Citigroup Inc. boosted its holdings in shares of Ameris Bancorp (NASDAQ:ABCB – Get Rating) by 40.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,146 shares of the bank’s stock after purchasing an additional 13,481 shares during the quarter. Citigroup Inc. owned approximately 0.07% of Ameris Bancorp worth $2,222,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. BlackRock Inc. boosted its position in Ameris Bancorp by 1.6% during the third quarter. BlackRock Inc. now owns 10,150,631 shares of the bank’s stock worth $453,836,000 after purchasing an additional 158,483 shares in the last quarter. Vanguard Group Inc. boosted its position in Ameris Bancorp by 2.2% during the third quarter. Vanguard Group Inc. now owns 7,346,699 shares of the bank’s stock worth $328,470,000 after purchasing an additional 158,489 shares in the last quarter. Wellington Management Group LLP boosted its position in Ameris Bancorp by 7.4% during the first quarter. Wellington Management Group LLP now owns 5,201,328 shares of the bank’s stock worth $228,235,000 after purchasing an additional 358,777 shares in the last quarter. State Street Corp boosted its position in Ameris Bancorp by 14.3% during the first quarter. State Street Corp now owns 3,897,720 shares of the bank’s stock worth $171,622,000 after purchasing an additional 488,485 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Ameris Bancorp by 7.1% during the third quarter. Dimensional Fund Advisors LP now owns 3,630,195 shares of the bank’s stock worth $162,307,000 after purchasing an additional 240,506 shares in the last quarter. Hedge funds and other institutional investors own 86.74% of the company’s stock.
Insiders Place Their Bets
In other Ameris Bancorp news, Director William Millard Choate bought 7,490 shares of the business’s stock in a transaction on Tuesday, May 23rd. The stock was bought at an average price of $33.38 per share, with a total value of $250,016.20. Following the completion of the purchase, the director now directly owns 7,490 shares in the company, valued at $250,016.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director William I. Jr. Bowen acquired 670 shares of the company’s stock in a transaction dated Friday, March 10th. The stock was acquired at an average cost of $41.20 per share, with a total value of $27,604.00. Following the completion of the purchase, the director now owns 22,872 shares of the company’s stock, valued at approximately $942,326.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William Millard Choate acquired 7,490 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The stock was purchased at an average cost of $33.38 per share, with a total value of $250,016.20. Following the completion of the purchase, the director now directly owns 7,490 shares of the company’s stock, valued at approximately $250,016.20. The disclosure for this purchase can be found here. Insiders acquired a total of 40,160 shares of company stock valued at $1,256,130 over the last quarter. 5.50% of the stock is owned by insiders.
Ameris Bancorp Price Performance
Ameris Bancorp (NASDAQ:ABCB – Get Rating) last posted its earnings results on Friday, April 28th. The bank reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.34). The business had revenue of $267.70 million for the quarter, compared to analyst estimates of $264.36 million. Ameris Bancorp had a return on equity of 9.94% and a net margin of 25.82%. Ameris Bancorp’s revenue was up 3.2% compared to the same quarter last year. During the same period last year, the business earned $1.08 EPS. Equities research analysts expect that Ameris Bancorp will post 4.4 EPS for the current fiscal year.
Ameris Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, April 10th. Shareholders of record on Friday, March 31st were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, March 30th. This represents a $0.60 annualized dividend and a yield of 1.85%. Ameris Bancorp’s dividend payout ratio (DPR) is 12.79%.
Analyst Upgrades and Downgrades
ABCB has been the topic of several research reports. Keefe, Bruyette & Woods decreased their target price on Ameris Bancorp to $54.00 in a research report on Thursday, April 6th. Piper Sandler decreased their target price on Ameris Bancorp from $51.00 to $46.00 in a research report on Monday, May 1st. DA Davidson restated a “neutral” rating on shares of Ameris Bancorp in a research report on Friday, March 3rd. StockNews.com initiated coverage on Ameris Bancorp in a research report on Thursday, May 18th. They issued a “sell” rating on the stock. Finally, Truist Financial decreased their target price on Ameris Bancorp from $43.00 to $38.00 in a research report on Monday, May 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $45.40.
About Ameris Bancorp
Ameris Bancorp is a bank holding company, which through the subsidiary, Ameris Bank, engages in the provision of banking services to its retail and commercial customers. It operates through the following business segments: Banking, Retail Mortgage, Warehouse Lending, the SBA and Premium Finance. The Banking segment offers full service financial services to include commercial loans, consumer loans and deposit accounts.
Read More
- Get a free copy of the StockNews.com research report on Ameris Bancorp (ABCB)
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