Ameris Bancorp (NASDAQ:ABCB) Stock Position Decreased by Inspire Investing LLC

Inspire Investing LLC lowered its holdings in Ameris Bancorp (NASDAQ:ABCB) by 5.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,630 shares of the bank’s stock after selling 392 shares during the period. Inspire Investing LLC’s holdings in Ameris Bancorp were worth $414,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jupiter Asset Management Ltd. bought a new stake in shares of Ameris Bancorp in the 1st quarter worth approximately $3,869,000. Allspring Global Investments Holdings LLC increased its position in Ameris Bancorp by 75.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 416,557 shares of the bank’s stock worth $20,153,000 after buying an additional 178,500 shares during the period. Quantbot Technologies LP bought a new stake in Ameris Bancorp in the first quarter valued at $1,154,000. Congress Asset Management Co. MA lifted its stake in Ameris Bancorp by 5.5% in the first quarter. Congress Asset Management Co. MA now owns 767,156 shares of the bank’s stock valued at $37,115,000 after buying an additional 40,323 shares during the last quarter. Finally, Seven Eight Capital LP boosted its holdings in shares of Ameris Bancorp by 218.6% during the first 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 and hedge funds.

Ameris Bancorp Trading Up 1.1 %

Shares of NASDAQ:ABCB opened at $64.59 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.03 and a current ratio of 1.05. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of 15.72 and a beta of 1.01. The company has a 50 day moving average price of $60.38 and a 200 day moving average price of $53.86. Ameris Bancorp has a 1-year low of $34.26 and a 1-year high of $66.22.

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

Ameris Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were given a $0.15 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.93%. Ameris Bancorp’s dividend payout ratio is currently 14.60%.

Analysts Set New Price Targets

Several brokerages recently weighed in on ABCB. Truist Financial lifted their price objective on shares of 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 raised their price target on shares of Ameris Bancorp from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Stephens boosted their price objective on Ameris Bancorp from $52.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Finally, DA Davidson increased their price target on Ameris Bancorp from $61.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Ameris Bancorp currently has an average rating of “Moderate Buy” and a consensus 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.