Magnetar Financial LLC Makes New $635,000 Investment in Ameris Bancorp $ABCB

Key Points

• Magnetar Financial LLC recently acquired 11,029 shares of Ameris Bancorp, valued at approximately $635,000, indicating growing institutional interest in the bank.
• Ameris Bancorp's stock currently has a target price of $81.00 and a consensus rating of "Moderate Buy" from analysts, reflecting positive market sentiment.
• The company declared a quarterly dividend of $0.20, representing an annualized yield of 1.1%, showcasing its commitment to returning value to shareholders.

Magnetar Financial LLC purchased a new position in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,029 shares of the bank's stock, valued at approximately $635,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new stake in Ameris Bancorp during the fourth quarter worth about $37,000. Versant Capital Management Inc boosted its holdings in Ameris Bancorp by 84.1% during the first quarter. Versant Capital Management Inc now owns 731 shares of the bank's stock worth $42,000 after buying an additional 334 shares in the last quarter. Optimum Investment Advisors purchased a new stake in Ameris Bancorp during the first quarter worth about $128,000. State of Wyoming boosted its holdings in Ameris Bancorp by 8.3% during the first quarter. State of Wyoming now owns 2,346 shares of the bank's stock worth $135,000 after buying an additional 179 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in Ameris Bancorp by 1,120.2% in the first quarter. Meeder Asset Management Inc. now owns 2,904 shares of the bank's stock valued at $167,000 after purchasing an additional 2,666 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company's stock.

Analysts Set New Price Targets

Separately, DA Davidson set a $81.00 target price on Ameris Bancorp and gave the company 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's stock. According to MarketBeat.com, Ameris Bancorp has a consensus rating of "Moderate Buy" and an average target price of $72.14.

Ameris Bancorp Trading Down 0.7%

Shares of ABCB traded down $0.52 on Friday, hitting $73.95. 368,277 shares of the stock traded hands, compared to its average volume of 422,712. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $5.07 billion, a P/E ratio of 14.19 and a beta of 0.97. The stock's 50 day moving average is $68.72 and its two-hundred day moving average is $62.51. Ameris Bancorp has a 1 year low of $48.27 and a 1 year high of $75.46.

About Ameris Bancorp

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.