11,029 Shares in Ameris Bancorp $ABCB Purchased by Magnetar Financial LLC

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 bought a new position in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 11,029 shares of the bank's stock, valued at approximately $635,000.

A number of other institutional investors have also added to or reduced their stakes in ABCB. Park Square Financial Group LLC acquired a new position in Ameris Bancorp during the fourth quarter worth $37,000. Versant Capital Management Inc increased its holdings in shares of Ameris Bancorp by 84.1% in the first quarter. Versant Capital Management Inc now owns 731 shares of the bank's stock valued at $42,000 after purchasing an additional 334 shares during the last quarter. Optimum Investment Advisors acquired a new position in shares of Ameris Bancorp in the first quarter valued at $128,000. State of Wyoming increased its holdings in shares of Ameris Bancorp by 8.3% in the first quarter. State of Wyoming now owns 2,346 shares of the bank's stock valued at $135,000 after purchasing an additional 179 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its holdings in shares of 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. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Ameris Bancorp Stock Performance

Shares of Ameris Bancorp stock traded down $0.52 during trading on Friday, reaching $73.95. The company's stock had a trading volume of 368,287 shares, compared to its average volume of 423,637. The business's 50-day moving average price is $68.90 and its 200-day moving average price is $62.54. The firm has a market cap of $5.07 billion, a PE ratio of 14.19 and a beta of 0.97. Ameris Bancorp has a 52 week low of $48.27 and a 52 week high of $75.46. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11.

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.