Hsbc Holdings PLC Acquires 16,657 Shares of Ameris Bancorp (NASDAQ:ABCB)

Hsbc Holdings PLC boosted its holdings in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 164.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,783 shares of the bank's stock after purchasing an additional 16,657 shares during the period. Hsbc Holdings PLC's holdings in Ameris Bancorp were worth $1,671,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Barclays PLC increased its holdings in shares of Ameris Bancorp by 107.7% in the third quarter. Barclays PLC now owns 140,001 shares of the bank's stock valued at $8,735,000 after purchasing an additional 72,599 shares in the last quarter. Principal Financial Group Inc. boosted its position in Ameris Bancorp by 4.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,263,487 shares of the bank's stock valued at $78,829,000 after buying an additional 55,473 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Ameris Bancorp by 9.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 728,253 shares of the bank's stock valued at $45,436,000 after buying an additional 60,448 shares during the period. GAMMA Investing LLC raised its position in shares of Ameris Bancorp by 17.9% during the fourth quarter. GAMMA Investing LLC now owns 1,332 shares of the bank's stock worth $83,000 after acquiring an additional 202 shares during the last quarter. Finally, Moody National Bank Trust Division lifted its stake in shares of Ameris Bancorp by 9.3% during the fourth quarter. Moody National Bank Trust Division now owns 14,611 shares of the bank's stock valued at $914,000 after acquiring an additional 1,248 shares during the period. Institutional investors own 91.64% of the company's stock.

Ameris Bancorp Trading Up 0.6 %

ABCB stock traded up $0.37 during midday trading on Wednesday, hitting $60.02. 22,571 shares of the company's stock were exchanged, compared to its average volume of 395,617. Ameris Bancorp has a one year low of $45.89 and a one year 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. The company has a market cap of $4.14 billion, a PE ratio of 11.53 and a beta of 0.91. The stock's fifty day moving average price is $56.49 and its 200-day moving average price is $62.42.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The bank reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.16. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%. The business had revenue of $285.86 million for the quarter, compared to analysts' expectations of $276.06 million. During the same quarter in the previous year, the business posted $1.10 EPS. Ameris Bancorp's revenue for the quarter was up 7.0% on a year-over-year basis. Research analysts predict that Ameris Bancorp will post 4.99 earnings per share for the current fiscal year.

Ameris Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Monday, March 31st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend was Monday, March 31st. Ameris Bancorp's dividend payout ratio is 14.81%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Piper Sandler started coverage on Ameris Bancorp in a research report on Friday, April 4th. They issued an "overweight" rating and a $74.00 price objective for the company. Raymond James cut their price target on Ameris Bancorp from $71.00 to $65.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Piper Sandler Companies lifted their price objective on Ameris Bancorp to $74.00 and gave the stock a "buy" rating in a research note on Monday, April 7th. Finally, Stephens reissued an "equal weight" rating and issued a $63.00 target price on shares of Ameris Bancorp in a research note on Tuesday, April 29th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $71.43.

Insider Transactions at Ameris Bancorp

In related news, insider Douglas D. Strange bought 1,000 shares of Ameris Bancorp stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average cost of $56.95 per share, with a total value of $56,950.00. Following the purchase, the insider now owns 19,403 shares in the company, valued at approximately $1,105,000.85. This trade represents a 5.43 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.50% of the stock is owned by insiders.

About Ameris Bancorp

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.