Strs Ohio Boosts Holdings in Ameris Bancorp $ABCB

Key Points

• Strs Ohio boosted its stake in Ameris Bancorp by 631.4% in Q4, adding 86,500 shares to hold 100,200 shares (0.15% of the company) worth about $7.44 million.
• Ameris Bancorp beat Q1 estimates with $1.63 EPS (vs. $1.54 expected) and $314.36M revenue (vs. $309.58M), and recently paid a $0.20 quarterly dividend (annualized $0.80, yield 0.9%).
• Analysts' consensus is a "Moderate Buy" with an average price target of $90.17, while the stock trades near $85.16 (market cap ≈ $5.8B; P/E 16.35).

Strs Ohio grew its holdings in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 631.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 100,200 shares of the bank's stock after purchasing an additional 86,500 shares during the quarter. Strs Ohio owned 0.15% of Ameris Bancorp worth $7,442,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sound Income Strategies LLC purchased a new position in shares of Ameris Bancorp in the fourth quarter valued at approximately $29,000. Salomon & Ludwin LLC acquired a new stake in shares of Ameris Bancorp in the third quarter valued at $33,000. Covestor Ltd raised its stake in shares of Ameris Bancorp by 51.5% in the third quarter. Covestor Ltd now owns 547 shares of the bank's stock valued at $40,000 after acquiring an additional 186 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in shares of Ameris Bancorp in the third quarter valued at $45,000. Finally, Danske Bank A S acquired a new stake in shares of Ameris Bancorp in the third quarter valued at $51,000. Hedge funds and other institutional investors own 91.60% of the company's stock.

Ameris Bancorp Stock Down 0.5%

ABCB opened at $85.16 on Tuesday. The business's 50-day simple moving average is $79.80 and its 200-day simple moving average is $78.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. Ameris Bancorp has a one year low of $58.91 and a one year high of $87.98. The stock has a market capitalization of $5.81 billion, a P/E ratio of 16.35 and a beta of 0.93.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last posted its earnings results on Thursday, April 23rd. The bank reported $1.63 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.09. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.The business had revenue of $314.36 million for the quarter, compared to analysts' expectations of $309.58 million. During the same quarter in the previous year, the firm earned $1.28 earnings per share. Analysts anticipate that Ameris Bancorp will post 4.99 EPS for the current year.

Ameris Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 6th. Stockholders of record on Tuesday, March 31st were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, March 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. Ameris Bancorp's payout ratio is 12.58%.

Analyst Ratings Changes

Several analysts have recently issued reports on ABCB shares. DA Davidson increased their price objective on Ameris Bancorp from $94.00 to $98.00 and gave the company a "buy" rating in a research note on Tuesday, April 28th. Keefe, Bruyette & Woods increased their price objective on Ameris Bancorp from $82.00 to $88.00 and gave the company an "outperform" rating in a research note on Monday, February 2nd. Truist Financial increased their price objective on Ameris Bancorp from $85.00 to $89.00 and gave the company a "hold" rating in a research note on Monday, April 27th. Stephens increased their price objective on Ameris Bancorp from $87.00 to $90.00 and gave the company an "equal weight" rating in a research note on Monday, April 27th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $92.00 price objective on shares of Ameris Bancorp in a research note on Monday, April 27th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $90.17.

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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