Greenwood Capital Associates LLC Acquires New Stake in Ameris Bancorp $ABCB

Greenwood Capital Associates LLC acquired a new stake in shares of Ameris Bancorp (NASDAQ:ABCB) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,692 shares of the bank’s stock, valued at approximately $834,000.

A number of other large investors have also bought and sold shares of the company. Sound Income Strategies LLC purchased a new position in shares of Ameris Bancorp during the 4th quarter valued at $29,000. Measured Wealth Private Client Group LLC purchased a new stake in Ameris Bancorp in the 3rd quarter worth about $45,000. Danske Bank A S purchased a new stake in Ameris Bancorp in the 3rd quarter worth about $51,000. Torren Management LLC bought a new stake in Ameris Bancorp in the 4th quarter valued at about $76,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in Ameris Bancorp by 316.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,059 shares of the bank’s stock valued at $79,000 after acquiring an additional 805 shares during the period. 91.60% of the stock is owned by hedge funds and other institutional investors.

Ameris Bancorp Stock Performance

NASDAQ:ABCB opened at $89.79 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 52-week low of $64.64 and a 52-week high of $92.43. The firm has a market cap of $6.04 billion, a price-to-earnings ratio of 17.23 and a beta of 0.91. The business’s fifty day moving average is $86.58 and its 200 day moving average is $82.19.

Ameris Bancorp (NASDAQ:ABCB) last issued its earnings results on Thursday, April 23rd. The bank reported $1.63 EPS for the quarter, topping the consensus estimate of $1.54 by $0.09. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.The business had revenue of $314.36 million during the quarter, compared to the consensus estimate of $309.58 million. During the same quarter last year, the company earned $1.28 EPS. Research analysts predict that Ameris Bancorp will post 4.99 EPS for the current year.

Ameris Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Tuesday, June 30th were paid a dividend of $0.20 per share. 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 payout ratio is currently 12.58%.

Analyst Upgrades and Downgrades

ABCB has been the topic of several recent research reports. Morgan Stanley raised shares of Ameris Bancorp to an “overweight” rating in a report on Wednesday, June 24th. Raymond James Financial lowered shares of Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 1st. DA Davidson upped their price target 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. Truist Financial raised their price objective on shares of Ameris Bancorp from $85.00 to $89.00 and gave the stock a “hold” rating in a report on Monday, April 27th. Finally, Stephens raised their price objective on shares of Ameris Bancorp from $87.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, April 27th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $92.17.

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.