6,114 Shares in Ameris Bancorp (NASDAQ:ABCB) Acquired by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV bought a new position in Ameris Bancorp (NASDAQ:ABCB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,114 shares of the bank’s stock, valued at approximately $308,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Jupiter Asset Management Ltd. purchased a new stake in shares of Ameris Bancorp in the 1st quarter valued at $3,869,000. Allspring Global Investments Holdings LLC grew its stake in shares of Ameris Bancorp by 75.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 416,557 shares of the bank’s stock valued at $20,153,000 after buying an additional 178,500 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Ameris Bancorp in the first quarter worth about $1,154,000. Congress Asset Management Co. MA lifted its stake in shares of Ameris Bancorp by 5.5% in the 1st quarter. Congress Asset Management Co. MA now owns 767,156 shares of the bank’s stock valued at $37,115,000 after acquiring an additional 40,323 shares during the last quarter. Finally, Seven Eight Capital LP boosted its holdings in Ameris Bancorp by 218.6% during the 1st quarter. Seven Eight Capital LP now owns 22,363 shares of the bank’s stock valued at $1,082,000 after acquiring an additional 15,343 shares during the period. 91.64% of the stock is currently owned by institutional investors.

Ameris Bancorp Stock Down 0.2 %

Shares of Ameris Bancorp stock opened at $61.32 on Monday. The company has a current ratio of 1.05, a quick ratio of 1.03 and a debt-to-equity ratio of 0.30. Ameris Bancorp has a 12-month low of $34.26 and a 12-month high of $65.40. The company has a market cap of $4.24 billion, a P/E ratio of 14.92 and a beta of 1.02. The company’s fifty day simple moving average is $59.85 and its two-hundred day simple moving average is $52.63.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.03. The company had revenue of $436.03 million for the quarter, compared to analysts’ expectations of $273.67 million. Ameris Bancorp had a net margin of 19.28% and a return on equity of 8.97%. During the same quarter in the previous year, the company earned $0.91 earnings per share. Research analysts anticipate that Ameris Bancorp will post 4.82 EPS for the current year.

Ameris Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 30th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Monday, September 30th. Ameris Bancorp’s payout ratio is presently 14.60%.

Analysts Set New Price Targets

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

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.