MidFirst Bank Takes Position in Ameris Bancorp $ABCB

MidFirst Bank purchased a new stake in shares of Ameris Bancorp (NASDAQ:ABCB) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 5,831 shares of the bank’s stock, valued at approximately $433,000.

A number of other large investors have also added to or reduced their stakes in the company. Sound Income Strategies LLC acquired a new position in Ameris Bancorp in the 4th quarter worth $29,000. Measured Wealth Private Client Group LLC acquired a new stake in Ameris Bancorp during the 3rd quarter valued at approximately $45,000. Danske Bank A S acquired a new stake in Ameris Bancorp during the 3rd quarter valued at approximately $51,000. Aster Capital Management DIFC Ltd increased its holdings in Ameris Bancorp by 395.4% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 748 shares of the bank’s stock worth $55,000 after purchasing an additional 597 shares during the last quarter. Finally, Torren Management LLC purchased a new stake in Ameris Bancorp during the 4th quarter worth approximately $76,000. 91.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. DA Davidson increased their target price on Ameris Bancorp from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Raymond James Financial restated an “outperform” rating and issued a $92.00 price target on shares of Ameris Bancorp in a research note on Monday, April 27th. Stephens upped their price target on shares of Ameris Bancorp from $87.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, April 27th. Finally, Truist Financial increased their price objective on shares of Ameris Bancorp from $85.00 to $89.00 and gave the company a “hold” rating in a research note on Monday, April 27th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $90.17.

Ameris Bancorp Stock Up 0.1%

Shares of Ameris Bancorp stock opened at $87.65 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 firm has a market cap of $5.90 billion, a P/E ratio of 16.82 and a beta of 0.91. Ameris Bancorp has a fifty-two week low of $60.53 and a fifty-two week high of $90.00. The business has a 50-day moving average price of $84.97 and a 200 day moving average price of $80.92.

Ameris Bancorp (NASDAQ:ABCB) last released its earnings results on Thursday, April 23rd. The bank reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The company had revenue of $314.36 million for the quarter, compared to the consensus estimate of $309.58 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 posted $1.28 EPS. On average, sell-side analysts forecast that Ameris Bancorp will post 4.99 earnings per share for the current fiscal year.

Ameris Bancorp Dividend Announcement

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

About Ameris Bancorp

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.