Ameris Bancorp (NASDAQ:ABCB) Shares Purchased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky increased its stake in shares of Ameris Bancorp (NASDAQ:ABCB) by 11.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 75,685 shares of the bank’s stock after buying an additional 7,562 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.11% of Ameris Bancorp worth $4,015,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. New York State Common Retirement Fund increased its holdings in Ameris Bancorp by 7.0% in the fourth quarter. New York State Common Retirement Fund now owns 276,624 shares of the bank’s stock valued at $14,675,000 after buying an additional 18,090 shares in the last quarter. Elizabeth Park Capital Advisors Ltd. acquired a new position in shares of Ameris Bancorp during the 4th quarter valued at about $2,087,000. Independent Advisor Alliance increased its position in Ameris Bancorp by 8.7% during the fourth quarter. Independent Advisor Alliance now owns 2,514,293 shares of the bank’s stock worth $133,383,000 after purchasing an additional 201,644 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Ameris Bancorp by 6.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 687,567 shares of the bank’s stock worth $26,396,000 after buying an additional 38,863 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Ameris Bancorp in the 4th quarter valued at about $219,000. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Stephens restated an “equal weight” rating and issued a $53.00 price target on shares of Ameris Bancorp in a report on Friday, April 26th. StockNews.com upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. Truist Financial cut their price objective on shares of Ameris Bancorp from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, April 1st. Finally, Piper Sandler increased their price target on Ameris Bancorp from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Ameris Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $52.00.

Ameris Bancorp Trading Up 2.2 %

Shares of ABCB opened at $47.84 on Tuesday. The stock’s 50-day moving average price is $47.92 and its 200 day moving average price is $48.49. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 11.64 and a beta of 1.06. Ameris Bancorp has a 12-month low of $32.74 and a 12-month high of $53.99.

Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings data on Friday, April 26th. The bank reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.06. Ameris Bancorp had a net margin of 18.06% and a return on equity of 8.62%. The firm had revenue of $267.27 million for the quarter, compared to analysts’ expectations of $258.05 million. During the same period in the prior year, the firm earned $0.86 earnings per share. The company’s quarterly revenue was down .2% compared to the same quarter last year. As a group, research analysts predict that Ameris Bancorp will post 4.59 earnings per share for the current year.

Ameris Bancorp 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.