New York State Teachers Retirement System lifted its stake in Ameris Bancorp (NASDAQ:ABCB) by 4.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,655 shares of the bank’s stock after acquiring an additional 1,300 shares during the period. New York State Teachers Retirement System’s holdings in Ameris Bancorp were worth $676,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ABCB. Advisor Group Holdings Inc. bought a new position in shares of Ameris Bancorp in the 1st quarter worth $29,000. Selective Wealth Management Inc. acquired a new position in Ameris Bancorp during the 2nd quarter valued at about $47,000. Mutual of America Capital Management LLC increased its position in Ameris Bancorp by 22.0% during the 1st quarter. Mutual of America Capital Management LLC now owns 2,860 shares of the bank’s stock valued at $68,000 after buying an additional 516 shares in the last quarter. Endurance Wealth Management Inc. acquired a new position in Ameris Bancorp during the 2nd quarter valued at about $71,000. Finally, Oppenheimer Asset Management Inc. increased its position in Ameris Bancorp by 15.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,314 shares of the bank’s stock valued at $103,000 after buying an additional 575 shares in the last quarter. 84.24% of the stock is owned by hedge funds and other institutional investors.
Ameris Bancorp stock opened at $23.08 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.98 and a current ratio of 1.07. The business’s 50-day simple moving average is $22.73 and its two-hundred day simple moving average is $28.00. The company has a market cap of $1.60 billion, a PE ratio of 11.89 and a beta of 1.48. Ameris Bancorp has a fifty-two week low of $17.12 and a fifty-two week high of $44.90.
Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings results on Monday, July 27th. The bank reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The business had revenue of $284.77 million for the quarter, compared to the consensus estimate of $218.95 million. Ameris Bancorp had a return on equity of 8.86% and a net margin of 12.69%. During the same quarter in the previous year, the business earned $0.96 EPS. As a group, analysts predict that Ameris Bancorp will post 2.93 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, June 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.60%. Ameris Bancorp’s payout ratio is 15.79%.
Several research analysts recently issued reports on the company. Zacks Investment Research lowered Ameris Bancorp from a “buy” rating to a “hold” rating in a research report on Friday. ValuEngine raised Ameris Bancorp from a “strong sell” rating to a “sell” rating in a research report on Friday, May 1st. DA Davidson assumed coverage on Ameris Bancorp in a research report on Thursday, May 21st. They set a “buy” rating and a $25.00 target price on the stock. BidaskClub lowered Ameris Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th. Finally, SunTrust Banks upped their target price on Ameris Bancorp from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Ameris Bancorp presently has a consensus rating of “Hold” and an average price target of $32.17.
Ameris Bancorp Profile
Ameris Bancorp operates as the bank holding company for Ameris Bank that provides banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, and South Carolina. The company operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division.
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