Deutsche Bank AG acquired a new position in shares of Ameris Bancorp (NASDAQ:ABCB – Free Report) in the 2nd quarter, Holdings Channel reports. The fund acquired 69,043 shares of the bank’s stock, valued at approximately $6,232,000.
A number of other hedge funds have also modified their holdings of ABCB. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Ameris Bancorp in the 2nd quarter valued at about $34,000. Measured Wealth Private Client Group LLC bought a new stake in Ameris Bancorp during the third quarter worth about $45,000. Danske Bank A S bought a new stake in Ameris Bancorp during the third quarter worth about $51,000. Torren Management LLC acquired a new position in Ameris Bancorp during the fourth quarter valued at approximately $76,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in Ameris Bancorp by 316.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,059 shares of the bank’s stock valued at $79,000 after purchasing an additional 805 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the stock. Stephens set a $88.00 target price on shares of Ameris Bancorp in a research note on Monday, July 27th. Piper Sandler cut their price target on shares of Ameris Bancorp from $96.00 to $92.00 and set a “neutral” rating for the company in a research note on Monday, July 27th. Morgan Stanley raised shares of Ameris Bancorp to an “overweight” rating in a research report on Wednesday, June 24th. Truist Financial dropped their target price on shares of Ameris Bancorp from $92.00 to $90.00 and set a “hold” rating on the stock in a report on Tuesday, July 28th. Finally, Raymond James Financial downgraded shares of Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 1st. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Ameris Bancorp presently has a consensus rating of “Hold” and an average price target of $91.67.
Ameris Bancorp Trading Down 0.2%
Shares of Ameris Bancorp stock opened at $86.00 on Tuesday. 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 50-day moving average of $88.93 and a 200-day moving average of $84.50. Ameris Bancorp has a 52-week low of $68.80 and a 52-week high of $93.22. The stock has a market cap of $5.77 billion, a PE ratio of 16.51 and a beta of 0.92.
Ameris Bancorp (NASDAQ:ABCB – Get Free Report) last announced its earnings results on Thursday, July 23rd. The bank reported $1.60 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.06). The business had revenue of $317.78 million for the quarter, compared to the consensus estimate of $323.78 million. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.During the same period in the prior year, the business posted $1.59 earnings per share. As a group, sell-side analysts forecast that Ameris Bancorp will post 4.99 EPS for the current year.
Ameris Bancorp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Tuesday, June 30th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Ameris Bancorp’s dividend payout ratio is currently 14.47%.
Ameris Bancorp Profile
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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