7,100 Shares in Ameris Bancorp $ABCB Bought by Ieq Capital LLC

Ieq Capital LLC purchased a new position in shares of Ameris Bancorp (NASDAQ:ABCB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,100 shares of the bank’s stock, valued at approximately $641,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Ameris Bancorp during the 2nd quarter worth approximately $34,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Ameris Bancorp during the 3rd quarter worth approximately $45,000. Danske Bank A S acquired a new stake in shares of Ameris Bancorp in the 3rd quarter valued at approximately $51,000. Allworth Financial LP bought a new stake in shares of Ameris Bancorp in the 2nd quarter valued at about $67,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Ameris Bancorp by 316.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,059 shares of the bank’s stock valued at $79,000 after acquiring an additional 805 shares during the period. 91.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Morgan Stanley upgraded shares of Ameris Bancorp to an “overweight” rating in a research report on Wednesday, June 24th. DA Davidson upped their target price on Ameris Bancorp from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Raymond James Financial lowered Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 1st. Stephens set a $88.00 target price on shares of Ameris Bancorp in a research report on Monday, July 27th. Finally, Truist Financial decreased their price target on shares of Ameris Bancorp from $92.00 to $90.00 and set a “hold” rating on the stock in a research note on Tuesday, July 28th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $91.67.

Ameris Bancorp Trading Up 0.2%

Shares of NASDAQ:ABCB opened at $85.58 on Friday. The company has a market capitalization of $5.74 billion, a P/E ratio of 16.43 and a beta of 0.92. Ameris Bancorp has a 1 year low of $68.80 and a 1 year high of $93.22. 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 business’s 50 day simple moving average is $88.79 and its 200 day simple moving average is $84.53.

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

Ameris Bancorp Dividend Announcement

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

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.