New York State Common Retirement Fund grew its stake in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 9.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 254,309 shares of the bank's stock after buying an additional 21,090 shares during the quarter. New York State Common Retirement Fund owned 0.37% of Ameris Bancorp worth $15,866,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its position in Ameris Bancorp by 130.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,169 shares of the bank's stock valued at $589,000 after purchasing an additional 6,895 shares during the last quarter. Norden Group LLC purchased a new stake in Ameris Bancorp during the 1st quarter valued at $278,000. BNP Paribas Financial Markets raised its stake in shares of Ameris Bancorp by 181.3% during the first quarter. BNP Paribas Financial Markets now owns 52,029 shares of the bank's stock valued at $2,517,000 after acquiring an additional 33,531 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Ameris Bancorp by 4.2% in the first quarter. Nordea Investment Management AB now owns 87,499 shares of the bank's stock worth $4,258,000 after purchasing an additional 3,560 shares during the last quarter. Finally, Texas Permanent School Fund Corp increased its holdings in Ameris Bancorp by 1.0% during the 1st quarter. Texas Permanent School Fund Corp now owns 56,626 shares of the bank's stock valued at $2,740,000 after purchasing an additional 554 shares during the period. Institutional investors own 91.64% of the company's stock.
Analyst Upgrades and Downgrades
ABCB has been the topic of a number of recent analyst reports. DA Davidson lifted their price objective on Ameris Bancorp from $61.00 to $76.00 and gave the stock a "buy" rating in a research report on Monday, July 29th. Raymond James upgraded shares of Ameris Bancorp from a "market perform" rating to an "outperform" rating and set a $67.00 price objective for the company in a report on Monday, October 28th. Stephens boosted their price target on shares of Ameris Bancorp from $64.00 to $67.00 and gave the company an "equal weight" rating in a research report on Monday, October 28th. Keefe, Bruyette & Woods raised their price objective on shares of Ameris Bancorp from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Monday, July 29th. Finally, Truist Financial lowered their target price on shares of Ameris Bancorp from $73.00 to $68.00 and set a "buy" rating for the company in a report on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $66.67.
Read Our Latest Report on Ameris Bancorp
Ameris Bancorp Price Performance
NASDAQ ABCB traded up $8.57 on Wednesday, reaching $71.14. The company had a trading volume of 1,086,959 shares, compared to its average volume of 362,603. The firm's 50 day moving average price is $61.93 and its 200 day moving average price is $55.65. Ameris Bancorp has a 12 month low of $38.71 and a 12 month high of $71.96. The stock has a market capitalization of $4.91 billion, a PE ratio of 14.82 and a beta of 1.01. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.13.
Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The bank reported $1.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.13. The business had revenue of $424.86 million for the quarter, compared to the consensus estimate of $290.60 million. Ameris Bancorp had a return on equity of 9.18% and a net margin of 20.08%. During the same quarter in the previous year, the company posted $1.16 EPS. As a group, equities analysts predict that Ameris Bancorp will post 4.84 earnings per share for the current year.
Ameris Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.84%. Ameris Bancorp's dividend payout ratio is 12.50%.
Ameris Bancorp Company Profile
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Free Report)
Ameris Bancorp operates as the bank holding company for Ameris Bank that provides range of banking services to retail and commercial customers. It operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division. The company offers commercial and retail checking, regular interest-bearing savings, money market, individual retirement, and certificates of deposit accounts.
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