Corebridge Financial Inc. Has $1.98 Million Stake in Ameris Bancorp $ABCB

Corebridge Financial Inc. lowered its position in Ameris Bancorp (NASDAQ:ABCB) by 1.9% during the first quarter, Holdings Channel reports. The firm owned 34,340 shares of the bank’s stock after selling 670 shares during the period. Corebridge Financial Inc.’s holdings in Ameris Bancorp were worth $1,977,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Captrust Financial Advisors lifted its position in shares of Ameris Bancorp by 4.6% in the 4th 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 period. KBC Group NV lifted its position in shares of Ameris Bancorp by 8.8% during the 1st quarter. KBC Group NV now owns 3,251 shares of the bank’s stock valued at $187,000 after acquiring an additional 264 shares during the period. Xponance Inc. lifted its position in shares of Ameris Bancorp by 5.8% during the 1st quarter. Xponance Inc. now owns 5,001 shares of the bank’s stock valued at $288,000 after acquiring an additional 276 shares during the period. HB Wealth Management LLC lifted its position in shares of Ameris Bancorp by 5.7% during the 1st quarter. HB Wealth Management LLC now owns 5,941 shares of the bank’s stock valued at $342,000 after acquiring an additional 319 shares during the period. Finally, Versant Capital Management Inc lifted its position in shares of Ameris Bancorp by 84.1% during the 1st quarter. Versant Capital Management Inc now owns 731 shares of the bank’s stock valued at $42,000 after acquiring an additional 334 shares during the period. Institutional investors and hedge funds own 91.64% of the company’s stock.

Analysts Set New Price Targets

Separately, DA Davidson set a $81.00 target price on shares of Ameris Bancorp and gave the company a “buy” rating in a research report on Wednesday, July 30th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Ameris Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.14.

Ameris Bancorp Stock Down 0.6%

Ameris Bancorp stock opened at $72.81 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. Ameris Bancorp has a 12-month low of $48.27 and a 12-month high of $74.56. The firm’s fifty day moving average is $68.33 and its 200 day moving average is $62.38. The company has a market capitalization of $4.99 billion, a PE ratio of 13.98 and a beta of 0.97.

Ameris Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Monday, June 30th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Monday, June 30th. Ameris Bancorp’s payout ratio is 14.08%.

About Ameris Bancorp

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.