Xponance Inc. Purchases 276 Shares of Ameris Bancorp (NASDAQ:ABCB)

Xponance Inc. boosted its position in Ameris Bancorp (NASDAQ:ABCB) by 5.8% in the 1st quarter, Holdings Channel reports. The firm owned 5,001 shares of the bank’s stock after buying an additional 276 shares during the quarter. Xponance Inc.’s holdings in Ameris Bancorp were worth $288,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Captrust Financial Advisors lifted its stake in Ameris Bancorp by 4.6% in the fourth quarter. Captrust Financial Advisors now owns 3,975 shares of the bank’s stock worth $249,000 after purchasing an additional 175 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in Ameris Bancorp by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,887 shares of the bank’s stock worth $431,000 after purchasing an additional 218 shares during the last quarter. Synovus Financial Corp lifted its stake in Ameris Bancorp by 1.7% in the fourth quarter. Synovus Financial Corp now owns 14,020 shares of the bank’s stock worth $877,000 after purchasing an additional 235 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Ameris Bancorp by 4.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,174 shares of the bank’s stock worth $324,000 after purchasing an additional 238 shares during the last quarter. Finally, KBC Group NV lifted its stake in Ameris Bancorp by 8.8% in the first quarter. KBC Group NV now owns 3,251 shares of the bank’s stock worth $187,000 after purchasing an additional 264 shares during the last quarter. Institutional investors own 91.64% of the company’s stock.

Wall Street Analyst Weigh In

ABCB has been the topic of a number of research reports. Piper Sandler Companies raised their target price on shares of Ameris Bancorp to $74.00 and gave the stock a “buy” rating in a research report on Monday, April 7th. Stephens reaffirmed an “equal weight” rating and set a $63.00 target price on shares of Ameris Bancorp in a research report on Tuesday, April 29th. Piper Sandler initiated coverage on shares of Ameris Bancorp in a research report on Friday, April 4th. They set an “overweight” rating and a $74.00 target price on the stock. Finally, Raymond James Financial reduced their target price on shares of Ameris Bancorp from $71.00 to $65.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $71.43.

Ameris Bancorp Stock Performance

Shares of NASDAQ:ABCB opened at $67.34 on Friday. The firm has a market cap of $4.64 billion, a PE ratio of 12.92 and a beta of 0.93. The firm’s 50 day simple moving average is $63.58 and its 200-day simple moving average is $61.32. Ameris Bancorp has a one year low of $48.27 and a one year high of $74.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02.

Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings data on Monday, April 28th. The bank reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.16. The company had revenue of $285.86 million for the quarter, compared to analyst estimates of $276.06 million. Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. Ameris Bancorp’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company posted $1.10 earnings per share. As a group, equities analysts predict that Ameris Bancorp will post 4.99 EPS for the current year.

Ameris Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 7th. Investors of record on Monday, June 30th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Monday, June 30th. Ameris Bancorp’s payout ratio is 14.81%.

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.