Point72 Asset Management L.P. Grows Position in Ameris Bancorp (NASDAQ:ABCB)

Point72 Asset Management L.P. raised its position in Ameris Bancorp (NASDAQ:ABCB) by 135.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 115,194 shares of the bank’s stock after purchasing an additional 66,287 shares during the quarter. Point72 Asset Management L.P.’s holdings in Ameris Bancorp were worth $7,187,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of Ameris Bancorp by 66.1% during the second quarter. GAMMA Investing LLC now owns 819 shares of the bank’s stock worth $41,000 after purchasing an additional 326 shares during the last quarter. CWM LLC lifted its holdings in Ameris Bancorp by 33.5% during the 2nd quarter. CWM LLC now owns 1,310 shares of the bank’s stock valued at $66,000 after buying an additional 329 shares in the last quarter. SG Americas Securities LLC boosted its position in Ameris Bancorp by 461.0% in the 2nd quarter. SG Americas Securities LLC now owns 21,992 shares of the bank’s stock valued at $1,107,000 after buying an additional 18,072 shares during the period. Summit Global Investments grew its stake in Ameris Bancorp by 10.2% in the 2nd quarter. Summit Global Investments now owns 15,066 shares of the bank’s stock worth $759,000 after acquiring an additional 1,394 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Ameris Bancorp during the second quarter worth approximately $33,000. Institutional investors own 91.64% of the company’s stock.

Wall Street Analyst Weigh In

ABCB has been the subject of a number of research reports. Raymond James upgraded Ameris Bancorp from a “market perform” rating to an “outperform” rating and set a $67.00 price target for the company in a report on Monday, October 28th. Truist Financial cut their price target on Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. StockNews.com raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Keefe, Bruyette & Woods boosted their price target on shares of Ameris Bancorp from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Stephens increased their price objective on shares of Ameris Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.17.

Insiders Place Their Bets

In related news, Director Robert Dale Ezzell sold 8,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $69.91, for a total value of $559,280.00. Following the completion of the transaction, the director now directly owns 27,444 shares of the company’s stock, valued at $1,918,610.04. This trade represents a 22.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.50% of the company’s stock.

Ameris Bancorp Stock Up 0.8 %

Shares of Ameris Bancorp stock opened at $69.39 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.13. The company has a market cap of $4.79 billion, a P/E ratio of 14.46 and a beta of 1.03. The firm’s 50 day moving average price is $65.90 and its 200-day moving average price is $59.04. Ameris Bancorp has a 52-week low of $44.00 and a 52-week high of $74.56.

Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings results on Thursday, October 24th. The bank reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.13. Ameris Bancorp had a net margin of 20.08% and a return on equity of 9.18%. The business had revenue of $424.86 million for the quarter, compared to analyst estimates of $290.60 million. During the same period in the previous year, the company earned $1.16 earnings per share. On average, sell-side analysts predict that Ameris Bancorp will post 4.83 EPS for the current fiscal year.

Ameris Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend was Monday, September 30th. Ameris Bancorp’s dividend payout ratio (DPR) is presently 12.50%.

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.