Tokio Marine Asset Management Co. Ltd. acquired a new stake in Ameris Bancorp (NASDAQ:ABCB) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 12,200 shares of the bank’s stock, valued at approximately $586,000.
Several other large investors have also made changes to their positions in ABCB. UBS Asset Management Americas Inc. lifted its stake in shares of Ameris Bancorp by 241.1% in the 1st quarter. UBS Asset Management Americas Inc. now owns 18,909 shares of the bank’s stock valued at $872,000 after purchasing an additional 13,365 shares during the period. Parametric Portfolio Associates LLC lifted its stake in shares of Ameris Bancorp by 154.0% in the 1st quarter. Parametric Portfolio Associates LLC now owns 40,344 shares of the bank’s stock valued at $1,860,000 after purchasing an additional 24,460 shares during the period. OppenheimerFunds Inc. acquired a new position in shares of Ameris Bancorp in the 1st quarter valued at about $279,000. Teachers Advisors LLC lifted its stake in shares of Ameris Bancorp by 5.2% in the 1st quarter. Teachers Advisors LLC now owns 83,142 shares of the bank’s stock valued at $3,833,000 after purchasing an additional 4,120 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Ameris Bancorp by 13.3% in the 1st quarter. Legal & General Group Plc now owns 65,071 shares of the bank’s stock valued at $2,999,000 after purchasing an additional 7,615 shares during the period. 82.66% of the stock is currently owned by institutional investors.
In other news, Director Leo J. Hill purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The shares were bought at an average cost of $42.75 per share, for a total transaction of $42,750.00. Following the acquisition, the director now owns 16,629 shares of the company’s stock, valued at approximately $710,889.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.63% of the company’s stock.
A number of brokerages have recently issued reports on ABCB. BidaskClub downgraded Ameris Bancorp from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Piper Jaffray Companies reissued a “hold” rating and issued a $48.00 price objective on shares of Ameris Bancorp in a research note on Friday, July 21st. Zacks Investment Research raised Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, September 15th. Stephens reissued a “buy” rating and issued a $54.00 price objective on shares of Ameris Bancorp in a research note on Friday, July 21st. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $52.00 price objective on shares of Ameris Bancorp in a research note on Thursday, October 26th. One investment 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 an average rating of “Hold” and a consensus price target of $52.25.
Shares of Ameris Bancorp (NASDAQ ABCB) opened at $48.10 on Friday. The company has a market capitalization of $1.79 billion, a PE ratio of 19.54 and a beta of 1.19. Ameris Bancorp has a 12-month low of $35.15 and a 12-month high of $51.28. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.07 and a quick ratio of 1.04.
Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings results on Thursday, October 19th. The bank reported $0.63 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.02). The firm had revenue of $93.85 million for the quarter, compared to the consensus estimate of $96.89 million. Ameris Bancorp had a net margin of 21.57% and a return on equity of 12.12%. equities analysts anticipate that Ameris Bancorp will post 2.49 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Friday, September 29th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.40 annualized dividend and a yield of 0.83%. Ameris Bancorp’s payout ratio is 17.70%.
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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