Sequoia Financial Advisors LLC Takes $233,000 Position in Ameris Bancorp (NASDAQ:ABCB)

Sequoia Financial Advisors LLC bought a new position in shares of Ameris Bancorp (NASDAQ:ABCB) in the 3rd quarter, Holdings Channel.com reports. The fund bought 3,733 shares of the bank’s stock, valued at approximately $233,000.

Several other large investors also recently bought and sold shares of ABCB. Jupiter Asset Management Ltd. acquired a new position in shares of Ameris Bancorp during the first quarter worth about $3,869,000. Allspring Global Investments Holdings LLC increased its position in shares of Ameris Bancorp by 75.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 416,557 shares of the bank’s stock valued at $20,153,000 after purchasing an additional 178,500 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Ameris Bancorp in the 1st quarter valued at $1,154,000. Seven Eight Capital LP raised its holdings in shares of Ameris Bancorp by 218.6% in the 1st quarter. Seven Eight Capital LP now owns 22,363 shares of the bank’s stock valued at $1,082,000 after purchasing an additional 15,343 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Ameris Bancorp by 181.3% during the 1st quarter. BNP Paribas Financial Markets now owns 52,029 shares of the bank’s stock worth $2,517,000 after purchasing an additional 33,531 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Ameris Bancorp Price Performance

Shares of NASDAQ ABCB opened at $62.29 on Wednesday. The stock has a market cap of $4.30 billion, a P/E ratio of 15.16 and a beta of 1.01. Ameris Bancorp has a twelve month low of $34.76 and a twelve month high of $66.51. The stock has a 50 day moving average of $61.73 and a two-hundred day moving average of $55.05. 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 (NASDAQ:ABCB) last released its quarterly earnings results on Thursday, October 24th. The bank reported $1.38 EPS for the quarter, beating the consensus estimate of $1.25 by $0.13. Ameris Bancorp had a net margin of 19.28% and a return on equity of 8.97%. The firm had revenue of $424.86 million during the quarter, compared to the consensus estimate of $290.60 million. During the same quarter in the prior year, the firm earned $1.16 EPS. On average, research analysts forecast that Ameris Bancorp will post 4.82 earnings per share for the current year.

Ameris Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Monday, September 30th. Ameris Bancorp’s dividend payout ratio is currently 14.60%.

Analysts Set New Price Targets

Several equities analysts recently commented on ABCB shares. DA Davidson increased their target price on Ameris Bancorp from $61.00 to $76.00 and gave the company a “buy” rating in a report on Monday, July 29th. StockNews.com lowered Ameris Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, October 23rd. Raymond James upgraded Ameris Bancorp from a “market perform” rating to an “outperform” rating and set a $67.00 target price for the company in a research note on Monday. Truist Financial dropped their price target on shares of Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Ameris Bancorp from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $66.67.

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.