33,695 Shares in Ameris Bancorp $ABCB Purchased by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP purchased 33,695 shares of Ameris Bancorp in the second quarter, valued at approximately $3.04 million. Institutional investors and hedge funds collectively own 91.6% of the company.
• Ameris Bancorp reported quarterly EPS of $1.60, missing the $1.66 consensus estimate, while revenue of $317.78 million also fell short of expectations. Analysts project full-year EPS of $6.58.
• The stock recently traded at $84.62, with analysts maintaining a “Moderate Buy” consensus and an average price target of $91.67. The company also pays a quarterly dividend of $0.20 per share, yielding approximately 0.9%.

Engineers Gate Manager LP purchased a new position in shares of Ameris Bancorp (NYSE:ABCB - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 33,695 shares of the bank's stock, valued at approximately $3,041,000. Engineers Gate Manager LP owned 0.05% of Ameris Bancorp as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Ameris Bancorp in the 2nd quarter valued at approximately $34,000. Measured Wealth Private Client Group LLC bought a new position in shares of Ameris Bancorp during the 3rd quarter worth approximately $45,000. Danske Bank A S bought a new position in shares of Ameris Bancorp during the 3rd quarter worth approximately $51,000. Public Employees Retirement System of Ohio acquired a new stake in Ameris Bancorp in the 2nd quarter valued at $66,000. Finally, Allworth Financial LP acquired a new stake in Ameris Bancorp in the 2nd quarter valued at $67,000. 91.60% of the stock is owned by institutional investors and hedge funds.

Ameris Bancorp Trading Down 0.0%

Shares of ABCB opened at $84.62 on Monday. The stock has a fifty day moving average price of $87.81 and a two-hundred day moving average price of $84.63. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.02 and a current ratio of 1.04. Ameris Bancorp has a 52-week low of $68.80 and a 52-week high of $93.22. The company has a market cap of $5.68 billion, a price-to-earnings ratio of 15.30 and a beta of 0.91.

Ameris Bancorp (NYSE:ABCB - Get Free Report) last announced its earnings results on Thursday, July 23rd. The bank reported $1.60 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.06). Ameris Bancorp had a return on equity of 10.62% and a net margin of 21.98%.The business had revenue of $317.78 million for the quarter, compared to the consensus estimate of $323.78 million. During the same quarter in the previous year, the company posted $1.59 EPS. Analysts predict that Ameris Bancorp will post 6.58 EPS for the current fiscal year.

Ameris Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Tuesday, June 30th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.80 annualized dividend and a yield of 0.9%. Ameris Bancorp's dividend payout ratio is 14.47%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Raymond James Financial lowered Ameris Bancorp from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 1st. DA Davidson boosted their target price on shares of Ameris Bancorp from $98.00 to $100.00 and gave the company a "buy" rating in a research note on Monday, July 27th. Piper Sandler lowered their target price on shares of Ameris Bancorp from $96.00 to $92.00 and set a "neutral" rating on the stock in a report on Monday, July 27th. Stephens set a $88.00 target price on shares of Ameris Bancorp in a research report on Monday, July 27th. Finally, Truist Financial dropped their target price on shares of Ameris Bancorp from $92.00 to $90.00 and set a "hold" rating for the company in a research report on Tuesday, July 28th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $91.67.

Ameris Bancorp Company Profile

Ameris Bancorp is the bank holding company for Ameris Bank, a full-service community bank headquartered in Atlanta, Georgia. Through its banking subsidiary, the company provides financial products and services to individuals, families, businesses and institutions.

Ameris Bank offers deposit accounts, commercial and consumer loans, residential mortgages, home equity financing, treasury management and payment services. The bank also provides wealth management, investment and insurance-related services, along with digital and mobile banking capabilities.

Founded in 1971, Ameris Bank serves communities primarily across the southeastern United States, including Georgia, Alabama, Florida, South Carolina and North Carolina.

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