Aberdeen Group plc Has $22.56 Million Stake in Ameris Bancorp $ABCB

Key Points

• Aberdeen Group plc trimmed its stake in Ameris Bancorp by 5.3% to 303,728 shares, worth about $22.56 million after selling 17,137 shares in the quarter.
• Institutional ownership stands at 91.6%, with other large investors materially boosting positions (Invesco +134.7% to 931,911 shares; Bessemer and Millennium also added large stakes), signaling strong hedge fund interest.
• Ameris reported Q earnings of $1.59 EPS (slightly above estimates) and announced a quarterly dividend of $0.20 (annualized $0.80, ~1.0% yield); the shares trade with a market cap of ~$5.32 billion and a P/E of 15.04.

Aberdeen Group plc trimmed its position in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 5.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 303,728 shares of the bank's stock after selling 17,137 shares during the period. Aberdeen Group plc owned approximately 0.44% of Ameris Bancorp worth $22,558,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Invesco Ltd. grew its position in Ameris Bancorp by 134.7% in the 3rd quarter. Invesco Ltd. now owns 931,911 shares of the bank's stock worth $68,318,000 after purchasing an additional 534,830 shares during the last quarter. Bessemer Group Inc. boosted its stake in Ameris Bancorp by 98,682.6% during the third quarter. Bessemer Group Inc. now owns 351,666 shares of the bank's stock worth $25,780,000 after buying an additional 351,310 shares in the last quarter. Millennium Management LLC increased its holdings in Ameris Bancorp by 97.2% in the 3rd quarter. Millennium Management LLC now owns 670,312 shares of the bank's stock valued at $49,141,000 after buying an additional 330,427 shares during the period. Jane Street Group LLC acquired a new position in shares of Ameris Bancorp in the 1st quarter valued at $10,528,000. Finally, AQR Capital Management LLC boosted its holdings in Ameris Bancorp by 50.8% during the second quarter. AQR Capital Management LLC now owns 343,115 shares of the bank's stock valued at $22,200,000 after purchasing an additional 115,650 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Ameris Bancorp Price Performance

Ameris Bancorp stock opened at $78.34 on Monday. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $5.32 billion, a P/E ratio of 15.04 and a beta of 0.93. The business has a 50-day moving average of $79.55 and a 200-day moving average of $76.80. Ameris Bancorp has a 1 year low of $48.27 and a 1 year high of $87.98.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The bank reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.03. The business had revenue of $309.92 million for the quarter, compared to analyst estimates of $310.48 million. Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. During the same quarter last year, the firm earned $1.38 EPS. 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 announced a quarterly dividend, which will be paid on Monday, April 6th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.80 annualized dividend and a yield of 1.0%. Ameris Bancorp's payout ratio is currently 13.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Truist Financial increased their price target on Ameris Bancorp from $83.00 to $86.00 and gave the stock a "hold" rating in a research report on Monday, February 2nd. Stephens boosted their price objective on Ameris Bancorp from $79.00 to $87.00 and gave the stock an "equal weight" rating in a research note on Monday, February 2nd. Keefe, Bruyette & Woods increased their target price on Ameris Bancorp from $82.00 to $88.00 and gave the stock an "outperform" rating in a report on Monday, February 2nd. Finally, DA Davidson set a $94.00 target price on shares of Ameris Bancorp in a research note on Monday, February 2nd. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, Ameris Bancorp currently has an average rating of "Moderate Buy" and an average target price of $86.50.

About Ameris Bancorp

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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