Fox Run Management L.L.C. Invests $1.18 Million in Ameris Bancorp $ABCB

Fox Run Management L.L.C. acquired a new stake in shares of Ameris Bancorp (NASDAQ:ABCB) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 16,081 shares of the bank’s stock, valued at approximately $1,179,000.

Other hedge funds have also made changes to their positions in the company. True Wealth Design LLC increased its stake in Ameris Bancorp by 2,311.8% during the second quarter. True Wealth Design LLC now owns 410 shares of the bank’s stock valued at $27,000 after acquiring an additional 393 shares during the period. Salomon & Ludwin LLC acquired a new stake in shares of Ameris Bancorp during the 3rd quarter worth approximately $33,000. Allworth Financial LP grew its holdings in shares of Ameris Bancorp by 1,567.6% during the 2nd quarter. Allworth Financial LP now owns 567 shares of the bank’s stock worth $37,000 after purchasing an additional 533 shares in the last quarter. Covestor Ltd increased its position in shares of Ameris Bancorp by 51.5% during the third quarter. Covestor Ltd now owns 547 shares of the bank’s stock valued at $40,000 after purchasing an additional 186 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in shares of Ameris Bancorp by 48.8% in the third quarter. Smartleaf Asset Management LLC now owns 1,076 shares of the bank’s stock valued at $80,000 after purchasing an additional 353 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

Ameris Bancorp Trading Up 2.1%

Shares of Ameris Bancorp stock opened at $81.04 on Thursday. Ameris Bancorp has a 12-month low of $48.27 and a 12-month high of $87.98. The stock has a market capitalization of $5.54 billion, a P/E ratio of 15.55 and a beta of 0.99. The company has a 50-day simple moving average of $80.01 and a 200 day simple moving average of $75.89. 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 (NASDAQ:ABCB) last issued its quarterly earnings data on Thursday, January 29th. The bank reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.03. The firm had revenue of $309.92 million for the quarter, compared to analysts’ expectations of $310.48 million. Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. During the same period in the prior year, the firm earned $1.38 earnings per share. Research analysts expect that Ameris Bancorp will post 4.99 earnings per share for the current fiscal year.

Ameris Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Wednesday, December 31st were given a dividend of $0.20 per share. The ex-dividend date was Wednesday, December 31st. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. Ameris Bancorp’s dividend payout ratio is 13.33%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Stephens lifted their price target on shares of Ameris Bancorp from $79.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Monday, February 2nd. Piper Sandler set a $84.00 price objective on shares of Ameris Bancorp in a report on Wednesday, October 29th. Raymond James Financial reissued an “outperform” rating and issued a $80.00 target price (up from $73.00) on shares of Ameris Bancorp in a research note on Wednesday, October 29th. Keefe, Bruyette & Woods increased their price target on shares of Ameris Bancorp from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Finally, DA Davidson set a $94.00 price target on shares of Ameris Bancorp in a research note on Monday, February 2nd. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.50.

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.