Corient Private Wealth LP Invests $2.66 Million in Ameris Bancorp $ABCB

Corient Private Wealth LP purchased a new stake in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 29,505 shares of the bank's stock, valued at approximately $2,663,000.

Other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Ameris Bancorp during the 2nd quarter worth approximately $34,000. Measured Wealth Private Client Group LLC bought a new stake in Ameris Bancorp in the third quarter worth $45,000. Danske Bank A S purchased a new stake in Ameris Bancorp during the third quarter valued at $51,000. Allworth Financial LP bought a new position in Ameris Bancorp during the second quarter valued at $67,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in Ameris Bancorp by 316.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,059 shares of the bank's stock valued at $79,000 after purchasing an additional 805 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ABCB shares. DA Davidson boosted their target price on shares of Ameris Bancorp from $98.00 to $100.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Piper Sandler dropped their price target 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. Truist Financial reduced their price objective on Ameris Bancorp from $92.00 to $90.00 and set a "hold" rating on the stock in a research note on Tuesday, July 28th. Raymond James Financial downgraded Ameris Bancorp from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 1st. Finally, Stephens set a $88.00 price objective on Ameris Bancorp in a research note on Monday, July 27th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $91.67.

Ameris Bancorp Stock Down 1.1%

Shares of NASDAQ ABCB opened at $83.32 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. The company has a market cap of $5.59 billion, a P/E ratio of 15.99 and a beta of 0.92. Ameris Bancorp has a 1 year low of $68.80 and a 1 year high of $93.22. The firm has a 50-day simple moving average of $88.63 and a two-hundred day simple moving average of $84.51.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last released its earnings results on Thursday, July 23rd. The bank reported $1.60 EPS for the quarter, missing analysts' consensus estimates of $1.66 by ($0.06). Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. The business had revenue of $317.78 million for the quarter, compared to the consensus estimate of $323.78 million. During the same period in the prior year, the company posted $1.59 EPS. Research analysts anticipate that Ameris Bancorp will post 4.99 earnings per share for the current year.

Ameris Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Tuesday, June 30th were issued a $0.20 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. Ameris Bancorp's dividend payout ratio is presently 14.47%.

About Ameris Bancorp

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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