Ameris Bancorp (NASDAQ:ABCB) Shares Acquired by Deutsche Bank AG

Deutsche Bank AG boosted its stake in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 50.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,738 shares of the bank's stock after buying an additional 18,980 shares during the quarter. Deutsche Bank AG owned approximately 0.08% of Ameris Bancorp worth $3,550,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Picton Mahoney Asset Management lifted its stake in Ameris Bancorp by 2,436.8% in the 4th quarter. Picton Mahoney Asset Management now owns 482 shares of the bank's stock valued at $30,000 after buying an additional 463 shares in the last quarter. R Squared Ltd purchased a new position in Ameris Bancorp in the 4th quarter valued at about $51,000. Blue Trust Inc. lifted its stake in Ameris Bancorp by 56.1% in the 4th quarter. Blue Trust Inc. now owns 1,113 shares of the bank's stock valued at $69,000 after buying an additional 400 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Ameris Bancorp by 167.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the bank's stock valued at $90,000 after buying an additional 896 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in Ameris Bancorp in the 4th quarter valued at about $105,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Piper Sandler Companies increased their price objective on shares of Ameris Bancorp to $74.00 and gave the company a "buy" rating in a report on Monday, April 7th. Piper Sandler assumed coverage on shares of Ameris Bancorp in a report on Friday, April 4th. They issued an "overweight" rating and a $74.00 price objective for the company. Stephens reiterated an "equal weight" rating and issued a $63.00 price objective on shares of Ameris Bancorp in a report on Tuesday, April 29th. Finally, Raymond James cut their price objective on shares of Ameris Bancorp from $71.00 to $65.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Ameris Bancorp has a consensus rating of "Moderate Buy" and an average price target of $71.43.

Ameris Bancorp Trading Down 0.2%

Shares of NASDAQ ABCB traded down $0.12 during midday trading on Monday, reaching $61.19. 370,169 shares of the stock were exchanged, compared to its average volume of 404,720. The company has a 50 day simple moving average of $57.36 and a 200 day simple moving average of $62.23. The stock has a market capitalization of $4.22 billion, a P/E ratio of 11.74 and a beta of 0.91. 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 has a twelve month low of $45.89 and a twelve month high of $74.56.

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

Ameris Bancorp Dividend Announcement

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

Insider Transactions at Ameris Bancorp

In other news, insider Douglas D. Strange purchased 1,000 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average price of $56.95 per share, for a total transaction of $56,950.00. Following the acquisition, the insider now directly owns 19,403 shares of the company's stock, valued at approximately $1,105,000.85. This represents a 5.43% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.40% of the company's stock.

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.