9,769,532 Shares in Ameris Bancorp $ABCB Bought by BlackRock Inc.

Key Points

• BlackRock acquired 9.77 million Ameris Bancorp shares worth approximately $881.8 million, giving it a 14.52% stake. Institutional investors collectively own 91.60% of the bank.
• Ameris Bancorp reported quarterly EPS of $1.60, below the $1.66 analyst consensus, while revenue of $317.78 million also missed estimates. Analysts expect full-year EPS of approximately $4.99.
• The stock opened at $86.14, with analysts holding a consensus “Hold” rating and an average price target of $91.67. The company pays a quarterly dividend of $0.20 per share, yielding about 0.9% annually.

BlackRock Inc. acquired a new stake in Ameris Bancorp (NASDAQ:ABCB - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 9,769,532 shares of the bank's stock, valued at approximately $881,798,000. BlackRock Inc. owned approximately 14.52% of Ameris Bancorp as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Royal Bank of Canada grew its holdings in shares of Ameris Bancorp by 9.5% during the 1st quarter. Royal Bank of Canada now owns 29,288 shares of the bank's stock valued at $1,687,000 after purchasing an additional 2,546 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Ameris Bancorp by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,181 shares of the bank's stock valued at $2,256,000 after purchasing an additional 1,703 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Ameris Bancorp by 36.7% in the 1st quarter. NewEdge Advisors LLC now owns 11,651 shares of the bank's stock valued at $671,000 after purchasing an additional 3,129 shares during the last quarter. United Services Automobile Association acquired a new stake in Ameris Bancorp in the first quarter valued at approximately $243,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Ameris Bancorp by 7.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 187,024 shares of the bank's stock valued at $10,767,000 after buying an additional 13,633 shares in the last quarter. Institutional investors own 91.60% of the company's stock.

Ameris Bancorp Stock Up 0.0%

Ameris Bancorp stock opened at $86.14 on Friday. The firm has a market cap of $5.78 billion, a price-to-earnings ratio of 16.53 and a beta of 0.92. Ameris Bancorp has a 52-week low of $68.80 and a 52-week high of $93.22. 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 firm has a 50 day moving average price of $88.96 and a two-hundred day moving average price of $84.45.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $1.60 EPS for the quarter, missing analysts' consensus estimates of $1.66 by ($0.06). Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. The firm had revenue of $317.78 million during the quarter, compared to the consensus estimate of $323.78 million. During the same period in the prior year, the company posted $1.59 earnings per share. Equities analysts predict that Ameris Bancorp will post 4.99 EPS for the current year.

Ameris Bancorp Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on ABCB shares. DA Davidson raised their price objective on Ameris Bancorp from $98.00 to $100.00 and gave the company a "buy" rating in a report on Monday, July 27th. Truist Financial lowered their target price on Ameris Bancorp from $92.00 to $90.00 and set a "hold" rating for the company in a report on Tuesday, July 28th. Raymond James Financial downgraded Ameris Bancorp from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 1st. Piper Sandler cut their price target on Ameris Bancorp from $96.00 to $92.00 and set a "neutral" rating on the stock in a research note on Monday, July 27th. Finally, Morgan Stanley upgraded Ameris Bancorp to an "overweight" rating in a report on Wednesday, June 24th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $91.67.

Ameris Bancorp Profile

Ameris Bancorp is a bank holding company headquartered in Atlanta, Georgia. Through its principal subsidiary, Ameris Bank, the company offers a broad range of commercial and retail banking services to individuals, small businesses, middle market companies and agricultural customers. Its core business lines encompass deposit services, lending solutions, treasury management, mortgage origination and servicing, insurance products and wealth management.

Ameris Bancorp operates a network of branches and loan production offices across the southeastern United States, including Georgia, Alabama, Florida, North Carolina, South Carolina and Tennessee.

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