BNP Paribas Arbitrage SA Sells 4,176 Shares of Ameris Bancorp (ABCB)
BNP Paribas Arbitrage SA decreased its position in Ameris Bancorp (NASDAQ:ABCB) by 46.7% during the third quarter, Holdings Channel reports. The institutional investor owned 4,765 shares of the company’s stock after selling 4,176 shares during the period. BNP Paribas Arbitrage SA’s holdings in Ameris Bancorp were worth $167,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the company. PineBridge Investments L.P. boosted its stake in Ameris Bancorp by 3.4% in the second quarter. PineBridge Investments L.P. now owns 3,514 shares of the company’s stock worth $104,000 after buying an additional 116 shares in the last quarter. IFP Advisors Inc boosted its stake in Ameris Bancorp by 1.0% in the second quarter. IFP Advisors Inc now owns 15,674 shares of the company’s stock worth $466,000 after buying an additional 155 shares in the last quarter. Arizona State Retirement System boosted its stake in Ameris Bancorp by 2.1% in the second quarter. Arizona State Retirement System now owns 14,500 shares of the company’s stock worth $431,000 after buying an additional 300 shares in the last quarter. New York State Teachers Retirement System boosted its stake in Ameris Bancorp by 3.5% in the second quarter. New York State Teachers Retirement System now owns 11,900 shares of the company’s stock worth $353,000 after buying an additional 400 shares in the last quarter. Finally, American International Group Inc. boosted its stake in Ameris Bancorp by 1.9% in the second quarter. American International Group Inc. now owns 24,297 shares of the company’s stock worth $722,000 after buying an additional 460 shares in the last quarter. Hedge funds and other institutional investors own 80.12% of the company’s stock.
Shares of Ameris Bancorp (NASDAQ:ABCB) opened at 35.61 on Friday. Ameris Bancorp has a one year low of $24.96 and a one year high of $36.20. The stock’s 50 day moving average price is $34.96 and its 200-day moving average price is $31.91. The stock has a market cap of $1.24 billion, a PE ratio of 19.11 and a beta of 1.33.
Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings data on Friday, July 22nd. The company reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 analysts predict that Ameris Bancorp will post $2.12 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 11th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.12%. This is an increase from Ameris Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Wednesday, September 28th. Ameris Bancorp’s dividend payout ratio is currently 21.62%.
Several analysts have commented on the company. Zacks Investment Research cut Ameris Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, July 27th. Keefe, Bruyette & Woods lifted their price target on Ameris Bancorp from $31.00 to $35.00 and gave the company a “market perform” rating in a report on Monday, July 25th. Finally, Sandler O’Neill cut Ameris Bancorp from a “buy” rating to a “hold” rating and lifted their price target for the company from $36.00 to $38.00 in a report on Tuesday, September 27th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Ameris Bancorp has an average rating of “Hold” and an average price target of $34.30.
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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