Ameris Bancorp $ABCB Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC raised its position in shares of Ameris Bancorp (NASDAQ:ABCB) by 33.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,957 shares of the bank’s stock after buying an additional 7,728 shares during the quarter. SG Americas Securities LLC’s holdings in Ameris Bancorp were worth $2,269,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ABCB. True Wealth Design LLC increased its holdings in shares of Ameris Bancorp by 2,311.8% in the 2nd quarter. True Wealth Design LLC now owns 410 shares of the bank’s stock valued at $27,000 after acquiring an additional 393 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Ameris Bancorp by 73.2% in the second quarter. Farther Finance Advisors LLC now owns 492 shares of the bank’s stock worth $32,000 after purchasing an additional 208 shares during the period. Salomon & Ludwin LLC bought a new stake in Ameris Bancorp during the third quarter valued at $33,000. Allworth Financial LP raised its holdings in shares of Ameris Bancorp by 1,567.6% during the second quarter. Allworth Financial LP now owns 567 shares of the bank’s stock worth $37,000 after purchasing an additional 533 shares during the period. Finally, Bayforest Capital Ltd bought a new position in shares of Ameris Bancorp in the 2nd quarter worth about $68,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Truist Financial set a $83.00 price objective on shares of Ameris Bancorp in a research report on Friday. Raymond James Financial reaffirmed an “outperform” rating and set a $80.00 target price (up from $73.00) on shares of Ameris Bancorp in a report on Wednesday, October 29th. Keefe, Bruyette & Woods increased their price target on Ameris Bancorp from $78.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. DA Davidson began coverage on Ameris Bancorp in a research report on Tuesday, November 25th. They set a “buy” rating and a $87.00 price objective for the company. Finally, Piper Sandler set a $84.00 target price on Ameris Bancorp in a research report on Wednesday, October 29th. Five equities research 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $79.00.

Ameris Bancorp Stock Down 1.5%

ABCB opened at $78.15 on Wednesday. Ameris Bancorp has a 12 month low of $48.27 and a 12 month high of $80.01. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. The stock has a market cap of $5.34 billion, a P/E ratio of 15.00 and a beta of 0.99. The stock’s 50 day moving average price is $75.71 and its 200 day moving average price is $72.67.

Ameris Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, December 31st. Ameris Bancorp’s dividend payout ratio (DPR) is 13.84%.

Ameris Bancorp declared that its Board of Directors has initiated a share buyback plan on Monday, October 20th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the bank to reacquire up to 4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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.