MQS Management LLC bought a new stake in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 8,987 shares of the bank's stock, valued at approximately $517,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Captrust Financial Advisors raised its position in Ameris Bancorp by 4.6% in the 4th quarter. Captrust Financial Advisors now owns 3,975 shares of the bank's stock valued at $249,000 after purchasing an additional 175 shares in the last quarter. Summit Investment Advisors Inc. raised its position in Ameris Bancorp by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,887 shares of the bank's stock valued at $431,000 after purchasing an additional 218 shares in the last quarter. Synovus Financial Corp raised its position in Ameris Bancorp by 1.7% in the 4th quarter. Synovus Financial Corp now owns 14,020 shares of the bank's stock valued at $877,000 after purchasing an additional 235 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Ameris Bancorp by 4.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 5,174 shares of the bank's stock valued at $324,000 after purchasing an additional 238 shares in the last quarter. Finally, KBC Group NV raised its position in Ameris Bancorp by 8.8% in the 1st quarter. KBC Group NV now owns 3,251 shares of the bank's stock valued at $187,000 after purchasing an additional 264 shares in the last quarter. 91.64% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on ABCB. Stephens reaffirmed 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 started coverage on Ameris Bancorp in a research report on Friday, April 4th. They set an "overweight" rating and a $74.00 target price on the stock. Raymond James Financial cut their target price on Ameris Bancorp from $71.00 to $65.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Finally, Piper Sandler Companies raised their target price on Ameris Bancorp to $74.00 and gave the stock a "buy" rating in a research report on Monday, April 7th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $71.43.
Get Our Latest Stock Report on Ameris Bancorp
Ameris Bancorp Stock Performance
ABCB traded up $0.99 during trading on Thursday, hitting $67.44. 286,035 shares of the stock were exchanged, compared to its average volume of 400,000. The firm has a market capitalization of $4.65 billion, a P/E ratio of 12.94 and a beta of 0.93. Ameris Bancorp has a 1-year low of $48.27 and a 1-year high of $74.56. The stock has a fifty day moving average price of $63.45 and a two-hundred day moving average price of $61.28. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11.
Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The bank reported $1.28 EPS for the quarter, topping the consensus estimate of $1.12 by $0.16. The company had revenue of $285.86 million for the quarter, compared to analyst estimates of $276.06 million. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%. The firm's revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 earnings per share. As a group, sell-side analysts predict that Ameris Bancorp will post 4.99 earnings per share for the current year.
Ameris Bancorp Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Monday, June 30th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Monday, June 30th. Ameris Bancorp's dividend payout ratio (DPR) is 14.81%.
Ameris Bancorp Company Profile
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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.
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