Ieq Capital LLC Takes Position in Ameris Bancorp $ABCB

Ieq Capital LLC purchased a new position in shares of Ameris Bancorp (NASDAQ:ABCB) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 7,100 shares of the bank’s stock, valued at approximately $641,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Artemis Investment Management LLP bought a new position in Ameris Bancorp in the 4th quarter valued at $1,667,000. BIP Wealth LLC bought a new stake in shares of Ameris Bancorp during the second quarter worth $1,025,000. UBS Group AG increased its stake in shares of Ameris Bancorp by 10.7% in the fourth quarter. UBS Group AG now owns 271,568 shares of the bank’s stock valued at $20,169,000 after buying an additional 26,320 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Ameris Bancorp by 129.9% in the first quarter. Renaissance Technologies LLC now owns 44,069 shares of the bank’s stock valued at $3,437,000 after buying an additional 24,900 shares in the last quarter. Finally, Strs Ohio raised its holdings in shares of Ameris Bancorp by 631.4% in the fourth quarter. Strs Ohio now owns 100,200 shares of the bank’s stock valued at $7,442,000 after buying an additional 86,500 shares during the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Ameris Bancorp Trading Up 0.2%

Shares of ABCB opened at $85.58 on Friday. The stock’s fifty day simple moving average is $88.79 and its 200-day simple moving average is $84.53. The firm has a market capitalization of $5.74 billion, a PE ratio of 16.43 and a beta of 0.92. Ameris Bancorp has a 12-month low of $68.80 and a 12-month high of $93.22. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11.

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

Ameris Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Tuesday, June 30th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Ameris Bancorp’s dividend payout ratio is currently 14.47%.

Analyst Ratings Changes

Several research analysts recently issued reports on ABCB shares. Raymond James Financial downgraded shares of Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 1st. Morgan Stanley upgraded shares of Ameris Bancorp to an “overweight” rating in a research report on Wednesday, June 24th. Stephens set a $88.00 target price on shares of Ameris Bancorp in a research note on Monday, July 27th. DA Davidson upped their target price on shares of Ameris Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Finally, Truist Financial decreased their price target on shares of Ameris Bancorp from $92.00 to $90.00 and set a “hold” rating on the stock in a research note on Tuesday, July 28th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Ameris Bancorp presently has an average rating of “Hold” and a consensus price target 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.