Ameris Bancorp $ABCB Shares Purchased by UBS Group AG

UBS Group AG increased its position in shares of Ameris Bancorp (NASDAQ:ABCB) by 10.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 271,568 shares of the bank’s stock after buying an additional 26,320 shares during the period. UBS Group AG owned 0.40% of Ameris Bancorp worth $20,169,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sound Income Strategies LLC acquired a new position in shares of Ameris Bancorp in the fourth quarter worth about $29,000. Covestor Ltd increased its stake in shares of Ameris Bancorp by 51.5% in the 3rd quarter. Covestor Ltd now owns 547 shares of the bank’s stock valued at $40,000 after purchasing an additional 186 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in shares of Ameris Bancorp in the 3rd quarter valued at about $45,000. Danske Bank A S acquired a new position in Ameris Bancorp in the 3rd quarter worth about $51,000. Finally, Aster Capital Management DIFC Ltd raised its holdings in Ameris Bancorp by 395.4% in 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 period. Institutional investors and hedge funds own 91.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ABCB. Stephens raised their price objective on Ameris Bancorp from $87.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, April 27th. Truist Financial upped their target price on Ameris Bancorp from $85.00 to $89.00 and gave the stock a “hold” rating in a research note on Monday, April 27th. Keefe, Bruyette & Woods lifted their price target on shares of Ameris Bancorp from $82.00 to $88.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. DA Davidson boosted their price target on shares of Ameris Bancorp from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $92.00 price objective on shares of Ameris Bancorp in a report on Monday, April 27th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.17.

Ameris Bancorp Price Performance

Shares of Ameris Bancorp stock opened at $85.04 on Tuesday. The business has a 50 day simple moving average of $80.31 and a two-hundred day simple moving average of $78.55. Ameris Bancorp has a 12 month low of $59.54 and a 12 month high of $87.99. The stock has a market capitalization of $5.81 billion, a P/E ratio of 16.32 and a beta of 0.93. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00.

Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.The firm had revenue of $314.36 million for the quarter, compared to analyst estimates of $309.58 million. During the same period in the previous year, the company posted $1.28 earnings per share. As a group, analysts predict that Ameris Bancorp will post 4.99 EPS for the current fiscal year.

Ameris Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 6th. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, March 31st. Ameris Bancorp’s payout ratio is 12.58%.

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.