Ameris Bancorp $ABCB Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its position in Ameris Bancorp (NASDAQ:ABCB) by 43.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 47,903 shares of the bank’s stock after selling 36,226 shares during the period. SG Americas Securities LLC’s holdings in Ameris Bancorp were worth $3,736,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sound Income Strategies LLC purchased a new stake in Ameris Bancorp during the fourth quarter worth $29,000. Measured Wealth Private Client Group LLC acquired a new stake in Ameris Bancorp in the third quarter valued at $45,000. Danske Bank A S purchased a new position in shares of Ameris Bancorp in the third quarter valued at $51,000. Aster Capital Management DIFC Ltd increased its position in shares of Ameris Bancorp by 395.4% in the third quarter. Aster Capital Management DIFC Ltd now owns 748 shares of the bank’s stock valued at $55,000 after buying an additional 597 shares in the last quarter. Finally, Torren Management LLC acquired a new position in shares of Ameris Bancorp during the 4th quarter worth $76,000. 91.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on ABCB. Truist Financial boosted their price objective on shares of Ameris Bancorp from $85.00 to $89.00 and gave the stock a “hold” rating in a research report on Monday, April 27th. Piper Sandler restated an “overweight” rating and set a $96.00 target price on shares of Ameris Bancorp in a report on Wednesday, June 24th. Morgan Stanley upgraded shares of Ameris Bancorp to an “overweight” rating in a research report on Wednesday, June 24th. Stephens upped their price target on shares of Ameris Bancorp from $87.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, April 27th. Finally, DA Davidson increased their price target on shares of Ameris Bancorp from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Ameris Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $92.17.

Ameris Bancorp Stock Performance

Ameris Bancorp stock opened at $90.27 on Tuesday. Ameris Bancorp has a fifty-two week low of $64.30 and a fifty-two week high of $91.41. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of 17.33 and a beta of 0.91. The stock has a fifty day moving average of $85.74 and a two-hundred day moving average of $81.50. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02.

Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. The business had revenue of $314.36 million for the quarter, compared to the consensus estimate of $309.58 million. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.During the same period in the prior year, the business earned $1.28 earnings per share. On average, analysts anticipate that Ameris Bancorp will post 4.99 EPS for the current fiscal year.

Ameris Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Tuesday, June 30th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.80 annualized dividend and a yield of 0.9%. Ameris Bancorp’s payout ratio is presently 12.58%.

About Ameris Bancorp

Ameris Bancorp is a bank holding company headquartered in Atlanta, Georgia. Through its principal subsidiary, Ameris Bank, the company offers a broad range of commercial and retail banking services to individuals, small businesses, middle market companies and agricultural customers. Its core business lines encompass deposit services, lending solutions, treasury management, mortgage origination and servicing, insurance products and wealth management.

Ameris Bancorp operates a network of branches and loan production offices across the southeastern United States, including Georgia, Alabama, Florida, North Carolina, South Carolina and Tennessee.