Ameris Bancorp $ABCB Shares Bought by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Ameris Bancorp by 49.7% during the 2nd quarter, owning 20,183 shares valued at approximately $1,367,000.
• Ameris Bancorp declared a quarterly dividend of $0.20, with an annualized yield of 1.1%, payable on October 6th.
• DA Davidson set a price target of $81.00 for Ameris Bancorp, which currently has a consensus rating of "Moderate Buy" among analysts.

Wealth Enhancement Advisory Services LLC increased its holdings in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 49.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 20,183 shares of the bank's stock after buying an additional 6,704 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Ameris Bancorp were worth $1,367,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Versant Capital Management Inc boosted its stake in Ameris Bancorp by 84.1% in the first quarter. Versant Capital Management Inc now owns 731 shares of the bank's stock valued at $42,000 after acquiring an additional 334 shares during the period. Optimum Investment Advisors acquired a new position in Ameris Bancorp during the 1st quarter valued at approximately $128,000. State of Wyoming grew its stake in Ameris Bancorp by 8.3% during the 1st quarter. State of Wyoming now owns 2,346 shares of the bank's stock worth $135,000 after buying an additional 179 shares during the last quarter. Meeder Asset Management Inc. grew its stake in Ameris Bancorp by 1,120.2% during the 1st quarter. Meeder Asset Management Inc. now owns 2,904 shares of the bank's stock worth $167,000 after buying an additional 2,666 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new stake in Ameris Bancorp in the second quarter worth $190,000. Institutional investors and hedge funds own 91.64% of the company's stock.

Ameris Bancorp Trading Down 1.4%

Ameris Bancorp stock opened at $73.27 on Wednesday. Ameris Bancorp has a 1 year low of $48.27 and a 1 year high of $76.58. The firm's 50 day moving average price is $71.44 and its two-hundred day moving average price is $64.16. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of 14.06 and a beta of 0.97. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02.

Ameris Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 6th. Investors of record on Tuesday, September 30th will be given a $0.20 dividend. The ex-dividend date is 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 (DPR) is 14.08%.

Wall Street Analysts Forecast Growth

Separately, DA Davidson set a $81.00 price target on shares of Ameris Bancorp and gave the company a "buy" rating in a report on Wednesday, July 30th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock 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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