Verition Fund Management LLC purchased a new stake in Ameris Bancorp (NASDAQ:ABCB – Free Report) during the 4th quarter, Holdings Channel.com reports. The fund purchased 187,261 shares of the bank’s stock, valued at approximately $13,908,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC acquired a new position in Ameris Bancorp in the 4th quarter valued at about $29,000. Measured Wealth Private Client Group LLC purchased a new stake in Ameris Bancorp in the 3rd quarter valued at approximately $45,000. Danske Bank A S purchased a new stake in Ameris Bancorp in the 3rd quarter valued at approximately $51,000. Aster Capital Management DIFC Ltd boosted its holdings in Ameris Bancorp by 395.4% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 748 shares of the bank’s stock valued at $55,000 after purchasing an additional 597 shares in the last quarter. Finally, Torren Management LLC purchased a new stake in Ameris Bancorp in the 4th quarter valued at approximately $76,000. Institutional investors and hedge funds own 91.60% of the company’s stock.
Ameris Bancorp Price Performance
Shares of NASDAQ:ABCB opened at $87.49 on Tuesday. The business’s 50 day simple moving average is $84.36 and its 200-day simple moving average is $80.63. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of 16.79 and a beta of 0.91. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. Ameris Bancorp has a 12 month low of $59.54 and a 12 month high of $90.00.
Ameris Bancorp Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, April 6th. Investors of record on Tuesday, March 31st were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. Ameris Bancorp’s dividend payout ratio is presently 12.58%.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on ABCB. DA Davidson lifted 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. Raymond James Financial reaffirmed an “outperform” rating and issued a $92.00 price objective on shares of Ameris Bancorp in a report on Monday, April 27th. Stephens lifted 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. Finally, Truist Financial lifted 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. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $90.17.
View Our Latest Stock Report on ABCB
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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