Ameris Bancorp $ABCB Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp boosted its holdings in Ameris Bancorp (NASDAQ:ABCB) by 6,188.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,236 shares of the bank’s stock after buying an additional 17,946 shares during the quarter. Fifth Third Bancorp’s holdings in Ameris Bancorp were worth $1,422,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Royal Bank of Canada raised its position in shares of Ameris Bancorp by 9.5% during the first quarter. Royal Bank of Canada now owns 29,288 shares of the bank’s stock worth $1,687,000 after purchasing an additional 2,546 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Ameris Bancorp by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,181 shares of the bank’s stock valued at $2,256,000 after purchasing an additional 1,703 shares during the period. NewEdge Advisors LLC increased its stake in Ameris Bancorp by 36.7% in the 1st quarter. NewEdge Advisors LLC now owns 11,651 shares of the bank’s stock worth $671,000 after purchasing an additional 3,129 shares in the last quarter. United Services Automobile Association purchased a new position in Ameris Bancorp in the 1st quarter worth about $243,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Ameris Bancorp by 7.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 187,024 shares of the bank’s stock worth $10,767,000 after buying an additional 13,633 shares during the period. Institutional investors own 91.60% of the company’s stock.

Ameris Bancorp Trading Down 0.9%

NASDAQ:ABCB opened at $89.03 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. Ameris Bancorp has a fifty-two week low of $64.64 and a fifty-two week high of $93.22. The stock’s 50-day moving average is $87.67 and its two-hundred day moving average is $83.24. The stock has a market cap of $5.99 billion, a PE ratio of 17.09 and a beta of 0.91.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings results on Thursday, July 23rd. The bank reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.06). The company had revenue of $317.78 million during the quarter, compared to analysts’ expectations of $323.78 million. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.During the same period last year, the company earned $1.59 earnings per share. As a group, equities research analysts forecast that Ameris Bancorp will post 4.99 earnings per share for the current fiscal year.

Ameris Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was 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 (DPR) is 12.58%.

Analysts Set New Price Targets

Several brokerages have commented on ABCB. DA Davidson raised their target price on shares of Ameris Bancorp from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Truist Financial boosted their price target on shares of Ameris Bancorp from $89.00 to $92.00 and gave the company a “hold” rating in a report on Friday, July 10th. Raymond James Financial downgraded shares of Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 1st. Piper Sandler lowered shares of Ameris Bancorp from an “overweight” rating to a “neutral” rating and set a $96.00 price objective for the company. in a research note on Sunday, July 12th. Finally, Stephens lifted their price objective on shares of Ameris Bancorp from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, April 27th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $92.67.

Ameris Bancorp 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.