CSM Advisors LLC Raises Holdings in Ameris Bancorp $ABCB

CSM Advisors LLC increased its holdings in Ameris Bancorp (NASDAQ:ABCB) by 13.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 101,012 shares of the bank’s stock after purchasing an additional 12,278 shares during the quarter. CSM Advisors LLC’s holdings in Ameris Bancorp were worth $7,404,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. boosted its position in Ameris Bancorp by 3.0% during the 3rd quarter. Envestnet Portfolio Solutions Inc. now owns 5,231 shares of the bank’s stock valued at $384,000 after acquiring an additional 153 shares in the last quarter. Inspire Investing LLC raised its position in shares of Ameris Bancorp by 3.0% in the 3rd quarter. Inspire Investing LLC now owns 6,183 shares of the bank’s stock worth $453,000 after acquiring an additional 181 shares in the last quarter. Covestor Ltd lifted its stake in shares of Ameris Bancorp by 51.5% during the 3rd quarter. Covestor Ltd now owns 547 shares of the bank’s stock worth $40,000 after purchasing an additional 186 shares during the last quarter. Journey Strategic Wealth LLC lifted its stake in shares of Ameris Bancorp by 5.0% during the 2nd quarter. Journey Strategic Wealth LLC now owns 4,095 shares of the bank’s stock worth $265,000 after purchasing an additional 194 shares during the last quarter. Finally, Verdence Capital Advisors LLC boosted its position in Ameris Bancorp by 2.0% during the third quarter. Verdence Capital Advisors LLC now owns 9,730 shares of the bank’s stock valued at $724,000 after purchasing an additional 195 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. DA Davidson set a $94.00 target price on shares of Ameris Bancorp in a report on Monday, February 2nd. Truist Financial raised their price target on shares of Ameris Bancorp from $83.00 to $86.00 and gave the company a “hold” rating in a report on Monday, February 2nd. Stephens lifted their price objective on shares of Ameris Bancorp from $79.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Monday, February 2nd. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Ameris Bancorp from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Monday, February 2nd. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.50.

Ameris Bancorp Stock Down 0.3%

Ameris Bancorp stock opened at $75.10 on Friday. Ameris Bancorp has a 1-year low of $48.27 and a 1-year high of $87.98. The business has a fifty day moving average price of $80.42 and a 200-day moving average price of $76.50. 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 capitalization of $5.10 billion, a price-to-earnings ratio of 14.41 and a beta of 0.97.

Ameris Bancorp (NASDAQ:ABCB) last announced its earnings results on Thursday, January 29th. The bank reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.03. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.The company had revenue of $309.92 million for the quarter, compared to analyst estimates of $310.48 million. During the same period in the prior year, the company posted $1.38 EPS. Equities research analysts forecast that Ameris Bancorp will post 4.99 EPS for the current fiscal year.

Ameris Bancorp Announces Dividend

The business also recently disclosed 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. The ex-dividend date was Wednesday, December 31st. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. Ameris Bancorp’s dividend payout ratio is 13.33%.

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.