6,130 Shares in Ameris Bancorp $ABCB Acquired by Alps Advisors Inc.

Alps Advisors Inc. purchased a new stake in Ameris Bancorp (NASDAQ:ABCB) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 6,130 shares of the bank’s stock, valued at approximately $449,000.

Several other institutional investors also recently made changes to their positions in the stock. Royal Bank of Canada raised its position in shares of Ameris Bancorp by 9.5% in the 1st quarter. Royal Bank of Canada now owns 29,288 shares of the bank’s stock worth $1,687,000 after buying an additional 2,546 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Ameris Bancorp by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,181 shares of the bank’s stock worth $2,256,000 after acquiring an additional 1,703 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of 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 during the period. United Services Automobile Association purchased a new position in shares of Ameris Bancorp in the 1st quarter worth about $243,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Ameris Bancorp by 7.9% in 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 valued at $10,767,000 after purchasing an additional 13,633 shares in the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ABCB has been the topic of several research reports. Truist Financial raised their price target on shares of Ameris Bancorp from $83.00 to $86.00 and gave the company a “hold” rating in a report on Monday, February 2nd. Piper Sandler set a $84.00 target price on shares of Ameris Bancorp in a research note on Wednesday, October 29th. Keefe, Bruyette & Woods lifted their target price on shares of Ameris Bancorp from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. Raymond James Financial reiterated an “outperform” rating and issued a $80.00 price target (up from $73.00) on shares of Ameris Bancorp in a report on Wednesday, October 29th. Finally, Stephens boosted their price objective on Ameris Bancorp from $79.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Monday, February 2nd. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Ameris Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $86.50.

Ameris Bancorp Trading Up 0.9%

NASDAQ:ABCB opened at $83.99 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. Ameris Bancorp has a one year low of $48.27 and a one year high of $87.98. The business’s 50-day simple moving average is $79.27 and its 200 day simple moving average is $75.05. The stock has a market cap of $5.74 billion, a price-to-earnings ratio of 16.12 and a beta of 0.99.

Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings data on Thursday, January 29th. The bank reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.03. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.The firm had revenue of $309.92 million during the quarter, compared to analyst estimates of $310.48 million. During the same quarter last year, the firm earned $1.38 EPS. As a group, sell-side analysts predict that Ameris Bancorp will post 4.99 earnings per share for the current fiscal year.

Ameris Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Wednesday, December 31st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Wednesday, December 31st. Ameris Bancorp’s payout ratio is 13.33%.

Ameris Bancorp declared that its Board of Directors has authorized a stock buyback program on Monday, October 20th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the bank to purchase up to 4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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.