarter valued at $296,000. The Manufacturers Life Insurance Company raised its position in shares of Ameris Bancorp by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,217,548 shares of the bank’s stock valued at $58,686,000 after purchasing an additional 20,713 shares during the period. Finally, State Street Corp raised its position in shares of Ameris Bancorp by 7.3% during the 2nd quarter. State Street Corp now owns 1,258,947 shares of the bank’s stock valued at $60,687,000 after purchasing an additional 85,137 shares during the period. Hedge funds and other institutional investors own 82.40% of the company’s stock.
ABCB has been the topic of several recent analyst reports. Stephens restated a “buy” rating and set a $52.00 price objective on shares of Ameris Bancorp in a research report on Thursday, September 28th. Zacks Investment Research upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Friday, September 15th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $51.00 price target on shares of Ameris Bancorp in a report on Monday, June 26th. BidaskClub downgraded shares of Ameris Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, Piper Jaffray Companies reiterated a “neutral” rating and issued a $47.50 price target on shares of Ameris Bancorp in a report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $51.50.
Ameris Bancorp (NASDAQ:ABCB) traded down 0.20% during mid-day trading on Wednesday, hitting $49.05. 18,962 shares of the stock were exchanged. Ameris Bancorp has a 52-week low of $35.15 and a 52-week high of $51.28. The stock has a market cap of $1.82 billion, a PE ratio of 21.07 and a beta of 1.30. The stock’s 50 day moving average is $45.83 and its 200 day moving average is $45.94.
Ameris Bancorp (NASDAQ:ABCB) last issued 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). The business had revenue of $91.35 million during the quarter, compared to analyst estimates of $92.71 million. Ameris Bancorp had a net margin of 22.66% and a return on equity of 12.52%. Analysts forecast that Ameris Bancorp will post $2.53 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend was Thursday, September 28th. Ameris Bancorp’s dividend payout ratio (DPR) is 17.09%.
In other Ameris Bancorp news, Director Leo J. Hill bought 1,000 shares of Ameris Bancorp stock in a transaction dated Thursday, September 7th. The stock was acquired at an average cost of $42.75 per share, for a total transaction of $42,750.00. Following the completion of the transaction, the director now directly owns 16,629 shares of the company’s stock, valued at $710,889.75. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.63% of the stock is owned by corporate insiders.
Ameris Bancorp 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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