Ameris Bancorp $ABCB Shares Bought by UBS Group AG

UBS Group AG grew its holdings in Ameris Bancorp (NASDAQ:ABCB) by 10.7% during the fourth quarter, HoldingsChannel reports. The firm owned 271,568 shares of the bank’s stock after acquiring an additional 26,320 shares during the period. UBS Group AG’s holdings in Ameris Bancorp were worth $20,169,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ABCB. Impax Asset Management Group plc acquired a new stake in shares of Ameris Bancorp in the fourth quarter valued at approximately $7,427,000. Concurrent Investment Advisors LLC boosted its stake in Ameris Bancorp by 8.7% during the fourth quarter. Concurrent Investment Advisors LLC now owns 8,836 shares of the bank’s stock worth $656,000 after buying an additional 709 shares during the last quarter. HB Wealth Management LLC grew its holdings in Ameris Bancorp by 5.3% in the 4th quarter. HB Wealth Management LLC now owns 6,747 shares of the bank’s stock valued at $501,000 after buying an additional 342 shares in the last quarter. M&T Bank Corp acquired a new stake in shares of Ameris Bancorp in the 4th quarter worth $8,262,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of Ameris Bancorp by 1.1% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 87,364 shares of the bank’s stock worth $6,492,000 after acquiring an additional 942 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Ameris Bancorp Price Performance

ABCB opened at $85.04 on Tuesday. The firm has a market cap of $5.81 billion, a price-to-earnings ratio of 16.32 and a beta of 0.93. Ameris Bancorp has a 12-month low of $59.54 and a 12-month high of $87.99. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The stock’s 50-day moving average price is $80.31 and its 200 day moving average price is $78.55.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. The firm had revenue of $314.36 million during the quarter, compared to analysts’ expectations of $309.58 million. Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. During the same quarter in the previous year, the business posted $1.28 earnings per share. As a group, sell-side analysts expect that Ameris Bancorp will post 4.99 earnings per share for the current year.

Ameris Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 6th. Stockholders of record on Tuesday, March 31st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, March 31st. Ameris Bancorp’s dividend payout ratio is currently 12.58%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Ameris Bancorp from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. Raymond James Financial reaffirmed an “outperform” rating and set a $92.00 target price on shares of Ameris Bancorp in a research note on Monday, April 27th. Truist Financial boosted their target price on shares of Ameris Bancorp from $85.00 to $89.00 and gave the company a “hold” rating in a report on Monday, April 27th. DA Davidson increased their price target on shares of Ameris Bancorp from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Finally, Stephens lifted their price target on shares of Ameris Bancorp from $87.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, April 27th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $90.17.

Ameris Bancorp 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.