Greenwood Capital Associates LLC Invests $834,000 in Ameris Bancorp $ABCB

Greenwood Capital Associates LLC acquired a new position in Ameris Bancorp (NASDAQ:ABCB) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 10,692 shares of the bank’s stock, valued at approximately $834,000.

Several other large investors also recently added to or reduced their stakes in ABCB. Inspire Investing LLC boosted its stake in Ameris Bancorp by 2.0% during the fourth quarter. Inspire Investing LLC now owns 6,308 shares of the bank’s stock valued at $468,000 after buying an additional 125 shares during the period. Maryland State Retirement & Pension System increased its stake in Ameris Bancorp by 1.4% in the 4th quarter. Maryland State Retirement & Pension System now owns 9,365 shares of the bank’s stock worth $696,000 after acquiring an additional 133 shares during the last quarter. HighTower Advisors LLC increased its stake in Ameris Bancorp by 1.6% in the 4th quarter. HighTower Advisors LLC now owns 9,054 shares of the bank’s stock worth $672,000 after acquiring an additional 143 shares during the last quarter. Lido Advisors LLC raised its holdings in shares of Ameris Bancorp by 2.6% in the 4th quarter. Lido Advisors LLC now owns 6,456 shares of the bank’s stock valued at $476,000 after acquiring an additional 162 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of Ameris Bancorp by 1.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,639 shares of the bank’s stock valued at $1,087,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Piper Sandler reiterated an “overweight” rating and set a $96.00 price target on shares of Ameris Bancorp in a research report on Wednesday, June 24th. Truist Financial upped their price objective on shares of Ameris Bancorp from $85.00 to $89.00 and gave the stock a “hold” rating in a research report on Monday, April 27th. DA Davidson raised their target price on shares of Ameris Bancorp from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Morgan Stanley upgraded shares of Ameris Bancorp to an “overweight” rating in a research report on Wednesday, June 24th. Finally, Raymond James Financial cut shares of Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 1st. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $92.17.

Ameris Bancorp Trading Up 1.9%

Shares of ABCB stock opened at $89.79 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average price of $86.58 and a two-hundred day moving average price of $82.19. Ameris Bancorp has a 12-month low of $64.64 and a 12-month high of $92.43. The firm has a market cap of $6.04 billion, a P/E ratio of 17.23 and a beta of 0.91.

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

Ameris Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Tuesday, June 30th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.80 annualized dividend and a yield of 0.9%. Ameris Bancorp’s dividend payout ratio is currently 12.58%.

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.