Ameris Bancorp $ABCB Holdings Increased by SG Americas Securities LLC

SG Americas Securities LLC increased its stake in Ameris Bancorp (NASDAQ:ABCB) by 33.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 30,957 shares of the bank’s stock after acquiring an additional 7,728 shares during the period. SG Americas Securities LLC’s holdings in Ameris Bancorp were worth $2,269,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. KLP Kapitalforvaltning AS increased its position in shares of Ameris Bancorp by 7.0% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 13,720 shares of the bank’s stock valued at $890,000 after purchasing an additional 900 shares during the period. Capital Fund Management S.A. bought a new position in Ameris Bancorp during the second quarter valued at about $1,663,000. Harbor Capital Advisors Inc. grew its holdings in Ameris Bancorp by 16,516.1% during the second quarter. Harbor Capital Advisors Inc. now owns 43,368 shares of the bank’s stock worth $2,806,000 after acquiring an additional 43,107 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its holdings in Ameris Bancorp by 16.8% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 394,563 shares of the bank’s stock valued at $28,925,000 after acquiring an additional 56,852 shares during the last quarter. Finally, Congress Asset Management Co. boosted its position in shares of Ameris Bancorp by 2.8% during the 3rd quarter. Congress Asset Management Co. now owns 969,680 shares of the bank’s stock valued at $71,087,000 after purchasing an additional 26,639 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Ameris Bancorp Trading Down 1.5%

NASDAQ ABCB opened at $78.15 on Wednesday. The firm’s 50 day moving average price is $75.71 and its two-hundred day moving average price is $72.67. 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 has a twelve month low of $48.27 and a twelve month high of $80.01. The stock has a market cap of $5.34 billion, a price-to-earnings ratio of 15.00 and a beta of 0.99.

Ameris Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Wednesday, December 31st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Wednesday, December 31st. Ameris Bancorp’s dividend payout ratio is currently 13.84%.

Ameris Bancorp announced that its board has initiated a share repurchase program on Monday, October 20th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the bank to repurchase up to 4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ABCB shares. Keefe, Bruyette & Woods boosted their target price on shares of Ameris Bancorp from $78.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Piper Sandler set a $84.00 price target on Ameris Bancorp in a report on Wednesday, October 29th. DA Davidson initiated coverage on Ameris Bancorp in a research report on Tuesday, November 25th. They set a “buy” rating and a $87.00 price objective for the company. Raymond James Financial restated an “outperform” rating and issued a $80.00 target price (up from $73.00) on shares of Ameris Bancorp in a report on Wednesday, October 29th. Finally, Truist Financial set a $83.00 target price on Ameris Bancorp in a research report on Friday. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Ameris Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.00.

Ameris Bancorp Company Profile

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.