OP Asset Management Ltd Takes Position in Ameris Bancorp $ABCB

OP Asset Management Ltd acquired a new position in Ameris Bancorp (NASDAQ:ABCB) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 22,434 shares of the bank’s stock, valued at approximately $1,750,000.

Other large investors have also recently modified their holdings of the company. Sound Income Strategies LLC purchased a new stake in Ameris Bancorp during the fourth quarter valued at approximately $29,000. Measured Wealth Private Client Group LLC purchased a new position in Ameris Bancorp in the third quarter worth $45,000. Danske Bank A S purchased a new position in Ameris Bancorp in the third quarter worth $51,000. Aster Capital Management DIFC Ltd increased its position in shares of Ameris Bancorp by 395.4% during the third quarter. Aster Capital Management DIFC Ltd now owns 748 shares of the bank’s stock worth $55,000 after purchasing an additional 597 shares in the last quarter. Finally, Torren Management LLC acquired a new position in shares of Ameris Bancorp during the fourth quarter worth $76,000. Institutional investors own 91.60% of the company’s stock.

Ameris Bancorp Stock Down 0.1%

Shares of ABCB stock opened at $90.92 on Monday. Ameris Bancorp has a fifty-two week low of $64.30 and a fifty-two week high of $91.41. The firm has a market capitalization of $6.12 billion, a PE ratio of 17.45 and a beta of 0.91. 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 stock’s 50-day simple moving average is $85.59 and its 200-day simple moving average is $81.40.

Ameris Bancorp (NASDAQ:ABCB) last released its earnings results on Thursday, April 23rd. The bank reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.The firm had revenue of $314.36 million during the quarter, compared to the consensus estimate of $309.58 million. During the same quarter in the previous year, the company posted $1.28 earnings per share. Equities analysts expect that Ameris Bancorp will post 4.99 earnings per share for the current year.

Ameris Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Tuesday, June 30th will be given a $0.20 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. Ameris Bancorp’s dividend payout ratio is 12.58%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ABCB. Truist Financial raised their price objective on Ameris Bancorp from $85.00 to $89.00 and gave the stock a “hold” rating in a research report on Monday, April 27th. Stephens upped their target price on Ameris Bancorp from $87.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, April 27th. Raymond James Financial reiterated an “outperform” rating and issued a $92.00 price target on shares of Ameris Bancorp in a research note on Monday, April 27th. Morgan Stanley raised Ameris Bancorp to an “overweight” rating in a report on Wednesday. Finally, Piper Sandler restated an “overweight” rating and set a $96.00 price target on shares of Ameris Bancorp in a research note on Wednesday. Five 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.com, Ameris Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $92.17.

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.