Wells Fargo & Company MN Decreases Holdings in Ameris Bancorp (ABCB)
Wells Fargo & Company MN decreased its position in Ameris Bancorp (NASDAQ:ABCB) by 12.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 564,548 shares of the bank’s stock after selling 83,925 shares during the quarter. Wells Fargo & Company MN owned approximately 1.52% of Ameris Bancorp worth $27,211,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. LS Investment Advisors LLC raised its holdings in Ameris Bancorp by 126.5% in the first quarter. LS Investment Advisors LLC now owns 2,901 shares of the bank’s stock worth $134,000 after purchasing an additional 1,620 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Ameris Bancorp during the first quarter valued at $136,000. Victory Capital Management Inc. increased its holdings in shares of Ameris Bancorp by 1.6% during the first quarter. Victory Capital Management Inc. now owns 3,506 shares of the bank’s stock valued at $162,000 after acquiring an additional 55 shares in the last quarter. Amalgamated Bank bought a new position in shares of Ameris Bancorp during the first quarter valued at $210,000. Finally, Solaris Asset Management LLC increased its holdings in shares of Ameris Bancorp by 16.1% during the second quarter. Solaris Asset Management LLC now owns 5,112 shares of the bank’s stock valued at $246,000 after acquiring an additional 710 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.
In related news, Director Leo J. Hill acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was purchased at an average cost of $42.75 per share, for a total transaction of $42,750.00. Following the purchase, the director now directly owns 16,629 shares of the company’s stock, valued at approximately $710,889.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.63% of the company’s stock.
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ABCB has been the subject of several analyst reports. BidaskClub upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Keefe, Bruyette & Woods restated a “hold” rating and set a $51.00 price target on shares of Ameris Bancorp in a report on Monday, June 26th. Stephens restated a “buy” rating and set a $54.00 price target on shares of Ameris Bancorp in a report on Friday, July 21st. Zacks Investment Research downgraded Ameris Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 26th. Finally, ValuEngine upgraded Ameris Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $49.33.
Ameris Bancorp (NASDAQ:ABCB) opened at 45.40 on Friday. The company has a market capitalization of $1.69 billion, a P/E ratio of 19.50 and a beta of 1.29. The stock’s 50 day moving average price is $44.07 and its 200 day moving average price is $45.65. Ameris Bancorp has a one year low of $33.80 and a one year high of $51.28.
Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings data on Friday, July 21st. The bank reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). The company had revenue of $91.35 million for the quarter, compared to analysts’ expectations of $92.71 million. Ameris Bancorp had a return on equity of 12.52% and a net margin of 22.66%. Equities analysts anticipate that Ameris Bancorp will post $2.55 EPS for the current fiscal year.
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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