Ameris Bancorp $ABCB Shares Acquired by Synovus Financial Corp

Key Points

• Synovus Financial Corp increased its stake in Ameris Bancorp by 28.7% during the first quarter, bringing its total ownership to 18,049 shares valued at approximately $1,039,000.
• Ameris Bancorp recently announced a quarterly dividend of $0.20, reflecting an annualized yield of 1.1%, and its dividend payout ratio stands at 14.08%.
• Following analyst reports, DA Davidson set a target price of $81.00 for Ameris Bancorp, while Raymond James lowered its target to $65.00, highlighting differing views on the stock's performance.

Synovus Financial Corp increased its stake in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 28.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,049 shares of the bank's stock after buying an additional 4,029 shares during the quarter. Synovus Financial Corp's holdings in Ameris Bancorp were worth $1,039,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABCB. Raymond James Financial Inc. purchased a new position in Ameris Bancorp in the fourth quarter valued at about $2,016,000. First Trust Advisors LP boosted its holdings in Ameris Bancorp by 1.4% in the fourth quarter. First Trust Advisors LP now owns 79,486 shares of the bank's stock valued at $4,973,000 after purchasing an additional 1,071 shares during the last quarter. Stifel Financial Corp boosted its holdings in Ameris Bancorp by 6.5% in the fourth quarter. Stifel Financial Corp now owns 22,487 shares of the bank's stock valued at $1,407,000 after purchasing an additional 1,380 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in Ameris Bancorp by 164.5% in the fourth quarter. Hsbc Holdings PLC now owns 26,783 shares of the bank's stock valued at $1,671,000 after purchasing an additional 16,657 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Ameris Bancorp by 9.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 52,853 shares of the bank's stock valued at $3,308,000 after purchasing an additional 4,592 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company's stock.

Ameris Bancorp Trading Up 1.2%

NASDAQ:ABCB opened at $73.88 on Thursday. The company has a market cap of $5.07 billion, a PE ratio of 14.18 and a beta of 0.96. Ameris Bancorp has a 52 week low of $48.27 and a 52 week high of $74.56. 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 business's 50 day moving average is $67.41 and its two-hundred day moving average is $62.24.

Ameris Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Monday, June 30th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.80 annualized dividend and a yield of 1.1%. Ameris Bancorp's dividend payout ratio (DPR) is currently 14.08%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ABCB shares. DA Davidson set a $81.00 price target on Ameris Bancorp and gave the company a "buy" rating in a report on Wednesday, July 30th. Raymond James Financial reduced their target price on Ameris Bancorp from $71.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Ameris Bancorp has an average rating of "Moderate Buy" and an average target price 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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