3,216 Shares in Ameris Bancorp $ABCB Purchased by Jacksonville Wealth Management LLC

Jacksonville Wealth Management LLC purchased a new stake in Ameris Bancorp (NASDAQ:ABCB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,216 shares of the bank’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABCB. Police & Firemen s Retirement System of New Jersey lifted its holdings in shares of Ameris Bancorp by 6.0% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 14,862 shares of the bank’s stock valued at $962,000 after purchasing an additional 843 shares in the last quarter. Geode Capital Management LLC raised its position in Ameris Bancorp by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,573,486 shares of the bank’s stock valued at $101,815,000 after buying an additional 11,909 shares during the last quarter. Vise Technologies Inc. bought a new position in Ameris Bancorp during the 2nd quarter valued at $357,000. Allworth Financial LP lifted its stake in Ameris Bancorp by 1,567.6% during the 2nd quarter. Allworth Financial LP now owns 567 shares of the bank’s stock valued at $37,000 after acquiring an additional 533 shares in the last quarter. Finally, CSM Advisors LLC purchased a new position in Ameris Bancorp during the 2nd quarter worth $5,740,000. 91.60% of the stock is owned by institutional investors.

Ameris Bancorp Trading Down 2.0%

Shares of ABCB stock opened at $72.46 on Friday. The company has a 50 day moving average of $73.57 and a 200-day moving average of $68.18. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. Ameris Bancorp has a 12-month low of $48.27 and a 12-month high of $76.58. The firm has a market cap of $4.97 billion, a P/E ratio of 13.91 and a beta of 1.04.

Ameris Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 6th. Shareholders of record on Tuesday, September 30th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, September 30th. Ameris Bancorp’s dividend payout ratio (DPR) is currently 13.84%.

Ameris Bancorp declared that its Board of Directors has approved a share repurchase plan on Monday, October 20th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the bank to reacquire up to 4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have recently commented on ABCB shares. DA Davidson upgraded shares of Ameris Bancorp to a “strong-buy” rating in a report on Monday, October 20th. Keefe, Bruyette & Woods upped their price objective on shares of Ameris Bancorp from $78.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Raymond James Financial reissued an “outperform” rating and set a $80.00 target price (up previously from $73.00) on shares of Ameris Bancorp in a research report on Wednesday, October 29th. Finally, Piper Sandler set a $84.00 target price on Ameris Bancorp in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ameris Bancorp presently has an average rating of “Buy” and a consensus price target of $77.33.

About Ameris Bancorp

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.