California Public Employees Retirement System decreased its position in shares of Ameris Bancorp (NASDAQ:ABCB) by 7.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,624 shares of the bank’s stock after selling 3,119 shares during the period. California Public Employees Retirement System owned 0.11% of Ameris Bancorp worth $2,006,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Bank of Montreal Can lifted its position in Ameris Bancorp by 45.8% during the fourth quarter. Bank of Montreal Can now owns 3,188 shares of the bank’s stock valued at $153,000 after acquiring an additional 1,002 shares during the last quarter. Aperio Group LLC purchased a new stake in Ameris Bancorp during the third quarter valued at approximately $204,000. SG Americas Securities LLC purchased a new stake in Ameris Bancorp during the third quarter valued at approximately $285,000. Family Legacy Inc. purchased a new stake in Ameris Bancorp during the fourth quarter valued at approximately $590,000. Finally, Teacher Retirement System of Texas purchased a new stake in Ameris Bancorp during the fourth quarter valued at approximately $615,000. 83.25% of the stock is owned by institutional investors.
ABCB stock opened at $52.15 on Friday. The stock has a market cap of $2,143.38, a price-to-earnings ratio of 26.21 and a beta of 1.21. Ameris Bancorp has a fifty-two week low of $41.05 and a fifty-two week high of $59.05. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 0.42.
Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings results on Friday, January 26th. The bank reported $0.63 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.63. The business had revenue of $89.90 million during the quarter, compared to analysts’ expectations of $96.28 million. Ameris Bancorp had a net margin of 18.44% and a return on equity of 11.73%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the company posted $0.63 earnings per share. sell-side analysts expect that Ameris Bancorp will post 3.49 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Friday, March 30th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.77%. Ameris Bancorp’s dividend payout ratio is currently 20.10%.
In related news, insider Edwin W. Hortman, Jr. sold 10,000 shares of the firm’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $57.49, for a total transaction of $574,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Lawton E. Bassett III sold 823 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $53.15, for a total transaction of $43,742.45. Following the transaction, the president now directly owns 19,408 shares of the company’s stock, valued at approximately $1,031,535.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,159 shares of company stock valued at $2,575,646. Corporate insiders own 3.63% of the company’s stock.
A number of equities research analysts recently commented on ABCB shares. Zacks Investment Research raised shares of Ameris Bancorp from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research report on Tuesday, January 2nd. SunTrust Banks raised their price target on shares of Ameris Bancorp from $10.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, January 29th. BidaskClub raised shares of Ameris Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, January 31st. ValuEngine raised shares of Ameris Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Sandler O’Neill set a $57.00 price target on shares of Ameris Bancorp and gave the stock a “hold” rating in a report on Monday, January 29th. One analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Ameris Bancorp presently has an average rating of “Buy” and a consensus price target of $55.33.
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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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