Ameris Bancorp (NASDAQ:ABCB) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its holdings in Ameris Bancorp (NASDAQ:ABCB) by 50.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 845,390 shares of the bank’s stock after purchasing an additional 283,138 shares during the period. Victory Capital Management Inc. owned approximately 1.22% of Ameris Bancorp worth $44,848,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC acquired a new position in shares of Ameris Bancorp in the fourth quarter valued at approximately $31,000. Xponance Inc. acquired a new position in Ameris Bancorp during the 4th quarter worth approximately $211,000. Mackenzie Financial Corp acquired a new position in Ameris Bancorp during the 4th quarter worth approximately $218,000. Sequoia Financial Advisors LLC acquired a new position in Ameris Bancorp during the 4th quarter worth approximately $219,000. Finally, GW Henssler & Associates Ltd. acquired a new position in Ameris Bancorp during the 4th quarter worth approximately $235,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on ABCB shares. DA Davidson reiterated a “buy” rating on shares of Ameris Bancorp in a report on Monday, January 15th. Stephens reiterated an “equal weight” rating and set a $53.00 price target on shares of Ameris Bancorp in a report on Friday, April 26th. StockNews.com upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Truist Financial reduced their price objective on shares of Ameris Bancorp from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, April 1st. Finally, Piper Sandler boosted their price objective on shares of Ameris Bancorp from $55.00 to $57.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

Ameris Bancorp Stock Up 2.3 %

Shares of NASDAQ:ABCB opened at $49.82 on Monday. The company has a market capitalization of $3.44 billion, a PE ratio of 12.12 and a beta of 1.04. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.22. Ameris Bancorp has a twelve month low of $28.33 and a twelve month high of $53.99. The firm has a 50 day simple moving average of $46.79 and a 200-day simple moving average of $46.63.

Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings results on Friday, April 26th. The bank reported $1.10 EPS for the quarter, beating the consensus estimate of $1.04 by $0.06. Ameris Bancorp had a net margin of 18.06% and a return on equity of 8.62%. The firm had revenue of $267.27 million during the quarter, compared to the consensus estimate of $258.05 million. During the same quarter in the prior year, the firm earned $0.86 EPS. Ameris Bancorp’s revenue for the quarter was down .2% on a year-over-year basis. On average, equities analysts predict that Ameris Bancorp will post 4.56 EPS for the current fiscal year.

Ameris Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 8th. Investors of record on Sunday, March 31st were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.60 annualized dividend and a yield of 1.20%. Ameris Bancorp’s dividend payout ratio (DPR) is 14.60%.

Insider Activity at Ameris Bancorp

In related news, insider Jon S. Edwards sold 7,500 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $47.35, for a total value of $355,125.00. Following the completion of the sale, the insider now owns 59,691 shares in the company, valued at approximately $2,826,368.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.60% of the stock is owned by insiders.

Ameris Bancorp Profile

Ameris Bancorp operates as the bank holding company for Ameris Bank that provides range of banking services to retail and commercial customers. It operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division. The company offers commercial and retail checking, regular interest-bearing savings, money market, individual retirement, and certificates of deposit accounts.