State of New Jersey Common Pension Fund D Cuts Stock Position in Ameris Bancorp (NASDAQ:ABCB)

State of New Jersey Common Pension Fund D lessened its stake in Ameris Bancorp (NASDAQ:ABCBGet Rating) by 5.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 51,470 shares of the bank’s stock after selling 2,982 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.07% of Ameris Bancorp worth $2,259,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ABCB. EverSource Wealth Advisors LLC purchased a new stake in Ameris Bancorp in the 4th quarter worth $29,000. Point72 Hong Kong Ltd boosted its stake in Ameris Bancorp by 273.0% during the 4th quarter. Point72 Hong Kong Ltd now owns 731 shares of the bank’s stock worth $36,000 after purchasing an additional 535 shares during the last quarter. Intrust Bank NA acquired a new stake in Ameris Bancorp during the 4th quarter worth $201,000. Bridgefront Capital LLC acquired a new stake in Ameris Bancorp during the 4th quarter worth $235,000. Finally, Inspire Investing LLC acquired a new stake in Ameris Bancorp during the 1st quarter worth $237,000. Hedge funds and other institutional investors own 88.23% of the company’s stock.

Ameris Bancorp Trading Up 1.7 %

Shares of ABCB opened at $47.26 on Thursday. The firm’s fifty day moving average is $42.75 and its two-hundred day moving average is $44.80. The company has a quick ratio of 1.00, a current ratio of 1.03 and a debt-to-equity ratio of 0.18. The stock has a market cap of $3.28 billion, a PE ratio of 9.80 and a beta of 1.19. Ameris Bancorp has a 52-week low of $38.22 and a 52-week high of $56.63.

Ameris Bancorp (NASDAQ:ABCBGet Rating) last announced its quarterly earnings results on Tuesday, July 26th. The bank reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.11. Ameris Bancorp had a net margin of 31.45% and a return on equity of 10.78%. During the same quarter in the previous year, the business posted $1.25 EPS. Research analysts forecast that Ameris Bancorp will post 5.02 earnings per share for the current fiscal year.

Ameris Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 8th. Stockholders of record on Thursday, June 30th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $0.60 annualized dividend and a dividend yield of 1.27%. Ameris Bancorp’s payout ratio is 12.45%.

Analyst Upgrades and Downgrades

Separately, Raymond James lowered their target price on shares of Ameris Bancorp from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Thursday, July 7th.

Ameris Bancorp Company Profile

(Get Rating)

Ameris Bancorp operates as the bank holding company for Ameris Bank that provides range of banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, North Carolina, and South Carolina. The company operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division.

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

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