New York State Common Retirement Fund raised its position in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 4.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 242,805 shares of the bank's stock after buying an additional 10,692 shares during the quarter. New York State Common Retirement Fund owned about 0.35% of Ameris Bancorp worth $13,978,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in ABCB. Proficio Capital Partners LLC purchased a new stake in Ameris Bancorp during the fourth quarter worth approximately $1,585,000. Raymond James Financial Inc. bought a new stake in shares of Ameris Bancorp during the 4th quarter worth about $2,016,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Ameris Bancorp by 23.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,977 shares of the bank's stock worth $1,062,000 after buying an additional 3,244 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of Ameris Bancorp in the 4th quarter worth $552,000. Finally, Swiss National Bank increased its position in shares of Ameris Bancorp by 0.6% in the fourth quarter. Swiss National Bank now owns 129,044 shares of the bank's stock valued at $8,074,000 after acquiring an additional 800 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors.
Ameris Bancorp Stock Down 1.0%
Ameris Bancorp stock traded down $0.67 during midday trading on Monday, hitting $66.67. The stock had a trading volume of 251,657 shares, compared to its average volume of 398,703. Ameris Bancorp has a 12 month low of $48.27 and a 12 month high of $74.56. The business has a fifty day moving average price of $63.58 and a 200 day moving average price of $61.31. The stock has a market cap of $4.59 billion, a P/E ratio of 12.80 and a beta of 0.93. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11.
Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The bank reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.16. Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. The business had revenue of $285.86 million during the quarter, compared to the consensus estimate of $276.06 million. During the same quarter last year, the company posted $1.10 earnings per share. The firm's quarterly revenue was up 7.0% compared to the same quarter last year. Research analysts predict that Ameris Bancorp will post 4.99 EPS for the current year.
Ameris Bancorp Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, July 7th. Stockholders of record on Monday, June 30th were paid a $0.20 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.20%. Ameris Bancorp's dividend payout ratio is presently 14.81%.
Analyst Ratings Changes
ABCB has been the topic of a number of research reports. Raymond James Financial reduced their target price on shares of Ameris Bancorp from $71.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Stephens reissued an "equal weight" rating and set a $63.00 price target on shares of Ameris Bancorp in a report on Tuesday, April 29th. Piper Sandler assumed coverage on Ameris Bancorp in a research report on Friday, April 4th. They issued an "overweight" rating and a $74.00 target price for the company. Finally, Piper Sandler Companies boosted their price target on Ameris Bancorp to $74.00 and gave the company a "buy" rating in a research note on Monday, April 7th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $71.43.
Read Our Latest Research Report on Ameris Bancorp
Ameris Bancorp Profile
(
Free Report)
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.
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