Fox Run Management L.L.C. Takes Position in Ameris Bancorp $ABCB

Fox Run Management L.L.C. acquired a new position in shares of Ameris Bancorp (NASDAQ:ABCB) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 16,081 shares of the bank’s stock, valued at approximately $1,179,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Ameris Bancorp during the 2nd quarter worth about $53,624,000. JPMorgan Chase & Co. increased its holdings in Ameris Bancorp by 67.4% in the second quarter. JPMorgan Chase & Co. now owns 1,218,958 shares of the bank’s stock worth $78,867,000 after buying an additional 490,602 shares during the last quarter. Bessemer Group Inc. raised its position in Ameris Bancorp by 98,682.6% during the third quarter. Bessemer Group Inc. now owns 351,666 shares of the bank’s stock valued at $25,780,000 after acquiring an additional 351,310 shares in the last quarter. Jennison Associates LLC lifted its stake in Ameris Bancorp by 54.6% in the second quarter. Jennison Associates LLC now owns 777,107 shares of the bank’s stock valued at $50,279,000 after acquiring an additional 274,417 shares during the last quarter. Finally, Davis Asset Management L.P. grew its position in Ameris Bancorp by 55.5% in the second quarter. Davis Asset Management L.P. now owns 621,800 shares of the bank’s stock worth $40,230,000 after acquiring an additional 221,800 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Ameris Bancorp Trading Up 2.1%

Shares of NASDAQ:ABCB opened at $81.04 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. The stock’s 50-day moving average is $80.01 and its 200-day moving average is $75.89. The company has a market cap of $5.54 billion, a P/E ratio of 15.55 and a beta of 0.99. Ameris Bancorp has a 52-week low of $48.27 and a 52-week high of $87.98.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings data on Thursday, January 29th. The bank reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.03. The business had revenue of $309.92 million during the quarter, compared to analysts’ expectations of $310.48 million. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.During the same quarter in the previous year, the firm earned $1.38 EPS. Equities research analysts predict that Ameris Bancorp will post 4.99 earnings per share for the current year.

Ameris Bancorp Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ABCB shares. Keefe, Bruyette & Woods lifted their price objective 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. Stephens raised their target price on Ameris Bancorp from $79.00 to $87.00 and gave the company an “equal weight” rating in a report on Monday, February 2nd. Truist Financial boosted their price target on Ameris Bancorp from $83.00 to $86.00 and gave the stock a “hold” rating in a research report on Monday, February 2nd. DA Davidson set a $94.00 price objective on Ameris Bancorp in a report on Monday, February 2nd. Finally, Raymond James Financial reissued an “outperform” rating and issued a $80.00 price objective (up from $73.00) on shares of Ameris Bancorp in a research note on Wednesday, October 29th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $86.50.

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.