Envestnet Portfolio Solutions Inc., an institutional investor, has made investments in both Ameris Bancorp and The Boston Beer Company, Inc. In the third quarter, Envestnet purchased 5,813 shares of Ameris Bancorp (NASDAQ:ABCB) valued at approximately $223,000 [f5192493]. This investment comes as other institutional investors have also recently adjusted their stakes in the company. Ameris Bancorp is a bank holding company that operates Ameris Bank, providing banking services primarily in Georgia, Alabama, Florida, North Carolina, and South Carolina. The company recently announced a quarterly dividend of $0.15 per share, with a dividend payout ratio of 15.38%. Ameris Bancorp has a market cap of $3.16 billion, a P/E ratio of 11.74, and a beta of 1.04. The stock has an average rating of 'Hold' and an average price target of $49.00. The bank reported $1.07 EPS for the quarter, missing analysts' consensus estimates of $1.12 by ($0.05). The firm had revenue of $262.35 million for the quarter, compared to analyst estimates of $267.23 million. Ameris Bancorp is expected to post 4.46 EPS for the current year.
In addition to Ameris Bancorp, Envestnet Portfolio Solutions Inc. also purchased 576 shares of The Boston Beer Company, Inc. (NYSE:SAM) in the third quarter, valued at approximately $224,000 [1f630998]. Other institutional investors, including Southeastern Asset Management Inc. TN, Loomis Sayles & Co. L P, Millennium Management LLC, Wellington Management Group LLP, and Federated Hermes Inc., also made changes to their positions in SAM. The stock is currently owned by institutional investors and hedge funds. The Boston Beer Company, Inc. has a market cap of $3.71 billion, a P/E ratio of 49.11, and a beta of 1.02. The company reported ($1.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($1.27). The firm had revenue of $393.72 million for the quarter, compared to the consensus estimate of $413.57 million. Boston Beer's revenue for the quarter was down 12.0% on a year-over-year basis. Analysts anticipate that The Boston Beer Company, Inc. will post 10.59 earnings per share for the current fiscal year. The stock has an average rating of 'Hold' and an average target price of $343.58. Insider Carolyn L. O'boyle sold 102 shares of the company's stock. The Boston Beer Company, Inc. engages in the production and sale of alcohol beverages primarily in the United States.
Diane B. Medley, a director at German American Bancorp, Inc., purchased 1,000 shares of the company's common stock on March 14, 2024, at a price of $33.64 per share, totaling $33,640 [b940ac1e]. This purchase demonstrates a positive sentiment towards the stock and increases Medley's direct holdings in the company. German American Bancorp is a state commercial bank headquartered in Jasper, Indiana. The company has not reported any sales of stock by insiders on the reported date. Investors often monitor insider transactions as they provide insights into how executives and directors view the stock's value and future prospects. German American Bancorp's stock continues to be observed by investors who value the financial decisions and movements of the company's insiders.
American Homes 4 Rent director Douglas N. Benham has recently increased his stake in the company through a series of share purchases. On May 7th, he acquired 4,081 Series G Perpetual Preferred Shares at a weighted average price of $22.801, and 4,000 Series H Perpetual Preferred Shares at an average of $23.845. On May 8th, he purchased an additional 1,500 Series G shares at a weighted average price of $22.384, and 2,000 Series H shares at $23.47 each. The total expenditure for these preferred share acquisitions amounted to approximately $268,946. Benham's purchases demonstrate his confidence in the company's value and prospects. American Homes 4 Rent is a leader in the acquisition, renovation, leasing, and operation of single-family homes as rental properties. The company's headquarters is in Las Vegas, Nevada.
The state pension fund ended March with a record high balance of $104.2 billion, up 3.7% for the quarter and 11.4% for the 12-month period [cb64acd8].
Shares in Boston Beer Company (NYSE: SAM) slipped by more than 11% in premarket U.S. trading on Monday after Jim Beam-owner Suntory rebuffed reports that it was in talks to acquire the Sam Adams maker. Boston Beer's stock price had surged last week following a report in the Wall Street Journal that it was in negotiations with Japan's Suntory over a potential takeover. However, a spokesperson for Suntory has told Bloomberg News that it was not in talks with Boston Beer [8a6f586c].
Chobani yogurt founder and billionaire Hamdi Ulukaya has purchased Anchor Brewing Co., the craft beer pioneer, for an undisclosed amount. Anchor Brewing Co., known for its Anchor Steam and Christmas Ale beers, closed last year due to declining sales and increased competition. Ulukaya expressed excitement to be part of the company's rebirth in San Francisco [cb64acd8].