541,995 Shares in Ameris Bancorp $ABCB Acquired by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. bought a new position in Ameris Bancorp (NASDAQ:ABCB) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 541,995 shares of the bank’s stock, valued at approximately $42,270,000.

A number of other hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in Ameris Bancorp by 9.5% during the first quarter. Royal Bank of Canada now owns 29,288 shares of the bank’s stock valued at $1,687,000 after buying an additional 2,546 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Ameris Bancorp by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,181 shares of the bank’s stock valued at $2,256,000 after acquiring an additional 1,703 shares in the last quarter. NewEdge Advisors LLC boosted 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 valued at $671,000 after acquiring an additional 3,129 shares during the last quarter. United Services Automobile Association purchased a new position in shares of Ameris Bancorp during the first quarter worth about $243,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Ameris Bancorp by 7.9% during the first 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 purchasing an additional 13,633 shares in the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Ameris Bancorp Stock Up 0.1%

ABCB stock opened at $87.65 on Monday. The business’s 50-day moving average price is $84.97 and its 200-day moving average price is $80.95. The stock has a market cap of $5.90 billion, a P/E ratio of 16.82 and a beta of 0.91. Ameris Bancorp has a twelve month low of $60.53 and a twelve month high of $90.00. 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 (NASDAQ:ABCB) last released its earnings results on Thursday, April 23rd. The bank reported $1.63 EPS for the quarter, topping the consensus estimate of $1.54 by $0.09. The firm had revenue of $314.36 million for the quarter, compared to the consensus estimate 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 firm earned $1.28 earnings per share. On average, equities research analysts forecast that Ameris Bancorp will post 4.99 EPS for the current year.

Ameris Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Tuesday, June 30th will be issued 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 is Tuesday, June 30th. Ameris Bancorp’s dividend payout ratio is 12.58%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ABCB shares. DA Davidson raised their target price 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. Truist Financial increased their price target on shares of Ameris Bancorp from $85.00 to $89.00 and gave the stock a “hold” rating in a report on Monday, April 27th. Stephens raised their price objective 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. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $92.00 target price on shares of Ameris Bancorp 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 currently has an average rating of “Moderate Buy” and an average target price of $90.17.

Ameris Bancorp Company 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.