Quantinno Capital Management LP Acquires 20,526 Shares of Ameris Bancorp $ABCB

Key Points

• Quantinno Capital Management increased its Ameris Bancorp stake by 148.5% in the first quarter, purchasing 20,526 additional shares and bringing its holdings to 34,350 shares valued at approximately $2.68 million.
• Institutional investors own 91.6% of Ameris Bancorp, while analysts maintain a consensus “Hold” rating with an average price target of $91.67.
• Ameris Bancorp reported quarterly EPS of $1.60, slightly below the $1.66 consensus estimate, and revenue of $317.78 million versus expectations of $323.78 million. The company paid a quarterly dividend of $0.20, equivalent to a 0.9% yield.

Quantinno Capital Management LP grew its holdings in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 148.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,350 shares of the bank's stock after buying an additional 20,526 shares during the period. Quantinno Capital Management LP owned approximately 0.05% of Ameris Bancorp worth $2,679,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Royal Bank of Canada lifted its holdings in shares of Ameris Bancorp by 9.5% in the 1st quarter. Royal Bank of Canada now owns 29,288 shares of the bank's stock valued at $1,687,000 after acquiring an additional 2,546 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Ameris Bancorp by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,181 shares of the bank's stock worth $2,256,000 after acquiring an additional 1,703 shares during the last quarter. NewEdge Advisors LLC raised its position in Ameris Bancorp by 36.7% during the first quarter. NewEdge Advisors LLC now owns 11,651 shares of the bank's stock valued at $671,000 after purchasing an additional 3,129 shares during the period. United Services Automobile Association bought a new stake in shares of Ameris Bancorp in the 1st quarter valued at approximately $243,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Ameris Bancorp by 7.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 187,024 shares of the bank's stock valued at $10,767,000 after purchasing an additional 13,633 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ABCB shares. Raymond James Financial downgraded Ameris Bancorp from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 1st. Stephens set a $88.00 price target on Ameris Bancorp in a research report on Monday, July 27th. Morgan Stanley raised shares of Ameris Bancorp to an "overweight" rating in a research note on Wednesday, June 24th. DA Davidson lifted their price objective on shares of Ameris Bancorp from $98.00 to $100.00 and gave the stock a "buy" rating in a research note on Monday, July 27th. Finally, Truist Financial cut their price objective on shares of Ameris Bancorp from $92.00 to $90.00 and set a "hold" rating on the stock in a research report on Tuesday, July 28th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, Ameris Bancorp presently has a consensus rating of "Hold" and a consensus price target of $91.67.

Ameris Bancorp Stock Up 0.1%

Shares of NASDAQ:ABCB opened at $87.79 on Monday. Ameris Bancorp has a 1 year low of $65.98 and a 1 year high of $93.22. The business has a 50 day simple moving average of $88.47 and a two-hundred day simple moving average of $83.96. The firm has a market capitalization of $5.91 billion, a PE ratio of 16.85 and a beta of 0.92. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last released its earnings results on Thursday, July 23rd. The bank reported $1.60 EPS for the quarter, missing analysts' consensus estimates of $1.66 by ($0.06). Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. The business had revenue of $317.78 million for the quarter, compared to the consensus estimate of $323.78 million. During the same period in the prior year, the company posted $1.59 EPS. On average, equities analysts predict that Ameris Bancorp will post 4.99 EPS for the current year.

Ameris Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Tuesday, June 30th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Ameris Bancorp's dividend payout ratio is 14.47%.

Ameris Bancorp Profile

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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