State of Alaska Department of Revenue Trims Position in Ameris Bancorp (NASDAQ:ABCB)

State of Alaska Department of Revenue lowered its stake in shares of Ameris Bancorp (NASDAQ:ABCB) by 2.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 36,911 shares of the bank’s stock after selling 1,087 shares during the period. State of Alaska Department of Revenue’s holdings in Ameris Bancorp were worth $2,302,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC grew its position in Ameris Bancorp by 2.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 12,503 shares of the bank’s stock valued at $780,000 after buying an additional 258 shares during the last quarter. E. Ohman J or Asset Management AB lifted its stake in shares of Ameris Bancorp by 6.1% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 38,052 shares of the bank’s stock worth $2,374,000 after acquiring an additional 2,200 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in shares of Ameris Bancorp in the third quarter valued at about $233,000. Blue Trust Inc. increased its stake in shares of Ameris Bancorp by 249.5% during the third quarter. Blue Trust Inc. now owns 713 shares of the bank’s stock worth $44,000 after acquiring an additional 509 shares during the period. Finally, CWM LLC raised its holdings in Ameris Bancorp by 105.8% during the third quarter. CWM LLC now owns 2,696 shares of the bank’s stock worth $168,000 after purchasing an additional 1,386 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Ameris Bancorp Stock Up 0.2 %

ABCB opened at $62.10 on Friday. Ameris Bancorp has a one year low of $38.71 and a one year high of $66.51. The company has a market cap of $4.29 billion, a price-to-earnings ratio of 12.94 and a beta of 1.01. The business’s fifty day moving average is $61.89 and its two-hundred day moving average is $55.27. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.03.

Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.13. The firm had revenue of $424.86 million for the quarter, compared to analysts’ expectations of $290.60 million. Ameris Bancorp had a net margin of 20.08% and a return on equity of 9.18%. During the same period in the prior year, the company earned $1.16 EPS. Analysts anticipate that Ameris Bancorp will post 4.86 EPS for the current fiscal year.

Ameris Bancorp Announces Dividend

The firm also recently disclosed 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 of this dividend was Monday, September 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.97%. Ameris Bancorp’s dividend payout ratio (DPR) is 12.50%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ABCB. Stephens boosted their target price on Ameris Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. StockNews.com raised Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Thursday. Keefe, Bruyette & Woods raised their target price on Ameris Bancorp from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Raymond James upgraded shares of Ameris Bancorp from a “market perform” rating to an “outperform” rating and set a $67.00 target price on the stock in a research report on Monday, October 28th. Finally, Truist Financial cut their price target on shares of Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating for the company in a report on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $66.67.

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.