XTX Topco Ltd Increases Stock Position in Ameris Bancorp (NASDAQ:ABCB)

Key Points

• XTX Topco Ltd has increased its stake in Ameris Bancorp by 137.0%, acquiring an additional 8,739 shares, bringing its total holdings to 15,119 shares valued at approximately $870,000.
• Analysts have varying price targets for Ameris Bancorp, with Piper Sandler setting a target of $74.00 and DA Davidson increasing their target to $81.00, indicating a consensus rating of "Moderate Buy".
• Ameris Bancorp recently declared a quarterly dividend of $0.20, with a yield of 1.2% and a payout ratio of 14.08%.

XTX Topco Ltd increased its position in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 137.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,119 shares of the bank's stock after buying an additional 8,739 shares during the period. XTX Topco Ltd's holdings in Ameris Bancorp were worth $870,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. North Reef Capital Management LP boosted its position in shares of Ameris Bancorp by 8.9% during the 4th quarter. North Reef Capital Management LP now owns 2,533,000 shares of the bank's stock worth $158,490,000 after purchasing an additional 208,000 shares in the last quarter. Congress Asset Management Co. raised its position in shares of Ameris Bancorp by 13.6% during the first quarter. Congress Asset Management Co. now owns 933,493 shares of the bank's stock worth $53,741,000 after purchasing an additional 111,939 shares during the period. Northern Trust Corp lifted its holdings in shares of Ameris Bancorp by 7.8% in the 4th quarter. Northern Trust Corp now owns 711,481 shares of the bank's stock worth $44,517,000 after purchasing an additional 51,178 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Ameris Bancorp by 10.7% during the 4th quarter. Ameriprise Financial Inc. now owns 680,198 shares of the bank's stock valued at $42,563,000 after purchasing an additional 65,855 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in Ameris Bancorp by 189.7% during the first quarter. Jennison Associates LLC now owns 502,690 shares of the bank's stock worth $28,940,000 after buying an additional 329,196 shares during the last quarter. Institutional investors and hedge funds own 91.64% of the company's stock.

Analyst Upgrades and Downgrades

ABCB has been the topic of several recent research reports. Stephens reaffirmed an "equal weight" rating and issued a $63.00 price target on shares of Ameris Bancorp in a research report on Tuesday, April 29th. Raymond James Financial reduced their price objective on shares of Ameris Bancorp from $71.00 to $65.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Finally, DA Davidson set a $81.00 target price on shares of Ameris Bancorp and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $72.14.

Ameris Bancorp Trading Down 1.1%

Shares of Ameris Bancorp stock traded down $0.77 during midday trading on Thursday, reaching $66.05. 385,593 shares of the company's stock traded hands, compared to its average volume of 429,227. The company has a market cap of $4.55 billion, a PE ratio of 12.68 and a beta of 0.96. The stock has a 50 day moving average of $64.78 and a 200-day moving average of $61.77. Ameris Bancorp has a 12 month low of $48.27 and a 12 month high of $74.56. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 7th. Investors of record on Monday, June 30th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.80 annualized dividend and a yield of 1.2%. Ameris Bancorp's payout ratio is presently 14.08%.

Ameris Bancorp 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.