Ameris Bancorp $ABCB Shares Purchased by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its holdings in Ameris Bancorp by 50.6% during Q1, bringing its total shares to 11,942, valued at approximately $687,000.
• Wall Street analysts have set a price target of $81.00 on Ameris Bancorp shares, with a consensus rating of "Moderate Buy".
• Ameris Bancorp recently declared a quarterly dividend of $0.20 per share, resulting in an annual yield of 1.1%.

Ieq Capital LLC increased its holdings in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 50.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,942 shares of the bank's stock after buying an additional 4,013 shares during the period. Ieq Capital LLC's holdings in Ameris Bancorp were worth $687,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ABCB. Stifel Financial Corp lifted its holdings in Ameris Bancorp by 6.5% in the fourth quarter. Stifel Financial Corp now owns 22,487 shares of the bank's stock worth $1,407,000 after buying an additional 1,380 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Ameris Bancorp by 9.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 52,853 shares of the bank's stock valued at $3,308,000 after acquiring an additional 4,592 shares during the period. Northern Trust Corp lifted its stake in shares of Ameris Bancorp by 7.8% during the 4th quarter. Northern Trust Corp now owns 711,481 shares of the bank's stock valued at $44,517,000 after buying an additional 51,178 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Ameris Bancorp by 162.0% during the 4th quarter. AQR Capital Management LLC now owns 105,472 shares of the bank's stock valued at $6,599,000 after buying an additional 65,219 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of Ameris Bancorp by 10.7% during the 4th quarter. Ameriprise Financial Inc. now owns 680,198 shares of the bank's stock valued at $42,563,000 after buying an additional 65,855 shares in the last quarter. Institutional investors own 91.64% of the company's stock.

Analysts Set New Price Targets

Separately, DA Davidson set a $81.00 price objective on shares of Ameris Bancorp and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $72.14.

Ameris Bancorp Stock Down 0.7%

ABCB traded down $0.52 during trading hours on Friday, hitting $73.95. 368,287 shares of the company's stock were exchanged, compared to its average volume of 423,637. Ameris Bancorp has a 12-month low of $48.27 and a 12-month high of $75.46. The firm has a 50 day moving average of $68.90 and a 200 day moving average of $62.54. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The firm has a market cap of $5.07 billion, a P/E ratio of 14.19 and a beta of 0.97.

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.