Bank of New York Mellon Corp grew its position in Ameris Bancorp (NASDAQ:ABCB) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 804,157 shares of the bank’s stock after purchasing an additional 15,052 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.69% of Ameris Bancorp worth $42,901,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Optimum Investment Advisors bought a new stake in shares of Ameris Bancorp in the 1st quarter valued at $116,000. SG Americas Securities LLC bought a new stake in shares of Ameris Bancorp in the 1st quarter valued at $124,000. SeaCrest Wealth Management LLC bought a new stake in shares of Ameris Bancorp in the 2nd quarter valued at $163,000. Kovack Advisors Inc. bought a new stake in shares of Ameris Bancorp in the 1st quarter valued at $203,000. Finally, LPL Financial LLC bought a new stake in shares of Ameris Bancorp in the 1st quarter valued at $279,000. 78.40% of the stock is currently owned by institutional investors.
Shares of NASDAQ ABCB opened at $49.90 on Thursday. The firm has a market cap of $2.36 billion, a P/E ratio of 20.12 and a beta of 1.08. Ameris Bancorp has a 12-month low of $41.05 and a 12-month high of $59.05. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.03.
Ameris Bancorp (NASDAQ:ABCB) last issued its earnings results on Friday, July 27th. The bank reported $0.74 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.10). The company had revenue of $107.31 million for the quarter, compared to the consensus estimate of $108.92 million. Ameris Bancorp had a return on equity of 10.84% and a net margin of 15.07%. equities research analysts predict that Ameris Bancorp will post 3.35 earnings per share for the current fiscal year.
In related news, Director Elizabeth A. Mccague bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 24th. The shares were acquired at an average cost of $50.05 per share, with a total value of $50,050.00. Following the completion of the purchase, the director now directly owns 5,226 shares in the company, valued at $261,561.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Leo J. Hill bought 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 2nd. The shares were bought at an average cost of $48.38 per share, for a total transaction of $96,760.00. Following the completion of the purchase, the director now 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 owned by corporate insiders.
ABCB has been the topic of a number of analyst reports. BidaskClub lowered shares of Ameris Bancorp from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 28th. Zacks Investment Research raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, August 10th. Piper Jaffray Companies set a $54.00 target price on shares of Ameris Bancorp and gave the stock a “hold” rating in a research note on Monday, July 30th. Stephens reissued a “buy” rating and set a $62.00 target price on shares of Ameris Bancorp in a research note on Friday, July 27th. Finally, SunTrust Banks lowered shares of Ameris Bancorp from a “buy” rating to a “hold” rating and set a $60.00 target price on the stock. in a research note on Tuesday, June 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $58.33.
Ameris Bancorp Company 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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