Ameris Bancorp (NASDAQ:ABCB) Shares Sold by Mendon Capital Advisors Corp

Mendon Capital Advisors Corp cut its stake in Ameris Bancorp (NASDAQ:ABCB) by 50.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,000 shares of the bank’s stock after selling 25,000 shares during the period. Ameris Bancorp makes up approximately 1.1% of Mendon Capital Advisors Corp’s investment portfolio, making the stock its 20th biggest position. Mendon Capital Advisors Corp’s holdings in Ameris Bancorp were worth $1,259,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. 1620 Investment Advisors Inc. bought a new position in Ameris Bancorp during the 2nd quarter valued at $33,000. GAMMA Investing LLC boosted its stake in Ameris Bancorp by 66.1% during the second quarter. GAMMA Investing LLC now owns 819 shares of the bank’s stock valued at $41,000 after buying an additional 326 shares in the last quarter. CWM LLC grew its holdings in Ameris Bancorp by 33.5% during the second quarter. CWM LLC now owns 1,310 shares of the bank’s stock worth $66,000 after acquiring an additional 329 shares during the period. Innealta Capital LLC bought a new stake in Ameris Bancorp in the second quarter worth about $143,000. Finally, SG Americas Securities LLC acquired a new stake in Ameris Bancorp in the 1st quarter valued at about $190,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Truist Financial lifted their price objective on shares of Ameris Bancorp from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Stephens upped their price target on Ameris Bancorp from $52.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. DA Davidson raised their price objective on Ameris Bancorp from $61.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods lifted their target price on Ameris Bancorp from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Ameris Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Ameris Bancorp Stock Down 3.4 %

ABCB stock opened at $60.29 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.05 and a quick ratio of 1.03. The firm has a market capitalization of $4.17 billion, a P/E ratio of 14.67 and a beta of 1.02. Ameris Bancorp has a 52-week low of $34.26 and a 52-week high of $65.40. The company’s 50 day simple moving average is $59.88 and its 200-day simple moving average is $52.85.

Ameris Bancorp (NASDAQ:ABCB) last released its earnings results on Thursday, July 25th. The bank reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.03. The company had revenue of $436.03 million during the quarter, compared to analyst estimates of $273.67 million. Ameris Bancorp had a return on equity of 8.97% and a net margin of 19.28%. During the same quarter in the prior year, the company earned $0.91 earnings per share. As a group, equities research analysts anticipate that Ameris Bancorp will post 4.82 EPS for the current year.

Ameris Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 30th will be given a dividend of $0.15 per share. The ex-dividend date is Monday, September 30th. This represents a $0.60 dividend on an annualized basis and a yield of 1.00%. Ameris Bancorp’s payout ratio is presently 14.60%.

About Ameris Bancorp

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.