Point72 Asset Management L.P. Buys 66,287 Shares of Ameris Bancorp (NASDAQ:ABCB)

Point72 Asset Management L.P. grew its stake in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 135.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,194 shares of the bank's stock after purchasing an additional 66,287 shares during the period. Point72 Asset Management L.P. owned about 0.17% of Ameris Bancorp worth $7,187,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. 1620 Investment Advisors Inc. bought a new stake in shares of Ameris Bancorp during the second quarter valued at approximately $33,000. GAMMA Investing LLC grew its stake in shares of Ameris Bancorp by 66.1% in the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the bank's stock valued at $41,000 after purchasing an additional 326 shares during the period. Blue Trust Inc. raised its holdings in shares of Ameris Bancorp by 249.5% in the 3rd quarter. Blue Trust Inc. now owns 713 shares of the bank's stock worth $44,000 after buying an additional 509 shares in the last quarter. CWM LLC lifted its position in shares of Ameris Bancorp by 33.5% during the 2nd quarter. CWM LLC now owns 1,310 shares of the bank's stock worth $66,000 after buying an additional 329 shares during the period. Finally, US Bancorp DE boosted its stake in Ameris Bancorp by 3,396.4% in the 3rd quarter. US Bancorp DE now owns 1,923 shares of the bank's stock valued at $120,000 after buying an additional 1,868 shares in the last quarter. Institutional investors own 91.64% of the company's stock.

Insider Buying and Selling at Ameris Bancorp

In other Ameris Bancorp news, Director Robert Dale Ezzell sold 8,000 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $69.91, for a total transaction of $559,280.00. Following the transaction, the director now owns 27,444 shares of the company's stock, valued at $1,918,610.04. The trade was a 22.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.50% of the company's stock.

Ameris Bancorp Stock Down 1.7 %

ABCB traded down $1.15 during trading on Monday, reaching $68.24. The company had a trading volume of 102,190 shares, compared to its average volume of 360,943. The company has a market cap of $4.71 billion, a P/E ratio of 14.70 and a beta of 1.03. Ameris Bancorp has a 12 month low of $44.00 and a 12 month high of $74.56. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.03 and a quick ratio of 1.01. The business's fifty day moving average price is $65.90 and its 200 day moving average price is $59.04.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last announced its earnings results on Thursday, October 24th. The bank reported $1.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.13. The firm had revenue of $424.86 million during the quarter, compared to analyst estimates of $290.60 million. Ameris Bancorp had a net margin of 20.08% and a return on equity of 9.18%. During the same period in the prior year, the business earned $1.16 EPS. Equities analysts anticipate that Ameris Bancorp will post 4.83 EPS for the current year.

Ameris Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were paid a $0.15 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.60 annualized dividend and a yield of 0.88%. Ameris Bancorp's payout ratio is currently 12.50%.

Analysts Set New Price Targets

A number of research analysts have issued reports on ABCB shares. Keefe, Bruyette & Woods lifted their price objective on Ameris Bancorp from $70.00 to $80.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Truist Financial dropped their price objective on Ameris Bancorp from $73.00 to $68.00 and set a "buy" rating for the company in a report on Monday, October 28th. Stephens lifted their price target on shares of Ameris Bancorp from $64.00 to $67.00 and gave the stock an "equal weight" rating in a research report on Monday, October 28th. StockNews.com upgraded shares of Ameris Bancorp from a "sell" rating to a "hold" rating in a report on Thursday, October 31st. Finally, Raymond James raised Ameris Bancorp from a "market perform" rating to an "outperform" rating and set a $67.00 price objective for the company in a research note on Monday, October 28th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $69.17.

About Ameris Bancorp

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.