UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Holdings in Ameris Bancorp $ABCB

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of Ameris Bancorp (NYSE:ABCBFree Report) by 11.5% in the second quarter, Holdings Channel reports. The institutional investor owned 130,798 shares of the bank’s stock after selling 17,048 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Ameris Bancorp were worth $11,806,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Ameris Bancorp in the second quarter valued at $34,000. Measured Wealth Private Client Group LLC acquired a new position in Ameris Bancorp during the 3rd quarter worth $45,000. Danske Bank A S acquired a new position in Ameris Bancorp during the 3rd quarter worth $51,000. Public Employees Retirement System of Ohio bought a new stake in shares of Ameris Bancorp in the 2nd quarter worth about $66,000. Finally, Allworth Financial LP bought a new stake in shares of Ameris Bancorp in the 2nd quarter worth about $67,000. Institutional investors own 91.60% of the company’s stock.

Ameris Bancorp Price Performance

Shares of NYSE:ABCB opened at $86.00 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.34. Ameris Bancorp has a fifty-two week low of $68.80 and a fifty-two week high of $93.22. The firm has a 50-day simple moving average of $88.36 and a 200 day simple moving average of $84.55. The company has a market cap of $5.77 billion, a PE ratio of 15.55 and a beta of 0.91.

Ameris Bancorp (NYSE:ABCBGet Free Report) last issued its earnings results on Thursday, July 23rd. The bank reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.06). Ameris Bancorp had a return on equity of 10.62% and a net margin of 21.98%.The business had revenue of $317.78 million during the quarter, compared to the consensus estimate of $323.78 million. During the same period in the prior year, the business earned $1.59 EPS. On average, sell-side analysts anticipate that Ameris Bancorp will post 6.58 EPS for the current year.

Ameris Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Ameris Bancorp’s dividend payout ratio is presently 14.47%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Morgan Stanley raised shares of Ameris Bancorp to an “overweight” rating in a research report on Wednesday, June 24th. Piper Sandler reduced their target price on Ameris Bancorp from $96.00 to $92.00 and set a “neutral” rating on the stock in a report on Monday, July 27th. Raymond James Financial lowered Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 1st. Stephens set a $88.00 price target on Ameris Bancorp in a report on Monday, July 27th. Finally, Truist Financial dropped their price target on Ameris Bancorp from $92.00 to $90.00 and set a “hold” rating on the stock in a research report on Tuesday, July 28th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.67.

View Our Latest Stock Report on ABCB

Ameris Bancorp Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Ameris Bancorp (NYSE:ABCB)

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