First Trust Advisors LP Trims Holdings in Ameris Bancorp (ABCB)
First Trust Advisors LP lowered its position in Ameris Bancorp (NASDAQ:ABCB) by 10.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 87,826 shares of the bank’s stock after selling 10,485 shares during the quarter. First Trust Advisors LP owned 0.24% of Ameris Bancorp worth $4,216,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in ABCB. Vanguard Group Inc. lifted its position in shares of Ameris Bancorp by 47.6% in the 1st quarter. Vanguard Group Inc. now owns 2,523,062 shares of the bank’s stock worth $116,312,000 after acquiring an additional 813,184 shares during the period. State Street Corp lifted its position in shares of Ameris Bancorp by 20.1% in the 1st quarter. State Street Corp now owns 1,173,810 shares of the bank’s stock worth $54,115,000 after acquiring an additional 196,240 shares during the period. Marshall Wace North America L.P. bought a new stake in shares of Ameris Bancorp in the 2nd quarter worth approximately $8,570,000. Oak Ridge Investments LLC bought a new stake in shares of Ameris Bancorp in the 2nd quarter worth approximately $7,953,000. Finally, Kennedy Capital Management Inc. lifted its position in shares of Ameris Bancorp by 10.6% during the 2nd quarter. Kennedy Capital Management Inc. now owns 609,227 shares of the bank’s stock worth $29,365,000 after buying an additional 58,456 shares during the period. Institutional investors own 83.57% of the company’s stock.
Ameris Bancorp (NASDAQ:ABCB) opened at $46.80 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $1,742.41, a P/E ratio of 18.87 and a beta of 1.19. Ameris Bancorp has a 52-week low of $41.05 and a 52-week high of $51.28.
Ameris Bancorp (NASDAQ:ABCB) last posted its earnings results on Thursday, October 19th. The bank reported $0.63 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.02). Ameris Bancorp had a return on equity of 12.12% and a net margin of 21.57%. The company had revenue of $93.85 million for the quarter, compared to the consensus estimate of $96.89 million. analysts forecast that Ameris Bancorp will post 2.49 earnings per share for the current fiscal year.
Several research firms recently commented on ABCB. Zacks Investment Research upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Piper Jaffray Companies restated a “hold” rating and set a $48.00 target price on shares of Ameris Bancorp in a research report on Friday, July 21st. BidaskClub downgraded Ameris Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Stephens restated a “buy” rating and set a $54.00 target price on shares of Ameris Bancorp in a research report on Friday, July 21st. Finally, ValuEngine downgraded Ameris Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $52.25.
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In other Ameris Bancorp news, Director Leo J. Hill purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was purchased at an average cost of $42.75 per share, with a total value of $42,750.00. Following the acquisition, the director now directly owns 16,629 shares of the company’s stock, valued at approximately $710,889.75. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.63% of the company’s stock.
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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