Martin & Co. Inc. TN acquired a new stake in Ameris Bancorp (NASDAQ:ABCB - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 66,186 shares of the bank's stock, valued at approximately $5,974,000. Ameris Bancorp comprises 0.9% of Martin & Co. Inc. TN's holdings, making the stock its 17th biggest position. Martin & Co. Inc. TN owned approximately 0.10% of Ameris Bancorp at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. De Lisle Partners LLP acquired a new position in Ameris Bancorp in the 2nd quarter valued at approximately $3,337,000. William Blair Investment Management LLC bought a new stake in shares of Ameris Bancorp in the second quarter worth $22,909,000. EP Wealth Advisors LLC acquired a new stake in Ameris Bancorp in the second quarter valued at $550,000. Bard Associates Inc. acquired a new stake in Ameris Bancorp in the second quarter valued at $788,000. Finally, Ieq Capital LLC bought a new position in Ameris Bancorp during the 2nd quarter worth $641,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms have commented on ABCB. Raymond James Financial lowered Ameris Bancorp from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 1st. DA Davidson increased their target price on shares of Ameris Bancorp from $98.00 to $100.00 and gave the company a "buy" rating in a research report on Monday, July 27th. Piper Sandler lowered their price target on shares of Ameris Bancorp from $96.00 to $92.00 and set a "neutral" rating for the company in a report on Monday, July 27th. Morgan Stanley upgraded shares of Ameris Bancorp to an "overweight" rating in a research report on Wednesday, June 24th. Finally, Truist Financial decreased their price objective on shares of Ameris Bancorp from $92.00 to $90.00 and set a "hold" rating for the company in a research 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 company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $91.67.
View Our Latest Stock Analysis on Ameris Bancorp
Ameris Bancorp Trading Up 0.0%
Shares of ABCB stock opened at $86.14 on Friday. Ameris Bancorp has a fifty-two week low of $68.80 and a fifty-two 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 stock has a 50 day simple moving average of $88.96 and a two-hundred day simple moving average of $84.45. The company has a market cap of $5.78 billion, a P/E ratio of 16.53 and a beta of 0.92.
Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The bank reported $1.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.66 by ($0.06). The business had revenue of $317.78 million for the quarter, compared to the consensus estimate of $323.78 million. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.During the same quarter in the previous year, the company posted $1.59 earnings per share. Research analysts forecast that Ameris Bancorp will post 4.99 earnings per share for the current year.
Ameris Bancorp Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Tuesday, June 30th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Ameris Bancorp's dividend payout ratio (DPR) is presently 14.47%.
About Ameris Bancorp
(
Free Report)
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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