Allianz Asset Management GmbH Has $12.30 Million Holdings in Ameris Bancorp (ABCB)
Allianz Asset Management GmbH reduced its stake in Ameris Bancorp (NASDAQ:ABCB) by 22.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 256,283 shares of the bank’s stock after selling 75,998 shares during the quarter. Allianz Asset Management GmbH owned 0.69% of Ameris Bancorp worth $12,301,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in ABCB. Municipal Employees Retirement System of Michigan grew its stake in shares of Ameris Bancorp by 9.9% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 8,770 shares of the bank’s stock valued at $423,000 after purchasing an additional 790 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of Ameris Bancorp by 5.0% in the second quarter. Great West Life Assurance Co. Can now owns 53,471 shares of the bank’s stock valued at $2,574,000 after buying an additional 2,550 shares in the last quarter. Texas Permanent School Fund boosted its stake in shares of Ameris Bancorp by 2.1% in the second quarter. Texas Permanent School Fund now owns 27,110 shares of the bank’s stock valued at $1,307,000 after buying an additional 560 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Ameris Bancorp by 4.7% in the second quarter. Sei Investments Co. now owns 37,570 shares of the bank’s stock valued at $1,811,000 after buying an additional 1,685 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Ameris Bancorp by 11.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 157,748 shares of the bank’s stock valued at $7,604,000 after buying an additional 15,743 shares in the last quarter. Institutional investors own 82.01% of the company’s stock.
ABCB has been the topic of a number of analyst reports. Stephens restated a “buy” rating and issued a $52.00 price target on shares of Ameris Bancorp in a research note on Thursday, September 28th. Zacks Investment Research upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, September 15th. ValuEngine downgraded Ameris Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $52.00 price target on shares of Ameris Bancorp in a research note on Thursday, October 26th. Finally, Piper Jaffray Companies set a $50.00 price target on Ameris Bancorp and gave the company a “hold” rating in a research note on Monday, October 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Ameris Bancorp presently has an average rating of “Hold” and a consensus price target of $52.25.
Shares of Ameris Bancorp (ABCB) opened at $46.35 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.07 and a debt-to-equity ratio of 1.11. Ameris Bancorp has a 12 month low of $41.05 and a 12 month high of $51.30. The firm has a market capitalization of $1,749.86, a P/E ratio of 18.95 and a beta of 1.19.
Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings results on Thursday, October 19th. The bank reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.02). The business had revenue of $93.85 million during the quarter, compared to analysts’ expectations of $96.89 million. Ameris Bancorp had a net margin of 21.57% and a return on equity of 12.12%. research analysts anticipate that Ameris Bancorp will post 2.48 EPS for the current year.
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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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