Ameris Bancorp (NASDAQ:ABCB) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its stake in Ameris Bancorp (NASDAQ:ABCB) by 7.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,388 shares of the bank’s stock after acquiring an additional 9,762 shares during the quarter. Public Sector Pension Investment Board’s holdings in Ameris Bancorp were worth $7,169,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ABCB. 1620 Investment Advisors Inc. acquired a new position in Ameris Bancorp in the 2nd quarter valued at about $33,000. GAMMA Investing LLC grew its holdings in shares of Ameris Bancorp by 66.1% during the second quarter. GAMMA Investing LLC now owns 819 shares of the bank’s stock worth $41,000 after buying an additional 326 shares in the last quarter. CWM LLC grew its holdings in shares of Ameris Bancorp by 33.5% during the second quarter. CWM LLC now owns 1,310 shares of the bank’s stock worth $66,000 after buying an additional 329 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Ameris Bancorp in the second quarter valued at approximately $143,000. Finally, SG Americas Securities LLC purchased a new position in shares of Ameris Bancorp during the first quarter valued at approximately $190,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

Ameris Bancorp Trading Down 2.2 %

ABCB stock opened at $62.34 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 0.30. The company has a market cap of $4.31 billion, a price-to-earnings ratio of 15.17 and a beta of 1.02. The business has a fifty day simple moving average of $59.70 and a 200-day simple moving average of $52.32. Ameris Bancorp has a 52 week low of $34.26 and a 52 week high of $65.40.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $1.17 EPS for the quarter, topping the consensus estimate of $1.14 by $0.03. Ameris Bancorp had a return on equity of 8.97% and a net margin of 19.28%. The company had revenue of $436.03 million during the quarter, compared to analyst estimates of $273.67 million. During the same period in the prior year, the firm posted $0.91 earnings per share. On average, equities research analysts expect that Ameris Bancorp will post 4.82 EPS for the current year.

Ameris Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 30th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Monday, September 30th. Ameris Bancorp’s payout ratio is currently 14.60%.

Wall Street Analyst Weigh In

Several analysts have commented on ABCB shares. DA Davidson lifted their target price on shares of Ameris Bancorp from $61.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Truist Financial lifted their price objective on Ameris Bancorp from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Keefe, Bruyette & Woods increased their target price on Ameris Bancorp from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Finally, Stephens lifted their price target on Ameris Bancorp from $52.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Ameris Bancorp presently has an average rating of “Moderate Buy” and an average target price of $67.00.

Ameris Bancorp Company 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.