8,987 Shares in Ameris Bancorp (NASDAQ:ABCB) Purchased by MQS Management LLC

MQS Management LLC acquired a new position in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,987 shares of the bank's stock, valued at approximately $517,000.

Several other hedge funds have also bought and sold shares of ABCB. Picton Mahoney Asset Management raised its position in shares of Ameris Bancorp by 2,436.8% in the 4th quarter. Picton Mahoney Asset Management now owns 482 shares of the bank's stock worth $30,000 after purchasing an additional 463 shares during the last quarter. Park Square Financial Group LLC purchased a new position in Ameris Bancorp in the fourth quarter worth about $37,000. Versant Capital Management Inc lifted its stake in shares of Ameris Bancorp by 84.1% in the first quarter. Versant Capital Management Inc now owns 731 shares of the bank's stock worth $42,000 after buying an additional 334 shares in the last quarter. Sterling Capital Management LLC lifted its stake in shares of Ameris Bancorp by 836.7% in the fourth quarter. Sterling Capital Management LLC now owns 2,117 shares of the bank's stock worth $132,000 after buying an additional 1,891 shares in the last quarter. Finally, Optimum Investment Advisors purchased a new stake in shares of Ameris Bancorp during the first quarter valued at approximately $128,000. Institutional investors own 91.64% of the company's stock.

Ameris Bancorp Price Performance

Shares of ABCB opened at $67.30 on Monday. The firm has a fifty day simple moving average of $62.89 and a two-hundred day simple moving average of $61.15. The firm has a market cap of $4.64 billion, a PE ratio of 12.92 and a beta of 0.93. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. Ameris Bancorp has a 1-year low of $48.27 and a 1-year high of $74.56.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The bank reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.16. The company had revenue of $285.86 million during the quarter, compared to analysts' expectations of $276.06 million. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%. Ameris Bancorp's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.10 earnings per share. On average, equities analysts anticipate that Ameris Bancorp will post 4.99 EPS for the current year.

Ameris Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 7th. Stockholders of record on Monday, June 30th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend was Monday, June 30th. Ameris Bancorp's dividend payout ratio (DPR) is presently 14.81%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Piper Sandler initiated coverage on Ameris Bancorp in a research report on Friday, April 4th. They issued an "overweight" rating and a $74.00 price objective on the stock. Piper Sandler Companies boosted their price target on Ameris Bancorp to $74.00 and gave the stock a "buy" rating in a research note on Monday, April 7th. Raymond James Financial lowered their price target on Ameris Bancorp from $71.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Finally, Stephens reaffirmed an "equal weight" rating and set a $63.00 price objective on shares of Ameris Bancorp in a research report on Tuesday, April 29th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Ameris Bancorp presently has an average rating of "Moderate Buy" and an average price target of $71.43.

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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