Raymond James & Associates Takes Position in Ameris Bancorp (ABCB)

Raymond James & Associates purchased a new stake in shares of Ameris Bancorp (NASDAQ:ABCB) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 5,586 shares of the bank’s stock, valued at approximately $298,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ABCB. Angelo Gordon & CO. L.P. bought a new position in Ameris Bancorp during the 2nd quarter valued at $78,187,000. BlackRock Inc. boosted its stake in Ameris Bancorp by 14.6% during the 2nd quarter. BlackRock Inc. now owns 5,583,722 shares of the bank’s stock valued at $297,890,000 after purchasing an additional 710,335 shares in the last quarter. Strs Ohio bought a new position in Ameris Bancorp during the 2nd quarter valued at $28,454,000. PL Capital Advisors LLC bought a new position in Ameris Bancorp during the 2nd quarter valued at $9,203,000. Finally, Cornerstone Wealth Management LLC bought a new position in Ameris Bancorp during the 2nd quarter valued at $2,138,000. 78.07% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have issued reports on ABCB. BidaskClub lowered Ameris Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 4th. Stephens reaffirmed a “buy” rating and set a $62.00 price target on shares of Ameris Bancorp in a research note on Friday, July 13th. TheStreet downgraded Ameris Bancorp from a “b” rating to a “c+” rating in a research report on Friday, August 17th. Zacks Investment Research downgraded Ameris Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, September 6th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $61.00 price objective on shares of Ameris Bancorp in a research report on Friday, July 27th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $57.67.

In other Ameris Bancorp news, Director Elizabeth A. Mccague bought 1,000 shares of Ameris Bancorp stock in a transaction dated Friday, August 24th. The stock was bought at an average price of $50.05 per share, for a total transaction of $50,050.00. Following the completion of the acquisition, the director now directly owns 5,226 shares of the company’s stock, valued at $261,561.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Leo J. Hill bought 2,000 shares of Ameris Bancorp stock in a transaction dated Thursday, August 2nd. The stock was acquired at an average price of $48.38 per share, with a total value of $96,760.00. Following the acquisition, the director now directly owns 18,984 shares of the company’s stock, valued at $918,445.92. The disclosure for this purchase can be found here. 3.07% of the stock is currently owned by corporate insiders.

Shares of NASDAQ:ABCB opened at $42.71 on Wednesday. Ameris Bancorp has a one year low of $39.34 and a one year high of $59.05. The firm has a market cap of $1.98 billion, a PE ratio of 17.22 and a beta of 1.13. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.01 and a quick ratio of 0.99.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings data on Friday, October 19th. The bank reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.01. Ameris Bancorp had a return on equity of 11.14% and a net margin of 17.99%. The company had revenue of $129.21 million during the quarter, compared to the consensus estimate of $135.44 million. On average, equities research analysts expect that Ameris Bancorp will post 3.32 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 10th. Stockholders of record on Friday, September 28th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, September 27th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.94%. Ameris Bancorp’s dividend payout ratio (DPR) is presently 16.13%.

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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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).

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

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