Ameritas Investment Partners Inc. Buys New Position in Ameris Bancorp (ABCB)

Ameritas Investment Partners Inc. bought a new position in Ameris Bancorp (NASDAQ:ABCB) during the first quarter, Holdings Channel reports. The institutional investor bought 2,940 shares of the bank’s stock, valued at approximately $136,000.

A number of other hedge funds have also bought and sold shares of ABCB. Dimensional Fund Advisors LP increased its stake in Ameris Bancorp by 5.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,478,681 shares of the bank’s stock worth $64,472,000 after buying an additional 72,117 shares during the period. State Street Corp increased its stake in Ameris Bancorp by 14.9% in the fourth quarter. State Street Corp now owns 977,570 shares of the bank’s stock worth $42,621,000 after buying an additional 126,537 shares during the period. Ameriprise Financial Inc. increased its stake in Ameris Bancorp by 13.5% in the first quarter. Ameriprise Financial Inc. now owns 952,289 shares of the bank’s stock worth $43,900,000 after buying an additional 113,409 shares during the period. GW&K Investment Management LLC increased its stake in Ameris Bancorp by 8.1% in the first quarter. GW&K Investment Management LLC now owns 733,473 shares of the bank’s stock worth $33,813,000 after buying an additional 54,689 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Ameris Bancorp by 3.0% in the first quarter. Wells Fargo & Company MN now owns 648,473 shares of the bank’s stock worth $29,894,000 after buying an additional 19,100 shares during the period. 84.18% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Ameris Bancorp (NASDAQ:ABCB)

Ameris Bancorp (NASDAQ:ABCB) opened at 46.40 on Friday. The firm has a 50-day moving average price of $45.85 and a 200-day moving average price of $45.65. Ameris Bancorp has a 12-month low of $27.92 and a 12-month high of $49.80. The stock has a market cap of $1.65 billion, a PE ratio of 20.25 and a beta of 1.32.

Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings data on Friday, April 21st. The bank reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02. Ameris Bancorp had a return on equity of 12.74% and a net margin of 22.56%. The business had revenue of $86.30 million for the quarter, compared to the consensus estimate of $86.84 million. Analysts forecast that Ameris Bancorp will post $2.60 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 10th. Investors of record on Friday, June 30th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Wednesday, June 28th. Ameris Bancorp’s payout ratio is 17.47%.

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ABCB has been the subject of a number of analyst reports. Zacks Investment Research cut Ameris Bancorp from a “hold” rating to a “sell” rating in a report on Monday, March 27th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $51.00 price target on shares of Ameris Bancorp in a report on Wednesday, May 24th. Stephens restated a “buy” rating and issued a $52.00 price target on shares of Ameris Bancorp in a report on Friday, April 21st. SunTrust Banks, Inc. upgraded Ameris Bancorp from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Wednesday, April 26th. Finally, ValuEngine upgraded Ameris Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $49.20.

In related news, CAO Cindi H. Lewis sold 3,200 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $46.00, for a total value of $147,200.00. Following the transaction, the chief accounting officer now directly owns 70,578 shares of the company’s stock, valued at approximately $3,246,588. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Edwin W. Hortman, Jr. sold 27,459 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $46.69, for a total value of $1,282,060.71. Following the completion of the transaction, the chief executive officer now directly owns 207,725 shares in the company, valued at $9,698,680.25. The disclosure for this sale can be found here. Over the last three months, insiders purchased 1,860 shares of company stock worth $84,541 and sold 78,474 shares worth $3,691,854. 3.63% of the stock is currently owned by company insiders.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:ABCB”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Want to see what other hedge funds are holding ABCB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameris Bancorp (NASDAQ:ABCB).

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