UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stake in Ameris Bancorp (NASDAQ:ABCB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 16.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 173,391 shares of the bank's stock after acquiring an additional 25,010 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.25% of Ameris Bancorp worth $10,849,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Picton Mahoney Asset Management boosted its position in shares of Ameris Bancorp by 2,436.8% during the 4th quarter. Picton Mahoney Asset Management now owns 482 shares of the bank's stock worth $30,000 after acquiring an additional 463 shares in the last quarter. R Squared Ltd acquired a new position in shares of Ameris Bancorp during the 4th quarter worth about $51,000. Blue Trust Inc. boosted its position in shares of Ameris Bancorp by 56.1% during the 4th quarter. Blue Trust Inc. now owns 1,113 shares of the bank's stock worth $69,000 after acquiring an additional 400 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Ameris Bancorp by 167.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the bank's stock worth $90,000 after acquiring an additional 896 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in shares of Ameris Bancorp during the 4th quarter worth about $105,000. 91.64% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ameris Bancorp

In other Ameris Bancorp news, insider Douglas D. Strange bought 1,000 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $56.95 per share, with a total value of $56,950.00. Following the purchase, the insider now owns 19,403 shares in the company, valued at approximately $1,105,000.85. This represents a 5.43% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 5.40% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on ABCB shares. Raymond James decreased their target price on Ameris Bancorp from $71.00 to $65.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Piper Sandler started coverage on Ameris Bancorp in a research report on Friday, April 4th. They issued an "overweight" rating and a $74.00 target price for the company. Piper Sandler Companies upped their target price on Ameris Bancorp to $74.00 and gave the company a "buy" rating in a research report on Monday, April 7th. Finally, Stephens reissued an "equal weight" rating and issued a $63.00 target price on shares of Ameris Bancorp in a research report on Tuesday, April 29th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $71.43.

Ameris Bancorp Stock Performance

Ameris Bancorp stock traded down $0.66 during mid-day trading on Wednesday, reaching $60.85. 232,743 shares of the company were exchanged, compared to its average volume of 405,355. Ameris Bancorp has a twelve month low of $45.90 and a twelve month high of $74.56. The firm's 50-day simple moving average is $57.82 and its two-hundred day simple moving average is $61.92. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. The firm has a market cap of $4.19 billion, a PE ratio of 11.68 and a beta of 0.91.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The bank reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.16. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%. The company had revenue of $285.86 million during the quarter, compared to analysts' expectations of $276.06 million. During the same period last year, the firm earned $1.10 EPS. The firm's revenue for the quarter was up 7.0% on a year-over-year basis. Equities analysts predict that Ameris Bancorp will post 4.99 earnings per share for the current fiscal year.

Ameris Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Monday, March 31st were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Monday, March 31st. Ameris Bancorp's dividend payout ratio (DPR) is 14.81%.

Ameris Bancorp Company 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.