California Public Employees Retirement System increased its position in Ameris Bancorp (NASDAQ:ABCB) by 20.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 52,200 shares of the company’s stock after buying an additional 8,800 shares during the period. California Public Employees Retirement System owned approximately 0.15% of Ameris Bancorp worth $1,550,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in ABCB. Legal & General Group Plc boosted its position in Ameris Bancorp by 17.6% in the first quarter. Legal & General Group Plc now owns 4,734 shares of the company’s stock valued at $137,000 after buying an additional 709 shares during the period. BNP Paribas Arbitrage SA boosted its position in Ameris Bancorp by 123.5% in the second quarter. BNP Paribas Arbitrage SA now owns 8,941 shares of the company’s stock valued at $266,000 after buying an additional 4,940 shares during the period. Barclays PLC acquired a new position in Ameris Bancorp during the first quarter valued at approximately $296,000. New York State Teachers Retirement System boosted its position in Ameris Bancorp by 3.5% in the second quarter. New York State Teachers Retirement System now owns 11,900 shares of the company’s stock valued at $353,000 after buying an additional 400 shares during the period. Finally, Capstone Asset Management Co. boosted its position in Ameris Bancorp by 19.2% in the second quarter. Capstone Asset Management Co. now owns 14,270 shares of the company’s stock valued at $424,000 after buying an additional 2,300 shares during the period. Hedge funds and other institutional investors own 80.12% of the company’s stock.
Ameris Bancorp (NASDAQ:ABCB) traded up 1.01% during midday trading on Monday, hitting $35.97. The company had a trading volume of 35,653 shares. The company’s 50 day moving average is $34.96 and its 200-day moving average is $31.91. Ameris Bancorp has a one year low of $24.96 and a one year high of $36.20. The company has a market cap of $1.25 billion, a P/E ratio of 19.31 and a beta of 1.33.
Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings data on Friday, July 22nd. The company reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.04. Ameris Bancorp had a return on equity of 12.02% and a net margin of 19.56%. On average, equities analysts predict that Ameris Bancorp will post $2.12 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 11th. Investors of record on Friday, September 30th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.12%. This is an increase from Ameris Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Wednesday, September 28th. Ameris Bancorp’s dividend payout ratio (DPR) is presently 21.62%.
Several equities analysts have recently commented on ABCB shares. Sandler O’Neill cut Ameris Bancorp from a “buy” rating to a “hold” rating and increased their target price for the company from $36.00 to $38.00 in a research note on Tuesday, September 27th. Zacks Investment Research cut Ameris Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, June 24th. Finally, Keefe, Bruyette & Woods increased their target price on Ameris Bancorp from $31.00 to $35.00 and gave the company a “market perform” rating in a research note on Monday, July 25th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $34.30.
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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