XTX Topco Ltd Acquires 8,739 Shares of 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 lifted its stake in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 137.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,119 shares of the bank's stock after purchasing 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.

A number of other large investors also recently modified their holdings of the stock. Meeder Asset Management Inc. lifted its holdings in Ameris Bancorp by 1,120.2% in the first quarter. Meeder Asset Management Inc. now owns 2,904 shares of the bank's stock valued at $167,000 after buying an additional 2,666 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Ameris Bancorp by 7.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,289 shares of the bank's stock valued at $1,053,000 after buying an additional 1,312 shares during the period. HB Wealth Management LLC lifted its holdings in Ameris Bancorp by 5.7% in the first quarter. HB Wealth Management LLC now owns 5,941 shares of the bank's stock valued at $342,000 after buying an additional 319 shares during the period. Cetera Investment Advisers increased its stake in Ameris Bancorp by 17.8% in the first quarter. Cetera Investment Advisers now owns 4,018 shares of the bank's stock valued at $231,000 after purchasing an additional 608 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Ameris Bancorp in the first quarter valued at approximately $4,219,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ABCB has been the subject of several recent analyst reports. DA Davidson set a $81.00 target price on shares of Ameris Bancorp and gave the company a "buy" rating in a research note on Wednesday, July 30th. Stephens reaffirmed an "equal weight" rating and issued a $63.00 target price on shares of Ameris Bancorp in a research note on Tuesday, April 29th. Finally, Raymond James Financial lowered 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. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $72.14.

Ameris Bancorp Stock Up 1.7%

Shares of ABCB stock traded up $1.11 during trading hours on Friday, hitting $67.13. 263,788 shares of the company were exchanged, compared to its average volume of 428,074. The business has a 50 day moving average of $64.86 and a two-hundred day moving average of $61.78. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. Ameris Bancorp has a 52 week low of $48.27 and a 52 week high of $74.56. The company has a market capitalization of $4.63 billion, a PE ratio of 12.90 and a beta of 0.96.

Ameris Bancorp Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.80 annualized dividend and a dividend yield of 1.2%. Ameris Bancorp's dividend payout ratio is currently 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.