Macquarie Group Ltd. decreased its position in shares of Ameris Bancorp (NASDAQ:ABCB) by 76.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,554 shares of the company’s stock after selling 103,234 shares during the period. Macquarie Group Ltd. owned about 0.09% of Ameris Bancorp worth $967,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in ABCB. Geode Capital Management LLC increased its position in Ameris Bancorp by 8.0% in the first quarter. Geode Capital Management LLC now owns 199,724 shares of the company’s stock worth $5,907,000 after buying an additional 14,710 shares in the last quarter. Teachers Advisors Inc. increased its position in Ameris Bancorp by 5.4% in the first quarter. Teachers Advisors Inc. now owns 69,408 shares of the company’s stock worth $2,053,000 after buying an additional 3,557 shares in the last quarter. BlackRock Fund Advisors increased its position in Ameris Bancorp by 2.7% in the first quarter. BlackRock Fund Advisors now owns 1,864,546 shares of the company’s stock worth $55,153,000 after buying an additional 49,573 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in Ameris Bancorp by 5.5% in the first quarter. TIAA CREF Investment Management LLC now owns 140,538 shares of the company’s stock worth $4,157,000 after buying an additional 7,368 shares in the last quarter. Finally, Texas Permanent School Fund increased its position in Ameris Bancorp by 4.1% in the first quarter. Texas Permanent School Fund now owns 22,237 shares of the company’s stock worth $658,000 after buying an additional 883 shares in the last quarter. Institutional investors and hedge funds own 80.12% of the company’s stock.
Ameris Bancorp (NASDAQ:ABCB) opened at 35.36 on Thursday. Ameris Bancorp has a one year low of $24.96 and a one year high of $36.20. The company has a 50 day moving average of $34.37 and a 200-day moving average of $31.36. The stock has a market capitalization of $1.23 billion, a P/E ratio of 18.98 and a beta of 1.29.
Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings results on Friday, July 22nd. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. Ameris Bancorp had a return on equity of 12.02% and a net margin of 19.56%. Equities research analysts predict that Ameris Bancorp will post $2.12 earnings per share for the current fiscal year.
The firm also recently declared 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 is a positive change from Ameris Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date is Wednesday, September 28th. This represents a $0.40 dividend on an annualized basis and a yield of 1.13%. Ameris Bancorp’s dividend payout ratio (DPR) is presently 10.81%.
A number of equities analysts have issued reports on ABCB shares. Zacks Investment Research downgraded shares of Ameris Bancorp from a “buy” rating to a “hold” rating in a report on Friday, June 24th. Keefe, Bruyette & Woods lifted their price objective on shares of Ameris Bancorp from $31.00 to $35.00 and gave the stock a “market perform” rating in a report on Monday, July 25th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $32.90.
About Ameris Bancorp
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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