Ameris Bancorp (NASDAQ:ABCB) Shares Purchased by US Bancorp DE

US Bancorp DE lifted its stake in shares of Ameris Bancorp (NASDAQ:ABCB) by 3,396.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,923 shares of the bank’s stock after purchasing an additional 1,868 shares during the period. US Bancorp DE’s holdings in Ameris Bancorp were worth $120,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Jupiter Asset Management Ltd. acquired a new stake in Ameris Bancorp during the first quarter valued at $3,869,000. Seven Eight Capital LP lifted its holdings in shares of 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 buying an additional 15,343 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of Ameris Bancorp during the 1st quarter valued at about $460,000. Victory Capital Management Inc. grew its stake in shares of Ameris Bancorp by 1.6% in the 2nd quarter. Victory Capital Management Inc. now owns 851,240 shares of the bank’s stock valued at $42,860,000 after buying an additional 13,418 shares in the last quarter. Finally, Choreo LLC acquired a new position in Ameris Bancorp in the second quarter worth approximately $1,059,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. DA Davidson increased their price target 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. Stephens increased their target price 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. Keefe, Bruyette & Woods boosted their price target on Ameris Bancorp from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. StockNews.com upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a research note 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 on the stock in a research note on Monday, October 28th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $66.67.

Ameris Bancorp Trading Up 0.0 %

ABCB stock opened at $69.63 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.13. Ameris Bancorp has a twelve month low of $40.71 and a twelve month high of $72.68. The company has a market cap of $4.81 billion, a P/E ratio of 14.51 and a beta of 1.01. The business has a fifty day moving average of $63.41 and a 200-day moving average of $56.79.

Ameris Bancorp (NASDAQ:ABCB) last issued its 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 20.08% and a return on equity of 9.18%. 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 earnings per share. As a group, equities research analysts expect 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. Stockholders of record on Monday, September 30th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, September 30th. This represents a $0.60 annualized dividend and a dividend yield of 0.86%. Ameris Bancorp’s dividend payout ratio is currently 12.50%.

Insider Activity

In other news, Director Robert Dale Ezzell sold 8,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $69.91, for a total value of $559,280.00. Following the sale, the director now directly owns 27,444 shares of the company’s stock, valued at approximately $1,918,610.04. This represents a 22.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.50% of the stock is owned by corporate insiders.

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.