Ameris Bancorp $ABCB Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its holdings in shares of Ameris Bancorp (NASDAQ:ABCB) by 15.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,075 shares of the bank’s stock after selling 7,073 shares during the quarter. Intech Investment Management LLC owned approximately 0.06% of Ameris Bancorp worth $2,902,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Sound Income Strategies LLC acquired a new position in shares of Ameris Bancorp during the 4th quarter worth approximately $29,000. Measured Wealth Private Client Group LLC acquired a new position in Ameris Bancorp in the 3rd quarter valued at $45,000. Danske Bank A S acquired a new position in Ameris Bancorp in the 3rd quarter valued at $51,000. Aster Capital Management DIFC Ltd raised its stake in Ameris Bancorp by 395.4% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 748 shares of the bank’s stock valued at $55,000 after purchasing an additional 597 shares during the last quarter. Finally, Torren Management LLC acquired a new position in Ameris Bancorp in the 4th quarter valued at $76,000. 91.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on ABCB. Truist Financial increased their price objective on Ameris Bancorp from $85.00 to $89.00 and gave the company a “hold” rating in a research note on Monday, April 27th. Stephens increased their price objective on Ameris Bancorp from $87.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, April 27th. Raymond James Financial reissued an “outperform” rating and issued a $92.00 price objective on shares of Ameris Bancorp in a research note on Monday, April 27th. Finally, DA Davidson increased their price objective on Ameris Bancorp from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $90.17.

Ameris Bancorp Stock Up 1.8%

Shares of ABCB opened at $84.67 on Wednesday. Ameris Bancorp has a 52-week low of $59.54 and a 52-week high of $87.99. The company has a market capitalization of $5.70 billion, a PE ratio of 16.25 and a beta of 0.93. The stock has a fifty day simple moving average of $82.55 and a two-hundred day simple moving average of $79.72. 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 issued its earnings results on Thursday, April 23rd. The bank reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.The business had revenue of $314.36 million during the quarter, compared to the consensus estimate of $309.58 million. During the same period last year, the company earned $1.28 EPS. As a group, 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, April 6th. Shareholders of record on Tuesday, March 31st were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. Ameris Bancorp’s dividend payout ratio (DPR) is 12.58%.

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.