4,200 Shares in Ameris Bancorp (NASDAQ:ABCB) Bought by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH purchased 4,200 shares of Ameris Bancorp in the first quarter, valued at approximately $242,000.
• Ameris Bancorp recently announced a quarterly dividend of $0.20 per share, which provides an annualized dividend yield of 1.2%.
• Brokerage analysts show a consensus rating of "Moderate Buy" for Ameris Bancorp, with a consensus price target of $72.14.

Allianz Asset Management GmbH bought a new position in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,200 shares of the bank's stock, valued at approximately $242,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of Ameris Bancorp by 7.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,479 shares of the bank's stock worth $776,000 after purchasing an additional 922 shares in the last quarter. Foundry Partners LLC grew its stake in shares of Ameris Bancorp by 53.5% during the first quarter. Foundry Partners LLC now owns 110,911 shares of the bank's stock worth $6,385,000 after purchasing an additional 38,650 shares in the last quarter. KBC Group NV lifted its position in Ameris Bancorp by 8.8% in the first quarter. KBC Group NV now owns 3,251 shares of the bank's stock valued at $187,000 after acquiring an additional 264 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Ameris Bancorp in the fourth quarter valued at $1,195,000. Finally, Advisor Resource Council purchased a new stake in Ameris Bancorp in the first quarter valued at $590,000. Institutional investors and hedge funds own 91.64% of the company's stock.

Ameris Bancorp Price Performance

Shares of NASDAQ:ABCB opened at $65.91 on Monday. The company has a 50-day simple moving average of $64.48 and a 200-day simple moving average of $61.69. Ameris Bancorp has a one year low of $48.27 and a one year high of $74.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. The stock has a market capitalization of $4.54 billion, a price-to-earnings ratio of 12.65 and a beta of 0.96.

Ameris Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 7th. Stockholders of record on Monday, June 30th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, June 30th. Ameris Bancorp's dividend payout ratio is presently 14.08%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ABCB. Stephens reissued an "equal weight" rating and issued a $63.00 price target on shares of Ameris Bancorp in a research report on Tuesday, April 29th. Piper Sandler Companies boosted their price target on shares of Ameris Bancorp to $74.00 and gave the company a "buy" rating in a research report on Monday, April 7th. DA Davidson boosted their price target on shares of Ameris Bancorp from $78.00 to $81.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Finally, Raymond James Financial reduced their price target on shares of Ameris Bancorp from $71.00 to $65.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $72.14.

Ameris Bancorp Company Profile

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.

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