AlphaMark Advisors LLC Trims Stock Position in Ameris Bancorp (NASDAQ:ABCB)

AlphaMark Advisors LLC trimmed its holdings in Ameris Bancorp (NASDAQ:ABCB) by 10.2% in the 1st quarter, HoldingsChannel reports. The fund owned 5,740 shares of the bank’s stock after selling 654 shares during the quarter. AlphaMark Advisors LLC’s holdings in Ameris Bancorp were worth $278,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Congress Wealth Management LLC DE grew its holdings in shares of Ameris Bancorp by 19.5% during the 1st quarter. Congress Wealth Management LLC DE now owns 109,772 shares of the bank’s stock worth $5,311,000 after purchasing an additional 17,916 shares during the period. 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 buying an additional 6,895 shares during the last quarter. Congress Asset Management Co. MA boosted its stake in Ameris Bancorp by 5.5% during the first quarter. Congress Asset Management Co. MA now owns 767,156 shares of the bank’s stock worth $37,115,000 after buying an additional 40,323 shares during the period. Moody National Bank Trust Division acquired a new stake in shares of Ameris Bancorp during the first quarter valued at about $480,000. Finally, Vanguard Group Inc. raised its stake in shares of Ameris Bancorp by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 7,467,880 shares of the bank’s stock valued at $396,171,000 after acquiring an additional 33,386 shares during the period. Institutional investors and hedge funds own 91.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ABCB. Truist Financial lowered their price objective on shares of Ameris Bancorp from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, April 1st. StockNews.com upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. Stephens reaffirmed an “equal weight” rating and issued a $53.00 price objective on shares of Ameris Bancorp in a research note on Friday, April 26th. Finally, Piper Sandler increased their target price on Ameris Bancorp from $55.00 to $57.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.00.

Ameris Bancorp Price Performance

Ameris Bancorp stock opened at $50.33 on Tuesday. The company’s 50 day moving average is $48.54 and its two-hundred day moving average is $48.58. The firm has a market cap of $3.48 billion, a PE ratio of 12.25 and a beta of 1.04. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.22. Ameris Bancorp has a 52-week low of $33.21 and a 52-week high of $53.99.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings data on Friday, April 26th. The bank reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.06. Ameris Bancorp had a return on equity of 8.62% and a net margin of 18.06%. The business had revenue of $267.27 million for the quarter, compared to analysts’ expectations of $258.05 million. During the same period last year, the firm earned $0.86 earnings per share. The company’s revenue for the quarter was down .2% compared to the same quarter last year. On average, research analysts expect that Ameris Bancorp will post 4.59 EPS for the current fiscal year.

Ameris Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Sunday, June 30th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Friday, June 28th. Ameris Bancorp’s dividend payout ratio is presently 14.60%.

Ameris Bancorp Profile

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.