UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in shares of Ameris Bancorp (NYSE:ABCB - Free Report) by 11.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 130,798 shares of the bank's stock after selling 17,048 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.19% of Ameris Bancorp worth $11,806,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Ameris Bancorp in the second quarter valued at about $34,000. Measured Wealth Private Client Group LLC purchased a new stake in Ameris Bancorp during the third quarter worth $45,000. Danske Bank A S purchased a new stake in shares of Ameris Bancorp in the third quarter valued at about $51,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Ameris Bancorp during the second quarter valued at $66,000. Finally, Allworth Financial LP acquired a new stake in Ameris Bancorp during the second quarter worth approximately $67,000. 91.60% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages have weighed in on ABCB. Stephens set a $88.00 price target on shares of Ameris Bancorp in a report on Monday, July 27th. Truist Financial lowered their price target on Ameris Bancorp from $92.00 to $90.00 and set a "hold" rating for the company in a report on Tuesday, July 28th. Morgan Stanley raised Ameris Bancorp to an "overweight" rating in a research report on Wednesday, June 24th. DA Davidson boosted their price objective on Ameris Bancorp from $98.00 to $100.00 and gave the stock a "buy" rating in a research note on Monday, July 27th. Finally, Piper Sandler decreased their target price on Ameris Bancorp from $96.00 to $92.00 and set a "neutral" rating for the company in a research report on Monday, July 27th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Ameris Bancorp has an average rating of "Moderate Buy" and an average price target of $91.67.
Get Our Latest Stock Report on ABCB
Ameris Bancorp Trading Down 0.1%
NYSE ABCB opened at $86.00 on Monday. The stock has a market cap of $5.77 billion, a P/E ratio of 15.55 and a beta of 0.91. The company's fifty day simple moving average is $88.36 and its 200-day simple moving average is $84.55. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.34. Ameris Bancorp has a 52 week low of $68.80 and a 52 week high of $93.22.
Ameris Bancorp (NYSE:ABCB - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $1.60 earnings per share for the quarter, missing analysts' consensus estimates of $1.66 by ($0.06). Ameris Bancorp had a net margin of 21.98% and a return on equity of 10.62%. The firm had revenue of $317.78 million for the quarter, compared to analyst estimates of $323.78 million. During the same period in the previous year, the business posted $1.59 earnings per share. Equities research analysts predict that Ameris Bancorp will post 6.58 EPS for the current fiscal year.
Ameris Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Tuesday, June 30th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Ameris Bancorp's dividend payout ratio is presently 14.47%.
Ameris Bancorp Company Profile
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Free Report)
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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