Sei Investments Co. Has $10.41 Million Stock Holdings in Ameris Bancorp $ABCB

Sei Investments Co. lifted its position in Ameris Bancorp (NASDAQ:ABCB) by 22.9% during the 1st quarter, Holdings Channel reports. The firm owned 133,444 shares of the bank’s stock after buying an additional 24,884 shares during the quarter. Sei Investments Co.’s holdings in Ameris Bancorp were worth $10,407,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Sound Income Strategies LLC acquired a new stake in shares of Ameris Bancorp during the 4th quarter worth about $29,000. Measured Wealth Private Client Group LLC acquired a new position in Ameris Bancorp in the third quarter valued at about $45,000. Danske Bank A S acquired a new position in Ameris Bancorp in the third quarter valued at about $51,000. Torren Management LLC bought a new stake in Ameris Bancorp during the fourth quarter worth about $76,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in Ameris Bancorp by 316.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,059 shares of the bank’s stock worth $79,000 after buying an additional 805 shares during the last quarter. Institutional investors own 91.60% of the company’s stock.

Ameris Bancorp Stock Down 0.2%

Shares of NASDAQ:ABCB opened at $87.41 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The firm has a market cap of $5.88 billion, a P/E ratio of 16.78 and a beta of 0.91. Ameris Bancorp has a 12 month low of $65.43 and a 12 month high of $93.22. The company’s 50-day moving average price is $88.11 and its two-hundred day moving average price is $83.62.

Ameris Bancorp (NASDAQ:ABCB) last announced its earnings results on Thursday, July 23rd. The bank reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.06). The company had revenue of $317.78 million for the quarter, compared to analyst estimates of $323.78 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 company posted $1.59 earnings per share. As a group, research analysts forecast that Ameris Bancorp will post 4.99 EPS for the current fiscal year.

Ameris Bancorp Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Stephens set a $88.00 price objective on shares of Ameris Bancorp in a report on Monday, July 27th. Piper Sandler reduced their target price on Ameris Bancorp from $96.00 to $92.00 and set a “neutral” rating on the stock in a report on Monday, July 27th. Morgan Stanley upgraded Ameris Bancorp to an “overweight” rating in a research report on Wednesday, June 24th. DA Davidson raised their price target on Ameris Bancorp from $98.00 to $100.00 and gave the company a “buy” rating in a report on Monday, July 27th. Finally, Raymond James Financial downgraded Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 1st. Three 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 company currently has an average rating of “Hold” and an average target price of $91.67.

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.