Counterpoint Mutual Funds LLC Takes Position in Ameris Bancorp $ABCB

Key Points

• Counterpoint Mutual Funds LLC has acquired a new stake in Ameris Bancorp, purchasing 5,338 shares valued at approximately $345,000 in the second quarter.
• The bank recently declared a quarterly dividend of $0.20 per share, with an ex-dividend date of September 30th, resulting in a 1.1% yield.
• Wall Street analysts are optimistic about Ameris Bancorp, with a $81.00 price target and a majority rating of "Buy" from research analysts.

Counterpoint Mutual Funds LLC purchased a new stake in Ameris Bancorp (NASDAQ:ABCB - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 5,338 shares of the bank's stock, valued at approximately $345,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Ameris Bancorp by 52.5% during the second quarter. GAMMA Investing LLC now owns 1,777 shares of the bank's stock worth $115,000 after purchasing an additional 612 shares during the last quarter. Sowell Financial Services LLC acquired a new position in Ameris Bancorp during the second quarter worth $209,000. Farther Finance Advisors LLC raised its holdings in Ameris Bancorp by 73.2% during the second quarter. Farther Finance Advisors LLC now owns 492 shares of the bank's stock worth $32,000 after purchasing an additional 208 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Ameris Bancorp by 49.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 20,183 shares of the bank's stock worth $1,367,000 after purchasing an additional 6,704 shares during the last quarter. Finally, Pallas Capital Advisors LLC acquired a new position in Ameris Bancorp during the second quarter worth $245,000. 91.64% of the stock is owned by institutional investors and hedge funds.

Ameris Bancorp Stock Performance

Ameris Bancorp stock opened at $74.82 on Thursday. 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 stock has a fifty day moving average of $70.87 and a two-hundred day moving average of $63.62. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of 14.36 and a beta of 0.97. Ameris Bancorp has a fifty-two week low of $48.27 and a fifty-two week high of $76.58.

Ameris Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 6th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.80 annualized dividend and a yield of 1.1%. Ameris Bancorp's dividend payout ratio (DPR) is presently 14.08%.

Wall Street Analysts Forecast Growth

Separately, DA Davidson set a $81.00 price objective on Ameris Bancorp and gave the stock a "buy" rating in a report on Wednesday, July 30th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Ameris Bancorp has an average 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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