Martin & Co. Inc. TN Makes New $5.97 Million Investment in Ameris Bancorp $ABCB

Martin & Co. Inc. TN purchased a new stake in Ameris Bancorp (NASDAQ:ABCB) in the 2nd quarter, HoldingsChannel reports. The fund purchased 66,186 shares of the bank’s stock, valued at approximately $5,974,000. Ameris Bancorp accounts for 0.9% of Martin & Co. Inc. TN’s portfolio, making the stock its 17th biggest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Ameris Bancorp during the 2nd quarter valued at $34,000. Measured Wealth Private Client Group LLC purchased a new position in Ameris Bancorp during the third quarter worth about $45,000. Danske Bank A S purchased a new position in shares of Ameris Bancorp in the 3rd quarter worth approximately $51,000. Allworth Financial LP bought a new position in Ameris Bancorp in the 2nd quarter valued at $67,000. Finally, Torren Management LLC purchased a new stake in shares of Ameris Bancorp during the 4th quarter worth approximately $76,000. 91.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ABCB shares. Morgan Stanley raised shares of Ameris Bancorp to an “overweight” rating in a report on Wednesday, June 24th. Stephens set a $88.00 target price on Ameris Bancorp in a research report on Monday, July 27th. DA Davidson raised their price target on Ameris Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Truist Financial reduced their price target on Ameris Bancorp from $92.00 to $90.00 and set a “hold” rating for the company in a research report on Tuesday, July 28th. Finally, Raymond James Financial lowered Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 1st. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $91.67.

Ameris Bancorp Stock Up 0.0%

ABCB opened at $86.14 on Friday. The company has a fifty day moving average price of $88.96 and a 200-day moving average price of $84.45. The firm has a market capitalization of $5.78 billion, a P/E ratio of 16.53 and a beta of 0.92. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. Ameris Bancorp has a one year low of $68.80 and a one year high of $93.22.

Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.06). Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.The firm had revenue of $317.78 million during the quarter, compared to the consensus estimate of $323.78 million. During the same period in the previous year, the company posted $1.59 EPS. Equities research analysts expect that Ameris Bancorp will post 4.99 earnings per share for the current fiscal year.

Ameris Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Tuesday, June 30th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Ameris Bancorp’s dividend payout ratio is currently 14.47%.

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.