New Age Alpha Advisors LLC Has $4.12 Million Stock Position in Ameris Bancorp $ABCB

New Age Alpha Advisors LLC lowered its holdings in shares of Ameris Bancorp (NASDAQ:ABCB) by 22.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,424 shares of the bank’s stock after selling 16,281 shares during the period. New Age Alpha Advisors LLC owned approximately 0.08% of Ameris Bancorp worth $4,116,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Sound Income Strategies LLC bought a new position in shares of Ameris Bancorp during the 4th quarter worth about $29,000. Covestor Ltd grew its stake in shares of Ameris Bancorp by 51.5% in the 3rd quarter. Covestor Ltd now owns 547 shares of the bank’s stock valued at $40,000 after buying an additional 186 shares during the period. Measured Wealth Private Client Group LLC acquired a new stake in shares of Ameris Bancorp in the 3rd quarter valued at about $45,000. Danske Bank A S acquired a new stake in shares of Ameris Bancorp in the 3rd quarter valued at about $51,000. Finally, Aster Capital Management DIFC Ltd grew its stake in shares of Ameris Bancorp by 395.4% in the 3rd 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 during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.

Ameris Bancorp Price Performance

Shares of NASDAQ ABCB opened at $84.72 on Tuesday. Ameris Bancorp has a fifty-two week low of $59.54 and a fifty-two week high of $87.99. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 16.26 and a beta of 0.93. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. The firm’s 50-day simple moving average is $81.57 and its 200 day simple moving average is $79.33.

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

Ameris Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 6th. Investors of record on Tuesday, March 31st were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.80 annualized dividend and a yield of 0.9%. Ameris Bancorp’s dividend payout ratio (DPR) is presently 12.58%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ABCB. Keefe, Bruyette & Woods raised their target price on Ameris Bancorp from $82.00 to $88.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Truist Financial raised their target price on Ameris Bancorp from $85.00 to $89.00 and gave the company a “hold” rating in a research note on Monday, April 27th. Raymond James Financial restated an “outperform” rating and issued a $92.00 target price on shares of Ameris Bancorp in a research note on Monday, April 27th. Stephens raised their target price on Ameris Bancorp from $87.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, April 27th. Finally, DA Davidson raised their target price on Ameris Bancorp from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Ameris Bancorp has an average rating of “Moderate Buy” and a consensus price target of $90.17.

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.