Ameris Bancorp $ABCB Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al trimmed its position in Ameris Bancorp (NYSE:ABCB) by 84.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,123 shares of the bank’s stock after selling 28,400 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Ameris Bancorp were worth $407,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of ABCB. Cahaba Wealth Management Inc. raised its holdings in Ameris Bancorp by 5.4% in the 3rd quarter. Cahaba Wealth Management Inc. now owns 17,159 shares of the bank’s stock worth $1,364,000 after acquiring an additional 876 shares during the period. Gibbs Wealth Management lifted its position in Ameris Bancorp by 6.6% during the 3rd quarter. Gibbs Wealth Management now owns 13,132 shares of the bank’s stock worth $1,044,000 after acquiring an additional 810 shares during the last quarter. Inspire Investing LLC boosted its holdings in Ameris Bancorp by 6.0% during the third quarter. Inspire Investing LLC now owns 7,988 shares of the bank’s stock valued at $635,000 after acquiring an additional 455 shares during the period. Root Financial Partners LLC bought a new stake in Ameris Bancorp during the third quarter valued at about $27,000. Finally, Genesee Capital Advisors LLC bought a new stake in Ameris Bancorp during the third quarter valued at about $236,000. 91.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ABCB shares. Wall Street Zen raised Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, October 24th. Weiss Ratings began coverage on Ameris Bancorp in a report on Wednesday, September 2nd. They issued a “buy (b)” rating on the stock. Truist Financial lifted their price target on Ameris Bancorp from $84.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, October 28th. Stephens set a $88.00 price target on Ameris Bancorp in a research report on Monday, July 27th. Finally, Piper Sandler cut their price target on Ameris Bancorp from $96.00 to $92.00 and set a “neutral” rating for the company in a report on Monday, July 27th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $90.50.

Ameris Bancorp Price Performance

NYSE:ABCB opened at $81.79 on Friday. The company has a 50-day moving average of $82.20 and a 200-day moving average of $83.76. The company has a market capitalization of $5.49 billion, a price-to-earnings ratio of 14.30 and a beta of 0.99. Ameris Bancorp has a 52 week low of $69.58 and a 52 week high of $93.22. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.01 and a current ratio of 1.03.

Ameris Bancorp (NYSE:ABCB) last posted its earnings results on Thursday, October 22nd. The bank reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.05. The business had revenue of $320.94 million for the quarter, compared to analysts’ expectations of $326.72 million. Ameris Bancorp had a net margin of 22.47% and a return on equity of 10.81%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.54 earnings per share. As a group, equities research analysts anticipate that Ameris Bancorp will post 6.63 earnings per share for the current fiscal year.

Ameris Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Wednesday, September 30th were paid a dividend of $0.20 per share. The ex-dividend date was Wednesday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. Ameris Bancorp’s dividend payout ratio (DPR) is currently 13.99%.

About Ameris Bancorp

Ameris Bancorp (NYSE: ABCB) is a bank holding company and the parent company of Ameris Bank, a full-service financial institution serving individuals, businesses and communities primarily across the southeastern United States.

Ameris Bank offers a range of banking products and services, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial and industrial lending, commercial real estate financing, treasury management and wealth management services.