Commerce Bank Makes New $607,000 Investment in Ameris Bancorp $ABCB

Commerce Bank bought a new stake in shares of Ameris Bancorp (NASDAQ:ABCB) in the second quarter, Holdings Channel reports. The firm bought 6,726 shares of the bank’s stock, valued at approximately $607,000.

Several other institutional investors and hedge funds have also modified their holdings of ABCB. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Ameris Bancorp during the second quarter worth $34,000. Measured Wealth Private Client Group LLC acquired a new stake in Ameris Bancorp during the third quarter valued at $45,000. Danske Bank A S acquired a new stake in Ameris Bancorp during the third quarter valued at $51,000. Allworth Financial LP purchased a new position in Ameris Bancorp in the second quarter valued at about $67,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in Ameris Bancorp by 316.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,059 shares of the bank’s stock valued at $79,000 after purchasing an additional 805 shares in the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on ABCB. DA Davidson raised their price target on Ameris Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Raymond James Financial cut Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 1st. Truist Financial dropped their price objective on Ameris Bancorp from $92.00 to $90.00 and set a “hold” rating on the stock in a report on Tuesday, July 28th. Stephens set a $88.00 price objective on shares of Ameris Bancorp in a research report on Monday, July 27th. Finally, Piper Sandler reduced their target price on shares of Ameris Bancorp from $96.00 to $92.00 and set a “neutral” rating for the company in a research note on Monday, July 27th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Ameris Bancorp presently has an average rating of “Hold” and an average price target of $91.67.

Ameris Bancorp Trading Down 0.5%

Ameris Bancorp stock opened at $85.44 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. The company has a market capitalization of $5.73 billion, a price-to-earnings ratio of 16.40 and a beta of 0.92. Ameris Bancorp has a one year low of $68.80 and a one year high of $93.22. The company’s fifty day moving average price is $88.83 and its two-hundred day moving average price is $84.52.

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

Ameris Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Ameris Bancorp’s dividend payout ratio is 14.47%.

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.