Ameris Bancorp (NASDAQ:ABCB) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund raised its holdings in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 4.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 242,805 shares of the bank's stock after purchasing an additional 10,692 shares during the quarter. New York State Common Retirement Fund owned 0.35% of Ameris Bancorp worth $13,978,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. North Reef Capital Management LP grew its holdings in Ameris Bancorp by 8.9% during the fourth quarter. North Reef Capital Management LP now owns 2,533,000 shares of the bank's stock worth $158,490,000 after acquiring an additional 208,000 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Ameris Bancorp by 30.7% in the fourth quarter. JPMorgan Chase & Co. now owns 952,058 shares of the bank's stock worth $59,570,000 after purchasing an additional 223,805 shares during the last quarter. Congress Asset Management Co. grew its holdings in Ameris Bancorp by 13.6% during the 1st quarter. Congress Asset Management Co. now owns 933,493 shares of the bank's stock worth $53,741,000 after acquiring an additional 111,939 shares during the period. Norges Bank bought a new position in shares of Ameris Bancorp during the 4th quarter worth about $48,380,000. Finally, Northern Trust Corp lifted its position in Ameris Bancorp by 7.8% in the 4th quarter. Northern Trust Corp now owns 711,481 shares of the bank's stock valued at $44,517,000 after acquiring an additional 51,178 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ABCB shares. Piper Sandler began coverage on shares of Ameris Bancorp in a report on Friday, April 4th. They issued an "overweight" rating and a $74.00 target price on the stock. Raymond James Financial decreased their target price on shares of Ameris Bancorp from $71.00 to $65.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Stephens restated an "equal weight" rating and set a $63.00 price objective on shares of Ameris Bancorp in a research report on Tuesday, April 29th. Finally, Piper Sandler Companies lifted their price target on shares of Ameris Bancorp to $74.00 and gave the stock a "buy" rating in a research note on Monday, April 7th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $71.43.

Ameris Bancorp Trading Down 0.1%

NASDAQ:ABCB traded down $0.04 on Friday, reaching $67.34. The company's stock had a trading volume of 226,882 shares, compared to its average volume of 399,294. 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 firm has a market cap of $4.64 billion, a PE ratio of 12.92 and a beta of 0.93. The business's 50-day moving average price is $63.58 and its two-hundred day moving average price is $61.31. Ameris Bancorp has a 1-year low of $48.27 and a 1-year high of $74.56.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The bank reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.16. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%. The business had revenue of $285.86 million for the quarter, compared to the consensus estimate of $276.06 million. During the same period in the prior year, the business earned $1.10 EPS. The firm's revenue for the quarter was up 7.0% on a year-over-year basis. Equities research analysts anticipate that Ameris Bancorp will post 4.99 earnings per share for the current fiscal year.

Ameris Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 7th. Stockholders of record on Monday, June 30th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Monday, June 30th. Ameris Bancorp's dividend payout ratio (DPR) is presently 14.81%.

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.