Victory Capital Management Inc. Increases Stock Position in Ameris Bancorp (NASDAQ:ABCB)

Victory Capital Management Inc. lifted its position in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 50.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 845,390 shares of the bank's stock after acquiring an additional 283,138 shares during the period. Victory Capital Management Inc. owned 1.22% of Ameris Bancorp worth $44,848,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. Prospector Partners LLC acquired a new stake in Ameris Bancorp in the third quarter worth approximately $5,924,000. American Century Companies Inc. grew its stake in Ameris Bancorp by 3.7% during the 3rd quarter. American Century Companies Inc. now owns 2,547,134 shares of the bank's stock valued at $97,784,000 after acquiring an additional 90,694 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in shares of Ameris Bancorp by 81.7% during the third quarter. First Eagle Investment Management LLC now owns 178,961 shares of the bank's stock worth $6,870,000 after purchasing an additional 80,466 shares during the period. Graham Capital Management L.P. acquired a new position in Ameris Bancorp in the 3rd quarter valued at approximately $2,049,000. Finally, Congress Asset Management Co. MA boosted its stake in shares of Ameris Bancorp by 7.1% during the 3rd quarter. Congress Asset Management Co. MA now owns 704,319 shares of the bank's stock valued at $27,039,000 after buying an additional 46,874 shares during the period. 91.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ABCB has been the topic of several research reports. Truist Financial dropped their target price on Ameris Bancorp from $60.00 to $54.00 and set a "buy" rating on the stock in a research report on Monday, April 1st. Stephens reiterated an "equal weight" rating and set a $53.00 price target on shares of Ameris Bancorp in a report on Friday, April 26th. StockNews.com upgraded shares of Ameris Bancorp from a "sell" rating to a "hold" rating in a research report on Monday, April 29th. DA Davidson reiterated a "buy" rating on shares of Ameris Bancorp in a research note on Monday, January 15th. Finally, Piper Sandler lifted their price objective on Ameris Bancorp from $55.00 to $57.00 and gave the company an "overweight" rating in a research report on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.00.

Ameris Bancorp Trading Down 0.1 %

ABCB stock traded down $0.07 during midday trading on Monday, reaching $49.75. The stock had a trading volume of 207,384 shares, compared to its average volume of 378,239. Ameris Bancorp has a twelve month low of $28.39 and a twelve month high of $53.99. The business has a fifty day simple moving average of $46.79 and a two-hundred day simple moving average of $46.63. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.22. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 12.10 and a beta of 1.04.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last issued its quarterly earnings results on Friday, April 26th. The bank reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $1.04 by $0.06. The company had revenue of $267.27 million for the quarter, compared to analyst estimates of $258.05 million. Ameris Bancorp had a return on equity of 8.62% and a net margin of 18.06%. The company's quarterly revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.86 earnings per share. As a group, research analysts expect that Ameris Bancorp will post 4.56 EPS for the current fiscal year.

Ameris Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 8th. Stockholders of record on Sunday, March 31st were given a $0.15 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.21%. Ameris Bancorp's payout ratio is 14.60%.

Insider Activity at Ameris Bancorp

In other Ameris Bancorp news, insider Jon S. Edwards sold 7,500 shares of the company's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $47.35, for a total value of $355,125.00. Following the transaction, the insider now directly owns 59,691 shares of the company's stock, valued at approximately $2,826,368.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 5.50% of the stock is owned by company insiders.

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.