Horizon Investment Services LLC Buys 7,399 Shares of Ameris Bancorp (ABCB)
Horizon Investment Services LLC increased its stake in shares of Ameris Bancorp (NASDAQ:ABCB) by 13.5% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 62,327 shares of the bank’s stock after acquiring an additional 7,399 shares during the period. Horizon Investment Services LLC owned approximately 0.17% of Ameris Bancorp worth $3,004,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. US Bancorp DE boosted its holdings in Ameris Bancorp by 45.4% in the 1st quarter. US Bancorp DE now owns 6,642 shares of the bank’s stock worth $306,000 after acquiring an additional 2,075 shares during the period. Swiss National Bank grew its position in Ameris Bancorp by 11.0% in the first quarter. Swiss National Bank now owns 60,464 shares of the bank’s stock valued at $2,787,000 after acquiring an additional 6,000 shares in the last quarter. UBS Asset Management Americas Inc. grew its position in Ameris Bancorp by 241.1% in the first quarter. UBS Asset Management Americas Inc. now owns 18,909 shares of the bank’s stock valued at $872,000 after acquiring an additional 13,365 shares in the last quarter. Texas Permanent School Fund grew its position in Ameris Bancorp by 4.2% in the first quarter. Texas Permanent School Fund now owns 26,550 shares of the bank’s stock valued at $1,224,000 after acquiring an additional 1,081 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its position in Ameris Bancorp by 154.0% in the first quarter. Parametric Portfolio Associates LLC now owns 40,344 shares of the bank’s stock valued at $1,860,000 after acquiring an additional 24,460 shares in the last quarter. 82.41% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently issued reports on ABCB. Zacks Investment Research lowered shares of Ameris Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 26th. Stephens restated a “buy” rating and issued a $54.00 target price on shares of Ameris Bancorp in a research note on Friday, July 21st. BidaskClub downgraded shares of Ameris Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $48.00 price target on shares of Ameris Bancorp in a report on Friday, July 21st. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $51.00 price target on shares of Ameris Bancorp in a report on Monday, June 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Ameris Bancorp presently has a consensus rating of “Hold” and a consensus target price of $51.20.
Shares of Ameris Bancorp (NASDAQ:ABCB) traded down 0.52% on Wednesday, reaching $48.25. The company had a trading volume of 65,571 shares. Ameris Bancorp has a 52-week low of $35.01 and a 52-week high of $51.28. The firm has a market capitalization of $1.79 billion, a PE ratio of 20.73 and a beta of 1.30. The company has a 50-day moving average price of $44.51 and a 200-day moving average price of $45.65.
Ameris Bancorp (NASDAQ:ABCB) last released its earnings results on Friday, July 21st. The bank reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.02). Ameris Bancorp had a return on equity of 12.52% and a net margin of 22.66%. The firm had revenue of $91.35 million for the quarter, compared to analyst estimates of $92.71 million. Equities research analysts forecast that Ameris Bancorp will post $2.54 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Thursday, September 28th. Ameris Bancorp’s dividend payout ratio is currently 17.09%.
In other Ameris Bancorp news, Director Leo J. Hill acquired 1,000 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were acquired at an average cost of $42.75 per share, for a total transaction of $42,750.00. Following the completion of the purchase, the director now owns 16,629 shares of the company’s stock, valued at approximately $710,889.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.63% of the company’s stock.
Ameris Bancorp Company Profile
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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