33,523 Shares in Ameris Bancorp $ABCB Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Ameris Bancorp (NYSE:ABCBFree Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 33,523 shares of the bank’s stock, valued at approximately $3,026,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Commerce Bank purchased a new stake in shares of Ameris Bancorp during the 2nd quarter worth approximately $607,000. BIP Wealth LLC acquired a new stake in shares of Ameris Bancorp during the second quarter worth about $1,025,000. Renaissance Technologies LLC grew its stake in shares of Ameris Bancorp by 129.9% in the 1st quarter. Renaissance Technologies LLC now owns 44,069 shares of the bank’s stock valued at $3,437,000 after purchasing an additional 24,900 shares during the last quarter. William Blair Investment Management LLC purchased a new position in shares of Ameris Bancorp in the 2nd quarter valued at approximately $22,909,000. Finally, Norges Bank acquired a new position in shares of Ameris Bancorp in the fourth quarter valued at approximately $62,673,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Ameris Bancorp Stock Up 0.7%

ABCB opened at $84.61 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.04 and a quick ratio of 1.02. Ameris Bancorp has a 12 month low of $68.80 and a 12 month high of $93.22. The stock has a market capitalization of $5.68 billion, a P/E ratio of 15.30 and a beta of 0.91. The business has a 50 day simple moving average of $87.91 and a 200-day simple moving average of $84.60.

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

Ameris Bancorp Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Morgan Stanley raised Ameris Bancorp to an “overweight” rating in a report on Wednesday, June 24th. Raymond James Financial cut shares of Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 1st. DA Davidson upped their price objective on shares of Ameris Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Truist Financial reduced their target price on shares of Ameris Bancorp from $92.00 to $90.00 and set a “hold” rating for the company in a research note on Tuesday, July 28th. Finally, Stephens set a $88.00 target price on shares of Ameris Bancorp in a report on Monday, July 27th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.67.

Read Our Latest Stock Analysis on ABCB

About Ameris Bancorp

(Free Report)

Ameris Bancorp is the bank holding company for Ameris Bank, a full-service community bank headquartered in Atlanta, Georgia. Through its banking subsidiary, the company provides financial products and services to individuals, families, businesses and institutions.

Ameris Bank offers deposit accounts, commercial and consumer loans, residential mortgages, home equity financing, treasury management and payment services. The bank also provides wealth management, investment and insurance-related services, along with digital and mobile banking capabilities.

Founded in 1971, Ameris Bank serves communities primarily across the southeastern United States, including Georgia, Alabama, Florida, South Carolina and North Carolina.

Further Reading

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

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