10,377 Ameris Bancorp $ABCB Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its position in shares of Ameris Bancorp (NYSE:ABCB) by 43.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,304 shares of the bank’s stock after selling 10,377 shares during the quarter. State of Alaska Department of Revenue’s holdings in Ameris Bancorp were worth $1,057,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ABCB. Congress Asset Management Co. boosted its position in shares of Ameris Bancorp by 0.9% in the third quarter. Congress Asset Management Co. now owns 1,202,889 shares of the bank’s stock worth $95,654,000 after buying an additional 10,619 shares during the period. QRG Capital Management Inc. grew its holdings in shares of Ameris Bancorp by 10.7% during the second quarter. QRG Capital Management Inc. now owns 6,306 shares of the bank’s stock valued at $569,000 after buying an additional 610 shares in the last quarter. Engineers Gate Manager LP acquired a new position in Ameris Bancorp during the second quarter valued at $3,041,000. Integrated Wealth Concepts LLC acquired a new position in Ameris Bancorp during the second quarter valued at $91,000. Finally, NewEdge Advisors LLC raised its position in Ameris Bancorp by 2.0% during the second quarter. NewEdge Advisors LLC now owns 10,892 shares of the bank’s stock valued at $983,000 after buying an additional 212 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Ameris Bancorp Stock Up 1.9%

Ameris Bancorp stock opened at $80.73 on Wednesday. Ameris Bancorp has a twelve month low of $69.58 and a twelve month high of $93.22. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.02 and a current ratio of 1.04. The firm has a market cap of $5.42 billion, a PE ratio of 14.60 and a beta of 0.96. The firm’s 50 day moving average price is $83.41 and its two-hundred day moving average price is $85.37.

Ameris Bancorp (NYSE:ABCB) last released its earnings results on Thursday, July 23rd. The bank reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 10.62% and a net margin of 21.98%. During the same quarter in the previous year, the company earned $1.59 EPS. On average, research analysts predict that Ameris Bancorp will post 6.61 EPS for the current fiscal year.

Ameris Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 5th. Stockholders of record on Wednesday, September 30th were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. Ameris Bancorp’s dividend payout ratio is 14.47%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ABCB shares. DA Davidson increased their price objective on Ameris Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Truist Financial decreased their price objective on Ameris Bancorp from $90.00 to $84.00 and set a “hold” rating for the company in a research report on Friday, October 9th. Wall Street Zen cut Ameris Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, September 26th. Weiss Ratings initiated coverage on Ameris Bancorp in a research note on Wednesday, September 2nd. They set a “buy (b)” rating on the stock. Finally, Raymond James Financial downgraded Ameris Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 1st. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.67.

Ameris Bancorp Profile

Ameris Bancorp (NYSE: ABCB) is a bank holding company and the parent company of Ameris Bank, a full-service financial institution serving individuals, businesses and communities primarily across the southeastern United States.

Ameris Bank offers a range of banking products and services, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial and industrial lending, commercial real estate financing, treasury management and wealth management services.