Aberdeen Group plc Takes Position in Ameris Bancorp $ABCB

Key Points

• Aberdeen Group plc has acquired a new stake in Ameris Bancorp, purchasing 171,890 shares worth approximately $11.12 million, representing about 0.25% of the company.
• Ameris Bancorp recently declared a quarterly dividend of $0.20, which translates to an annualized dividend of $0.80 and a yield of 1.1%.
• The stock has experienced a 1.7% decline and has a current market capitalization of $5.05 billion, with a consensus rating of "Moderate Buy" from analysts.

Aberdeen Group plc acquired a new stake in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 171,890 shares of the bank's stock, valued at approximately $11,121,000. Aberdeen Group plc owned about 0.25% of Ameris Bancorp at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ABCB. Wealth Enhancement Advisory Services LLC increased its position in Ameris Bancorp by 7.3% in 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 during the last quarter. Foundry Partners LLC increased its position in Ameris Bancorp by 53.5% in 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 during the last quarter. KBC Group NV increased 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 worth $187,000 after purchasing an additional 264 shares during the last quarter. Advisor Resource Council bought a new stake in Ameris Bancorp in the first quarter worth $590,000. Finally, MQS Management LLC bought a new stake in Ameris Bancorp in the first quarter worth $517,000. Institutional investors own 91.64% of the company's stock.

Ameris Bancorp Stock Down 1.7%

NASDAQ ABCB opened at $73.59 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The company has a fifty day moving average of $72.87 and a two-hundred day moving average of $65.29. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of 14.13 and a beta of 0.94. Ameris Bancorp has a 52 week low of $48.27 and a 52 week high of $76.58.

Ameris Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 6th. Stockholders of record on Tuesday, September 30th were issued a $0.20 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. Ameris Bancorp's dividend payout ratio is presently 14.08%.

Wall Street Analyst Weigh In

Separately, DA Davidson set a $81.00 price target on shares of Ameris Bancorp and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $72.14.

Ameris Bancorp 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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