Norges Bank purchased a new stake in Ameris Bancorp (NASDAQ:ABCB – Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 843,858 shares of the bank’s stock, valued at approximately $62,673,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABCB. Invesco Ltd. raised its stake in Ameris Bancorp by 134.7% in the third quarter. Invesco Ltd. now owns 931,911 shares of the bank’s stock valued at $68,318,000 after buying an additional 534,830 shares during the last quarter. Jennison Associates LLC raised its stake in Ameris Bancorp by 31.3% in the fourth quarter. Jennison Associates LLC now owns 1,741,214 shares of the bank’s stock valued at $129,320,000 after buying an additional 414,920 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of Ameris Bancorp by 98,682.6% in the third quarter. Bessemer Group Inc. now owns 351,666 shares of the bank’s stock valued at $25,780,000 after purchasing an additional 351,310 shares during the period. Millennium Management LLC increased its holdings in shares of Ameris Bancorp by 97.2% in the third quarter. Millennium Management LLC now owns 670,312 shares of the bank’s stock valued at $49,141,000 after purchasing an additional 330,427 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of Ameris Bancorp in the first quarter valued at about $10,528,000. 91.60% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the company. Truist Financial increased their price objective on Ameris Bancorp from $85.00 to $89.00 and gave the company a “hold” rating in a report on Monday, April 27th. Raymond James Financial reissued an “outperform” rating and issued a $92.00 price objective on shares of Ameris Bancorp in a report on Monday, April 27th. DA Davidson increased their price objective on Ameris Bancorp from $94.00 to $98.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Finally, Stephens increased their price objective on Ameris Bancorp from $87.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, April 27th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.17.
Ameris Bancorp Stock Up 0.4%
Shares of ABCB stock opened at $85.50 on Friday. The stock’s 50-day simple moving average is $83.23 and its 200-day simple moving average is $79.99. 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 firm has a market capitalization of $5.75 billion, a PE ratio of 16.41 and a beta of 0.91. Ameris Bancorp has a fifty-two week low of $59.54 and a fifty-two week high of $87.99.
Ameris Bancorp (NASDAQ:ABCB – Get Free Report) last posted its earnings results on Thursday, April 23rd. The bank reported $1.63 EPS for the quarter, topping the consensus estimate of $1.54 by $0.09. The firm had revenue of $314.36 million for the quarter, compared to analyst estimates of $309.58 million. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.During the same period last year, the company earned $1.28 earnings per share. Equities analysts expect that Ameris Bancorp will post 4.99 earnings per share for the current year.
Ameris Bancorp Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, April 6th. Investors of record on Tuesday, March 31st were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, March 31st. Ameris Bancorp’s dividend payout ratio (DPR) is 12.58%.
About Ameris Bancorp
Ameris Bancorp is a bank holding company headquartered in Atlanta, Georgia. Through its principal subsidiary, Ameris Bank, the company offers a broad range of commercial and retail banking services to individuals, small businesses, middle market companies and agricultural customers. Its core business lines encompass deposit services, lending solutions, treasury management, mortgage origination and servicing, insurance products and wealth management.
Ameris Bancorp operates a network of branches and loan production offices across the southeastern United States, including Georgia, Alabama, Florida, North Carolina, South Carolina and Tennessee.
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