Ameris Bancorp $ABCB Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP decreased its holdings in Ameris Bancorp (NASDAQ:ABCB) by 0.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 4,183,238 shares of the bank’s stock after selling 27,587 shares during the period. Dimensional Fund Advisors LP owned approximately 6.10% of Ameris Bancorp worth $306,678,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC increased its position in shares of Ameris Bancorp by 2,311.8% in the second quarter. True Wealth Design LLC now owns 410 shares of the bank’s stock worth $27,000 after acquiring an additional 393 shares in the last quarter. Salomon & Ludwin LLC purchased a new stake in Ameris Bancorp during the 3rd quarter worth $33,000. Allworth Financial LP increased its holdings in Ameris Bancorp by 1,567.6% in the 2nd 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. Covestor Ltd raised its position in Ameris Bancorp by 51.5% in the third quarter. Covestor Ltd now owns 547 shares of the bank’s stock valued at $40,000 after purchasing an additional 186 shares during the period. Finally, Aster Capital Management DIFC Ltd raised its position in Ameris Bancorp by 395.4% in the third quarter. Aster Capital Management DIFC Ltd now owns 748 shares of the bank’s stock valued at $55,000 after purchasing an additional 597 shares during the period. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Ameris Bancorp Price Performance

Shares of NASDAQ ABCB opened at $78.96 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. Ameris Bancorp has a fifty-two week low of $48.27 and a fifty-two week high of $87.98. The business has a 50 day moving average price of $80.31 and a two-hundred day moving average price of $76.25. The firm has a market cap of $5.36 billion, a PE ratio of 15.16 and a beta of 0.97.

Ameris Bancorp (NASDAQ:ABCB) last released its earnings results on Thursday, January 29th. The bank reported $1.59 EPS for the quarter, beating the consensus estimate of $1.56 by $0.03. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.The company had revenue of $309.92 million during the quarter, compared to analysts’ expectations of $310.48 million. During the same period in the prior year, the business posted $1.38 EPS. Sell-side analysts expect that Ameris Bancorp will post 4.99 earnings per share for the current fiscal year.

Ameris Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Wednesday, December 31st. Ameris Bancorp’s dividend payout ratio (DPR) is currently 13.33%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their target price on Ameris Bancorp from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. DA Davidson set a $94.00 price target on Ameris Bancorp in a report on Monday, February 2nd. Stephens increased their price objective on shares of Ameris Bancorp from $79.00 to $87.00 and gave the company an “equal weight” rating in a research report on Monday, February 2nd. Finally, Truist Financial boosted their target price on shares of Ameris Bancorp from $83.00 to $86.00 and gave the stock a “hold” rating in a research report on Monday, February 2nd. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Ameris Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $86.50.

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.