Metropolitan Life Insurance Co. NY lifted its position in Ameris Bancorp (NASDAQ:ABCB) by 17.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,970 shares of the bank’s stock after buying an additional 1,972 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Ameris Bancorp were worth $692,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABCB. Wells Fargo & Company MN increased its position in shares of Ameris Bancorp by 1.5% in the 1st quarter. Wells Fargo & Company MN now owns 541,020 shares of the bank’s stock valued at $28,620,000 after buying an additional 8,180 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Ameris Bancorp in the 1st quarter valued at $124,000. Victory Capital Management Inc. increased its position in shares of Ameris Bancorp by 29.2% in the 1st quarter. Victory Capital Management Inc. now owns 6,183 shares of the bank’s stock valued at $327,000 after buying an additional 1,396 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Ameris Bancorp by 4.9% in the 1st quarter. Prudential Financial Inc. now owns 64,813 shares of the bank’s stock valued at $3,429,000 after buying an additional 3,050 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Ameris Bancorp by 1.1% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 187,207 shares of the bank’s stock valued at $9,904,000 after buying an additional 1,989 shares in the last quarter. Institutional investors and hedge funds own 78.39% of the company’s stock.

A number of equities analysts have issued reports on the company. BidaskClub upgraded Ameris Bancorp from a “strong sell” rating to a “sell” rating in a report on Thursday, September 13th. Zacks Investment Research upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Friday, August 10th. Piper Jaffray Companies set a $54.00 target price on Ameris Bancorp and gave the stock a “hold” rating in a report on Monday, July 30th. Stephens reiterated a “buy” rating and set a $62.00 target price on shares of Ameris Bancorp in a report on Friday, July 27th. Finally, SunTrust Banks cut Ameris Bancorp from a “buy” rating to a “hold” rating and set a $60.00 target price for the company. in a report on Tuesday, June 26th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $58.00.

Shares of NASDAQ ABCB opened at $47.05 on Wednesday. The stock has a market capitalization of $2.25 billion, a PE ratio of 17.38 and a beta of 1.08. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.03 and a quick ratio of 1.01. Ameris Bancorp has a fifty-two week low of $44.75 and a fifty-two week high of $59.05.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings data on Friday, July 27th. The bank reported $0.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.10). The company had revenue of $107.31 million during the quarter, compared to the consensus estimate of $108.92 million. Ameris Bancorp had a net margin of 15.07% and a return on equity of 10.84%. sell-side analysts forecast that Ameris Bancorp will post 3.32 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 10th. Stockholders of record on Friday, September 28th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Thursday, September 27th. Ameris Bancorp’s payout ratio is 16.13%.

In related news, Director Elizabeth A. Mccague acquired 1,000 shares of the firm’s 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 acquisition, the director now directly owns 5,226 shares of the company’s stock, valued at $261,561.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Leo J. Hill acquired 2,000 shares of the firm’s stock in a transaction dated Thursday, August 2nd. The stock was bought 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 in the company, valued at $918,445.92. The disclosure for this purchase can be found here. 3.07% of the stock is owned by company insiders.

About Ameris Bancorp

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

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