Quantinno Capital Management LP Boosts Position in Ameris Bancorp $ABCB

Quantinno Capital Management LP boosted its stake in shares of Ameris Bancorp (NASDAQ:ABCB) by 148.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 34,350 shares of the bank’s stock after purchasing an additional 20,526 shares during the period. Quantinno Capital Management LP’s holdings in Ameris Bancorp were worth $2,679,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Sound Income Strategies LLC bought a new position in Ameris Bancorp in the 4th quarter worth about $29,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Ameris Bancorp during the third quarter valued at approximately $45,000. Danske Bank A S purchased a new stake in shares of Ameris Bancorp in the third quarter valued at approximately $51,000. Torren Management LLC purchased a new stake in shares of Ameris Bancorp in the fourth quarter valued at approximately $76,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of Ameris Bancorp by 316.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,059 shares of the bank’s stock valued at $79,000 after purchasing an additional 805 shares during the period. 91.60% of the stock is owned by hedge funds and other institutional investors.

Ameris Bancorp Trading Up 0.1%

Shares of NASDAQ ABCB opened at $87.79 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. The stock has a market capitalization of $5.91 billion, a P/E ratio of 16.85 and a beta of 0.92. Ameris Bancorp has a 1-year low of $65.98 and a 1-year high of $93.22. The business has a fifty day moving average price of $88.47 and a 200 day moving average price of $83.96.

Ameris Bancorp (NASDAQ:ABCB) last posted its earnings results on Thursday, July 23rd. The bank reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.06). The company had revenue of $317.78 million during the quarter, compared to analysts’ expectations of $323.78 million. Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. During the same quarter last year, the firm earned $1.59 EPS. Equities research analysts expect that Ameris Bancorp will post 4.99 EPS for the current fiscal year.

Ameris Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Tuesday, June 30th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Ameris Bancorp’s dividend payout ratio (DPR) is currently 14.47%.

Analyst Upgrades and Downgrades

Several research analysts have commented on ABCB shares. Raymond James Financial downgraded Ameris Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 1st. Stephens set a $88.00 price target on Ameris Bancorp in a research report on Monday, July 27th. Piper Sandler decreased their price objective on Ameris Bancorp from $96.00 to $92.00 and set a “neutral” rating for the company in a report on Monday, July 27th. Truist Financial dropped their target price on shares of Ameris Bancorp from $92.00 to $90.00 and set a “hold” rating on the stock in a report on Tuesday, July 28th. Finally, Morgan Stanley raised shares of Ameris Bancorp to an “overweight” rating in a research report on Wednesday, June 24th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Ameris Bancorp currently has a consensus rating of “Hold” and an average target price of $91.67.

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.