Deutsche Bank AG Takes $6.23 Million Position in Ameris Bancorp $ABCB

Deutsche Bank AG purchased a new stake in Ameris Bancorp (NASDAQ:ABCB - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 69,043 shares of the bank's stock, valued at approximately $6,232,000. Deutsche Bank AG owned 0.10% of Ameris Bancorp at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Royal Bank of Canada lifted its position in shares of Ameris Bancorp by 9.5% in the 1st quarter. Royal Bank of Canada now owns 29,288 shares of the bank's stock worth $1,687,000 after acquiring an additional 2,546 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Ameris Bancorp by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,181 shares of the bank's stock valued at $2,256,000 after purchasing an additional 1,703 shares during the period. NewEdge Advisors LLC increased its position in shares of Ameris Bancorp by 36.7% during the first quarter. NewEdge Advisors LLC now owns 11,651 shares of the bank's stock valued at $671,000 after purchasing an additional 3,129 shares during the period. United Services Automobile Association acquired a new position in shares of Ameris Bancorp in the first quarter valued at $243,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Ameris Bancorp by 7.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 187,024 shares of the bank's stock valued at $10,767,000 after purchasing an additional 13,633 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on ABCB shares. Morgan Stanley upgraded shares of Ameris Bancorp to an "overweight" rating in a research report on Wednesday, June 24th. DA Davidson increased their price target on shares of Ameris Bancorp from $98.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. Stephens set a $88.00 price target on shares of Ameris Bancorp in a research note on Monday, July 27th. Raymond James Financial cut shares of Ameris Bancorp from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 1st. Finally, Truist Financial decreased their price objective on Ameris Bancorp from $92.00 to $90.00 and set a "hold" rating on the stock in a report on Tuesday, July 28th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $91.67.

Ameris Bancorp Stock Down 0.2%

NASDAQ:ABCB opened at $86.00 on Tuesday. The stock's fifty day moving average price is $88.93 and its two-hundred day moving average price is $84.50. Ameris Bancorp has a 52-week low of $68.80 and a 52-week high of $93.22. 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 company has a market cap of $5.77 billion, a price-to-earnings ratio of 16.51 and a beta of 0.92.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last announced its quarterly earnings data 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 return on equity of 9.57% and a net margin of 21.46%.The firm had revenue of $317.78 million during the quarter, compared to analyst estimates of $323.78 million. During the same quarter in the previous year, the business earned $1.59 earnings per share. On average, analysts anticipate that Ameris Bancorp will post 4.99 EPS for the current year.

Ameris Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Tuesday, June 30th were paid a $0.20 dividend. This represents a $0.80 annualized dividend 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 Profile

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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