Metropolitan Life Insurance Co. NY trimmed its stake in shares of Ameris Bancorp (NASDAQ:ABCB) by 51.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 11,793 shares of the bank’s stock after selling 12,735 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Ameris Bancorp were worth $568,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the company. Bank of Montreal Can lifted its position in shares of Ameris Bancorp by 45.8% during the 4th quarter. Bank of Montreal Can now owns 3,188 shares of the bank’s stock worth $153,000 after buying an additional 1,002 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Ameris Bancorp during the 3rd quarter worth $285,000. Flinton Capital Management LLC lifted its position in shares of Ameris Bancorp by 19.0% during the 4th quarter. Flinton Capital Management LLC now owns 6,188 shares of the bank’s stock worth $298,000 after buying an additional 986 shares during the last quarter. Virtus Fund Advisers LLC lifted its position in shares of Ameris Bancorp by 20.5% during the 4th quarter. Virtus Fund Advisers LLC now owns 6,334 shares of the bank’s stock worth $306,000 after buying an additional 1,078 shares during the last quarter. Finally, Ellington Management Group LLC bought a new stake in shares of Ameris Bancorp during the 4th quarter worth $337,000. Hedge funds and other institutional investors own 83.09% of the company’s stock.
In related news, COO Dennis J. Zember, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $54.81, for a total transaction of $274,050.00. Following the completion of the sale, the chief operating officer now owns 156,063 shares of the company’s stock, valued at $8,553,813.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Lawton E. Bassett III sold 823 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $53.15, for a total value of $43,742.45. Following the sale, 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 three months, insiders sold 46,159 shares of company stock valued at $2,575,646. Insiders own 3.07% of the company’s stock.
A number of brokerages have issued reports on ABCB. Zacks Investment Research raised Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, April 3rd. BidaskClub raised Ameris Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, January 31st. SunTrust Banks upped their target price on Ameris Bancorp from $10.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, January 29th. ValuEngine raised 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 target price on Ameris Bancorp and gave the stock a “hold” rating in a report on Monday, January 29th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $55.33.
Shares of ABCB stock opened at $51.85 on Thursday. The stock has a market capitalization of $1,985.17, a PE ratio of 20.91 and a beta of 1.21. 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 has a 1-year low of $41.05 and a 1-year high of $59.05.
Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings results on Friday, January 26th. The bank reported $0.63 earnings per share for the quarter, meeting the consensus estimate of $0.63. The company had revenue of $89.90 million during the quarter, compared to analysts’ expectations of $96.28 million. Ameris Bancorp had a return on equity of 11.73% and a net margin of 18.44%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. research analysts predict that Ameris Bancorp will post 3.54 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 10th. Stockholders of record on Friday, March 30th were paid a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, March 28th. This represents a $0.40 annualized dividend and a dividend yield of 0.77%. Ameris Bancorp’s payout ratio is 16.13%.
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Ameris Bancorp Profile
Ameris Bancorp operates as the holding company for Ameris Bank that provides banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, and South Carolina. The company operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, Small Business Administration Division, and Premium Finance Division.
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