Ameris Bancorp (NASDAQ:ABCB) Shares Purchased by LS Investment Advisors LLC

LS Investment Advisors LLC raised its stake in Ameris Bancorp (NASDAQ:ABCB) by 42.0% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,703 shares of the bank’s stock after buying an additional 504 shares during the quarter. LS Investment Advisors LLC’s holdings in Ameris Bancorp were worth $69,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Quest Capital Management Inc. ADV bought a new stake in Ameris Bancorp in the third quarter valued at $25,000. Truewealth LLC lifted its stake in Ameris Bancorp by 678.8% in the third quarter. Truewealth LLC now owns 1,176 shares of the bank’s stock valued at $47,000 after buying an additional 1,025 shares during the last quarter. Versant Capital Management Inc lifted its stake in Ameris Bancorp by 33.8% in the third quarter. Versant Capital Management Inc now owns 1,184 shares of the bank’s stock valued at $47,000 after buying an additional 299 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Ameris Bancorp by 68.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,621 shares of the bank’s stock valued at $64,000 after buying an additional 658 shares during the last quarter. Finally, AdvisorNet Financial Inc lifted its stake in Ameris Bancorp by 256.0% in the second quarter. AdvisorNet Financial Inc now owns 1,780 shares of the bank’s stock valued at $70,000 after buying an additional 1,280 shares during the last quarter. Institutional investors own 63.57% of the company’s stock.

A number of equities research analysts recently weighed in on the stock. BidaskClub cut shares of Ameris Bancorp from a “strong-buy” rating to a “buy” rating in a research note on Thursday. SunTrust Banks cut their price objective on shares of Ameris Bancorp from $47.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. ValuEngine upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Friday. Piper Jaffray Companies set a $53.00 price objective on shares of Ameris Bancorp and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Zacks Investment Research upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $46.60.

Shares of ABCB opened at $44.44 on Friday. The business’s 50-day moving average price is $41.31 and its 200 day moving average price is $38.19. Ameris Bancorp has a 1-year low of $29.97 and a 1-year high of $45.25. The company has a current ratio of 1.06, a quick ratio of 0.97 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $3.06 billion, a P/E ratio of 13.15 and a beta of 1.50.

Ameris Bancorp (NASDAQ:ABCB) last posted its earnings results on Friday, October 18th. The bank reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.03. Ameris Bancorp had a return on equity of 11.71% and a net margin of 19.46%. The firm had revenue of $225.80 million during the quarter, compared to analyst estimates of $213.84 million. During the same period in the previous year, the company earned $0.91 EPS. The company’s revenue for the quarter was up 74.8% on a year-over-year basis. On average, research analysts predict that Ameris Bancorp will post 3.81 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 30th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.35%. Ameris Bancorp’s dividend payout ratio (DPR) is presently 17.75%.

About Ameris Bancorp

Ameris Bancorp operates as the bank 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, SBA Division, and Premium Finance Division.

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

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