New Age Alpha Advisors LLC Sells 16,281 Shares of Ameris Bancorp $ABCB

New Age Alpha Advisors LLC lowered its position in shares of Ameris Bancorp (NASDAQ:ABCB) by 22.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 55,424 shares of the bank’s stock after selling 16,281 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Ameris Bancorp were worth $4,116,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of ABCB. Royal Bank of Canada lifted its position in shares of Ameris Bancorp by 9.5% during the 1st quarter. Royal Bank of Canada now owns 29,288 shares of the bank’s stock worth $1,687,000 after buying an additional 2,546 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Ameris Bancorp by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,181 shares of the bank’s stock worth $2,256,000 after buying an additional 1,703 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Ameris Bancorp by 36.7% during the 1st quarter. NewEdge Advisors LLC now owns 11,651 shares of the bank’s stock worth $671,000 after buying an additional 3,129 shares in the last quarter. United Services Automobile Association bought a new position in shares of Ameris Bancorp during the 1st quarter worth approximately $243,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Ameris Bancorp by 7.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 187,024 shares of the bank’s stock worth $10,767,000 after buying an additional 13,633 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

Analyst Ratings Changes

ABCB has been the topic of several recent analyst reports. Stephens lifted their target price on shares of Ameris Bancorp from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, April 27th. Keefe, Bruyette & Woods raised their price target 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. DA Davidson raised their price target on shares of Ameris Bancorp from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Truist Financial raised their price target on shares of Ameris Bancorp from $85.00 to $89.00 and gave the stock a “hold” rating in a research note on Monday, April 27th. Finally, Raymond James Financial restated an “outperform” rating and set a $92.00 price target on shares of Ameris Bancorp in a research note on Monday, April 27th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Ameris Bancorp has an average rating of “Moderate Buy” and a consensus target price of $90.17.

Ameris Bancorp Trading Up 0.0%

Shares of ABCB stock opened at $84.72 on Tuesday. The company has a 50 day moving average of $81.57 and a 200-day moving average of $79.33. 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 $59.54 and a 12-month high of $87.99. The firm has a market cap of $5.70 billion, a P/E ratio of 16.26 and a beta of 0.93.

Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.09. Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. The company had revenue of $314.36 million during the quarter, compared to analyst estimates of $309.58 million. During the same quarter last year, the business posted $1.28 EPS. Sell-side analysts anticipate that Ameris Bancorp will post 4.99 earnings per share for the current year.

Ameris Bancorp Announces Dividend

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

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.