Northpointe Capital LLC decreased its position in Ameris Bancorp (NASDAQ:ABCB) by 8.9% during the second quarter, Holdings Channel reports. The firm owned 353,660 shares of the company’s stock after selling 34,626 shares during the period. Ameris Bancorp makes up 1.2% of Northpointe Capital LLC’s portfolio, making the stock its 21st largest position. Northpointe Capital LLC’s holdings in Ameris Bancorp were worth $10,504,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Texas Permanent School Fund increased its position in shares of Ameris Bancorp by 4.1% in the first quarter. Texas Permanent School Fund now owns 22,237 shares of the company’s stock worth $658,000 after buying an additional 883 shares during the period. Nisa Investment Advisors L.L.C. bought a new position in shares of Ameris Bancorp during the first quarter worth about $666,000. TIAA CREF Investment Management LLC increased its position in shares of Ameris Bancorp by 5.5% in the first quarter. TIAA CREF Investment Management LLC now owns 140,538 shares of the company’s stock worth $4,157,000 after buying an additional 7,368 shares during the period. Teachers Advisors Inc. increased its position in shares of Ameris Bancorp by 5.4% in the first quarter. Teachers Advisors Inc. now owns 69,408 shares of the company’s stock worth $2,053,000 after buying an additional 3,557 shares during the period. Finally, Prudential Financial Inc. increased its position in shares of Ameris Bancorp by 10.4% in the first quarter. Prudential Financial Inc. now owns 66,823 shares of the company’s stock worth $1,977,000 after buying an additional 6,300 shares during the period. Institutional investors own 80.12% of the company’s stock.
Shares of Ameris Bancorp (NASDAQ:ABCB) traded up 0.20% during midday trading on Monday, reaching $35.02. The company’s stock had a trading volume of 174,349 shares. The company’s 50-day moving average price is $34.69 and its 200 day moving average price is $31.68. The company has a market capitalization of $1.22 billion, a P/E ratio of 18.80 and a beta of 1.33. Ameris Bancorp has a 12-month low of $24.96 and a 12-month high of $36.20.
Ameris Bancorp (NASDAQ:ABCB) last announced its earnings results on Friday, July 22nd. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. Ameris Bancorp had a return on equity of 12.02% and a net margin of 19.56%. On average, equities research analysts forecast that Ameris Bancorp will post $2.12 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 11th. Stockholders of record on Friday, September 30th will be issued a $0.10 dividend. This is a boost from Ameris Bancorp’s previous quarterly dividend of $0.05. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Wednesday, September 28th. Ameris Bancorp’s dividend payout ratio is presently 21.62%.
ABCB has been the subject of a number of analyst reports. Zacks Investment Research downgraded Ameris Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, June 24th. Keefe, Bruyette & Woods raised their price objective on Ameris Bancorp from $31.00 to $35.00 and gave the stock a “market perform” rating in a research report on Monday, July 25th. Finally, Sandler O’Neill downgraded Ameris Bancorp from a “buy” rating to a “hold” rating and raised their price objective for the stock from $36.00 to $38.00 in a research report on Tuesday, September 27th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $34.30.
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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