6,098 Shares in Ameris Bancorp $ABCB Purchased by EP Wealth Advisors LLC

EP Wealth Advisors LLC purchased a new stake in Ameris Bancorp (NASDAQ:ABCB) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 6,098 shares of the bank’s stock, valued at approximately $550,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bard Associates Inc. acquired a new stake in Ameris Bancorp during the 2nd quarter worth approximately $788,000. Ieq Capital LLC acquired a new position in shares of Ameris Bancorp in the second quarter valued at approximately $641,000. Callan Family Office LLC acquired a new position in shares of Ameris Bancorp in the second quarter valued at approximately $482,000. Allworth Financial LP acquired a new position in shares of Ameris Bancorp in the second quarter valued at approximately $67,000. Finally, Vise Technologies Inc. purchased a new stake in shares of Ameris Bancorp during the second quarter worth approximately $499,000. 91.60% of the stock is owned by hedge funds and other institutional investors.

Ameris Bancorp Stock Performance

Shares of ABCB stock opened at $86.00 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The stock has a 50 day simple moving average of $88.93 and a 200-day simple moving average of $84.50. The company has a market cap of $5.77 billion, a price-to-earnings ratio of 16.51 and a beta of 0.92. Ameris Bancorp has a 12-month low of $68.80 and a 12-month high of $93.22.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings results on Thursday, July 23rd. The bank reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.06). Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. The business had revenue of $317.78 million during the quarter, compared to analysts’ expectations of $323.78 million. During the same quarter last year, the firm earned $1.59 earnings per share. On average, equities analysts forecast that Ameris Bancorp will post 4.99 EPS for the current year.

Ameris Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Tuesday, June 30th were 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 was Tuesday, June 30th. Ameris Bancorp’s payout ratio is presently 14.47%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ABCB. DA Davidson increased their price target on Ameris Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Piper Sandler dropped their price objective on shares of Ameris Bancorp from $96.00 to $92.00 and set a “neutral” rating on the stock in a research note on Monday, July 27th. Truist Financial cut their price objective on shares of Ameris Bancorp from $92.00 to $90.00 and set a “hold” rating for the company in a research report on Tuesday, July 28th. Morgan Stanley upgraded shares of Ameris Bancorp to an “overweight” rating in a research note on Wednesday, June 24th. Finally, Stephens set a $88.00 target price on shares of Ameris Bancorp in a report on Monday, July 27th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $91.67.

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.