The Manufacturers Life Insurance Company Has $26.06 Million Position in Ameris Bancorp $ABCB

Key Points

• The Manufacturers Life Insurance Company increased its stake in Ameris Bancorp by 1.6%, now holding 452,717 shares valued at approximately $26.06 million.
• Analysts have set a new price target of $81.00 for Ameris Bancorp, with a consensus rating of "Moderate Buy."
• Ameris Bancorp recently announced a quarterly dividend of $0.20, yielding 1.1%, with a dividend payout ratio of 14.08%.

The Manufacturers Life Insurance Company lifted its stake in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 1.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 452,717 shares of the bank's stock after acquiring an additional 7,049 shares during the quarter. The Manufacturers Life Insurance Company owned 0.66% of Ameris Bancorp worth $26,063,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ABCB. Park Square Financial Group LLC acquired a new stake in Ameris Bancorp during the 4th quarter worth $37,000. Versant Capital Management Inc increased its stake in Ameris Bancorp by 84.1% in the 1st quarter. Versant Capital Management Inc now owns 731 shares of the bank's stock valued at $42,000 after purchasing an additional 334 shares in the last quarter. Optimum Investment Advisors purchased a new stake in Ameris Bancorp in the 1st quarter valued at approximately $128,000. State of Wyoming raised its position in shares of Ameris Bancorp by 8.3% in the first quarter. State of Wyoming now owns 2,346 shares of the bank's stock valued at $135,000 after buying an additional 179 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its stake in shares of Ameris Bancorp by 1,120.2% during the 1st quarter. Meeder Asset Management Inc. now owns 2,904 shares of the bank's stock valued at $167,000 after acquiring an additional 2,666 shares during the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, DA Davidson set a $81.00 price target on Ameris Bancorp and gave the stock a "buy" rating in a report on Wednesday, July 30th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $72.14.

Ameris Bancorp Stock Down 0.7%

Shares of ABCB traded down $0.52 during mid-day trading on Friday, reaching $73.95. The company's stock had a trading volume of 368,287 shares, compared to its average volume of 423,637. The business has a fifty day moving average of $68.72 and a 200 day moving average of $62.51. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. Ameris Bancorp has a 1 year low of $48.27 and a 1 year high of $75.46. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 14.19 and a beta of 0.97.

Ameris Bancorp Company Profile

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.