Northern Trust Corp Has $24.21 Million Position in Ameris Bancorp (ABCB)

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Northern Trust Corp raised its stake in Ameris Bancorp (NASDAQ:ABCB) by 0.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 457,667 shares of the bank’s stock after acquiring an additional 3,732 shares during the period. Northern Trust Corp owned 1.19% of Ameris Bancorp worth $24,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABCB. Polaris Capital Management LLC boosted its stake in Ameris Bancorp by 47.1% in the first quarter. Polaris Capital Management LLC now owns 1,357,899 shares of the bank’s stock valued at $71,833,000 after acquiring an additional 435,031 shares in the last quarter. BlackRock Inc. boosted its stake in Ameris Bancorp by 3.8% in the fourth quarter. BlackRock Inc. now owns 4,746,644 shares of the bank’s stock valued at $228,788,000 after acquiring an additional 171,889 shares in the last quarter. Kennedy Capital Management Inc. boosted its stake in Ameris Bancorp by 30.5% in the fourth quarter. Kennedy Capital Management Inc. now owns 684,375 shares of the bank’s stock valued at $32,987,000 after acquiring an additional 160,148 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Ameris Bancorp by 18.6% in the fourth quarter. Bank of New York Mellon Corp now owns 880,352 shares of the bank’s stock valued at $42,433,000 after acquiring an additional 138,217 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in Ameris Bancorp by 140.9% in the fourth quarter. Deutsche Bank AG now owns 86,911 shares of the bank’s stock valued at $4,187,000 after acquiring an additional 50,832 shares in the last quarter. Institutional investors own 87.72% of the company’s stock.

Several equities analysts have issued reports on ABCB shares. Zacks Investment Research downgraded shares of Ameris Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, March 12th. BidaskClub raised shares of Ameris Bancorp from a “buy” rating to a “strong-buy” rating in a report on Friday, March 9th. ValuEngine cut shares of Ameris Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, April 18th. Finally, SunTrust Banks reduced their target price on shares of Ameris Bancorp from $65.00 to $60.00 and set a “buy” rating for the company in a report on Monday, April 23rd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Ameris Bancorp has a consensus rating of “Buy” and a consensus target price of $55.00.

In other news, Director Robert Dale Ezzell sold 6,800 shares of the company’s stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $56.60, for a total value of $384,880.00. Following the completion of the sale, the director now directly owns 32,772 shares of the company’s stock, valued at $1,854,895.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.07% of the stock is currently owned by corporate insiders.

Shares of NASDAQ:ABCB opened at $56.70 on Friday. Ameris Bancorp has a one year low of $41.05 and a one year high of $59.05. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.02 and a quick ratio of 1.00. The stock has a market capitalization of $2.19 billion, a PE ratio of 22.86 and a beta of 1.20.

Ameris Bancorp (NASDAQ:ABCB) last announced its earnings results on Friday, April 20th. The bank reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.05). Ameris Bancorp had a net margin of 19.19% and a return on equity of 12.09%. The business had revenue of $95.27 million during the quarter, compared to analysts’ expectations of $100.49 million. sell-side analysts predict that Ameris Bancorp will post 3.48 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 10th. Stockholders of record on Friday, June 29th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.71%. Ameris Bancorp’s payout ratio is 16.13%.

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

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