Algert Global LLC Has $1.36 Million Stock Holdings in Ameris Bancorp (NASDAQ:ABCB)

Algert Global LLC decreased its position in Ameris Bancorp (NASDAQ:ABCB) by 18.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 27,073 shares of the bank’s stock after selling 6,077 shares during the period. Algert Global LLC’s holdings in Ameris Bancorp were worth $1,363,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. 1620 Investment Advisors Inc. acquired a new position in shares of Ameris Bancorp in the second quarter valued at $33,000. GAMMA Investing LLC raised its stake in shares of Ameris Bancorp by 66.1% in the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the bank’s stock valued at $41,000 after buying an additional 326 shares in the last quarter. CWM LLC lifted its holdings in shares of Ameris Bancorp by 33.5% during the 2nd quarter. CWM LLC now owns 1,310 shares of the bank’s stock worth $66,000 after acquiring an additional 329 shares during the period. Innealta Capital LLC acquired a new position in Ameris Bancorp in the second quarter worth about $143,000. Finally, Trexquant Investment LP bought a new position in Ameris Bancorp during the fourth quarter worth about $205,000. Institutional investors own 91.64% of the company’s stock.

Analysts Set New Price Targets

ABCB has been the topic of several recent analyst reports. Truist Financial boosted their price target on Ameris Bancorp from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, September 20th. 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. Stephens raised their target price on shares of Ameris Bancorp from $52.00 to $64.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Finally, DA Davidson increased their target price on Ameris Bancorp from $61.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Ameris Bancorp Stock Performance

Shares of ABCB opened at $60.72 on Friday. The firm has a market cap of $4.20 billion, a P/E ratio of 14.62 and a beta of 1.02. Ameris Bancorp has a twelve month low of $34.26 and a twelve month high of $65.40. The firm’s 50 day moving average price is $59.89 and its two-hundred day moving average price is $52.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.03 and a current ratio of 1.05.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.03. The business had revenue of $436.03 million for the quarter, compared to analyst estimates 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 firm posted $0.91 earnings per share. On average, analysts forecast that Ameris Bancorp will post 4.82 EPS for the current fiscal year.

Ameris Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 30th will be given a dividend of $0.15 per share. The ex-dividend date is Monday, September 30th. This represents a $0.60 annualized dividend and a yield of 0.99%. Ameris Bancorp’s dividend payout ratio (DPR) is presently 14.60%.

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.