VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Ameris Bancorp (NASDAQ:ABCB - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 23,323 shares of the bank's stock, valued at approximately $1,509,000.
A number of other large investors also recently modified their holdings of ABCB. Nuveen LLC bought a new position in shares of Ameris Bancorp in the 1st quarter valued at $56,202,000. FJ Capital Management LLC lifted its stake in shares of Ameris Bancorp by 311.3% in the 1st quarter. FJ Capital Management LLC now owns 785,288 shares of the bank's stock valued at $45,209,000 after acquiring an additional 594,340 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Ameris Bancorp by 36.2% in the 1st quarter. American Century Companies Inc. now owns 1,875,194 shares of the bank's stock valued at $107,955,000 after acquiring an additional 498,604 shares during the last quarter. Fort Washington Investment Advisors Inc. OH bought a new position in shares of Ameris Bancorp in the 2nd quarter valued at $21,850,000. Finally, Jennison Associates LLC lifted its stake in shares of Ameris Bancorp by 189.7% in the 1st quarter. Jennison Associates LLC now owns 502,690 shares of the bank's stock valued at $28,940,000 after acquiring an additional 329,196 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors.
Ameris Bancorp Stock Performance
Shares of Ameris Bancorp stock opened at $73.07 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average price of $73.21 and a two-hundred day moving average price of $65.87. Ameris Bancorp has a 1-year low of $48.27 and a 1-year high of $76.58. The company has a market cap of $5.01 billion, a P/E ratio of 14.03 and a beta of 0.94.
Ameris Bancorp announced that its Board of Directors has authorized a share buyback program on Monday, October 20th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the bank to purchase up to 4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.
Ameris Bancorp Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, October 6th. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Tuesday, September 30th. Ameris Bancorp's dividend payout ratio (DPR) is presently 14.08%.
Wall Street Analyst Weigh In
Separately, DA Davidson raised Ameris Bancorp to a "strong-buy" rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Ameris Bancorp has a consensus rating of "Buy" and an average target price of $72.14.
Read Our Latest Analysis on Ameris Bancorp
Ameris Bancorp Profile
(
Free Report)
Ameris Bancorp operates as the bank holding company for Ameris Bank that provides range of banking services to retail and commercial customers. It operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division. The company offers commercial and retail checking, regular interest-bearing savings, money market, individual retirement, and certificates of deposit accounts.
Further Reading
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