Ameris Bancorp (NASDAQ:ABCB) Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Ameris Bancorp (NASDAQ:ABCB) by 16.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 173,391 shares of the bank’s stock after purchasing an additional 25,010 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Ameris Bancorp were worth $10,849,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of ABCB. Picton Mahoney Asset Management boosted its holdings in Ameris Bancorp by 2,436.8% in the fourth quarter. Picton Mahoney Asset Management now owns 482 shares of the bank’s stock worth $30,000 after purchasing an additional 463 shares during the period. R Squared Ltd bought a new position in shares of Ameris Bancorp in the 4th quarter worth about $51,000. Blue Trust Inc. lifted its position in shares of Ameris Bancorp by 56.1% in the 4th quarter. Blue Trust Inc. now owns 1,113 shares of the bank’s stock worth $69,000 after buying an additional 400 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Ameris Bancorp by 167.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the bank’s stock valued at $90,000 after buying an additional 896 shares during the period. Finally, Venturi Wealth Management LLC bought a new stake in shares of Ameris Bancorp during the 4th quarter valued at about $105,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Ameris Bancorp Stock Performance

Shares of NASDAQ ABCB opened at $61.73 on Friday. Ameris Bancorp has a 12-month low of $45.90 and a 12-month high of $74.56. The company has a market cap of $4.25 billion, a PE ratio of 11.85 and a beta of 0.91. The stock has a 50 day simple moving average of $57.65 and a 200-day simple moving average of $62.10. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11.

Ameris Bancorp (NASDAQ:ABCB) last announced its earnings results on Monday, April 28th. The bank reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.16. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%. The firm had revenue of $285.86 million for the quarter, compared to the consensus estimate of $276.06 million. During the same quarter in the previous year, the business earned $1.10 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities research analysts forecast that Ameris Bancorp will post 4.99 EPS for the current year.

Ameris Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Monday, March 31st were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Monday, March 31st. Ameris Bancorp’s dividend payout ratio is currently 14.81%.

Analysts Set New Price Targets

A number of brokerages have issued reports on ABCB. Stephens reissued an “equal weight” rating and issued a $63.00 target price on shares of Ameris Bancorp in a report on Tuesday, April 29th. Raymond James cut their price target on Ameris Bancorp from $71.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Piper Sandler started coverage on Ameris Bancorp in a research report on Friday, April 4th. They set an “overweight” rating and a $74.00 price objective for the company. Finally, Piper Sandler Companies increased their target price on Ameris Bancorp to $74.00 and gave the stock a “buy” rating in a research report on Monday, April 7th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Ameris Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $71.43.

Insider Activity at Ameris Bancorp

In related news, insider Douglas D. Strange bought 1,000 shares of the stock in a transaction on Wednesday, March 12th. The shares were purchased at an average price of $56.95 per share, with a total value of $56,950.00. Following the purchase, the insider now owns 19,403 shares in the company, valued at approximately $1,105,000.85. This represents a 5.43% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 5.40% of the company’s stock.

Ameris Bancorp Company Profile

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.