Ameris Bancorp $ABCB Stock Position Lifted by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH raised its stake in Ameris Bancorp (NASDAQ:ABCB) by 16.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 394,563 shares of the bank’s stock after purchasing an additional 56,852 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Ameris Bancorp were worth $28,925,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. True Wealth Design LLC grew its holdings in shares of Ameris Bancorp by 2,311.8% during the 2nd quarter. True Wealth Design LLC now owns 410 shares of the bank’s stock valued at $27,000 after acquiring an additional 393 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Ameris Bancorp by 73.2% during the second quarter. Farther Finance Advisors LLC now owns 492 shares of the bank’s stock valued at $32,000 after purchasing an additional 208 shares during the last quarter. Allworth Financial LP grew its stake in Ameris Bancorp by 1,567.6% in the second quarter. Allworth Financial LP now owns 567 shares of the bank’s stock valued at $37,000 after purchasing an additional 533 shares in the last quarter. Bayforest Capital Ltd acquired a new position in Ameris Bancorp in the 2nd quarter worth about $68,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Ameris Bancorp by 432.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,716 shares of the bank’s stock worth $111,000 after purchasing an additional 1,394 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Ameris Bancorp Price Performance

Shares of Ameris Bancorp stock opened at $75.26 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The firm has a fifty day simple moving average of $74.91 and a 200-day simple moving average of $71.64. The stock has a market capitalization of $5.14 billion, a price-to-earnings ratio of 14.45 and a beta of 1.00. Ameris Bancorp has a 1-year low of $48.27 and a 1-year high of $78.99.

Ameris Bancorp declared that its board has approved a share repurchase program on Monday, October 20th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the bank to purchase up to 4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Ameris Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, December 31st. Ameris Bancorp’s dividend payout ratio is 13.84%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ABCB shares. Truist Financial assumed coverage on Ameris Bancorp in a research note on Tuesday, November 25th. They issued a “hold” rating and a $80.00 price target for the company. Keefe, Bruyette & Woods boosted their target price on shares of Ameris Bancorp from $78.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Raymond James Financial restated an “outperform” rating and set a $80.00 price target (up previously from $73.00) on shares of Ameris Bancorp in a research note on Wednesday, October 29th. DA Davidson started coverage on shares of Ameris Bancorp in a research note on Tuesday, November 25th. They issued a “buy” rating and a $87.00 price objective for the company. Finally, Piper Sandler set a $84.00 target price on shares of Ameris Bancorp in a research report on Wednesday, October 29th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $78.57.

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.