Point72 Asia Singapore Pte. Ltd. Has $165,000 Position in Ameris Bancorp (NASDAQ:ABCB)

Point72 Asia Singapore Pte. Ltd. cut its stake in Ameris Bancorp (NASDAQ:ABCB) by 37.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,287 shares of the bank’s stock after selling 2,008 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Ameris Bancorp were worth $165,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ABCB. Norges Bank bought a new position in Ameris Bancorp in the 4th quarter valued at about $39,787,000. Corient Private Wealth LLC grew its position in shares of Ameris Bancorp by 71.5% in the fourth quarter. Corient Private Wealth LLC now owns 11,546 shares of the bank’s stock valued at $613,000 after purchasing an additional 4,813 shares during the last quarter. Trexquant Investment LP acquired a new stake in Ameris Bancorp during the 4th quarter worth approximately $205,000. Hsbc Holdings PLC boosted its stake in Ameris Bancorp by 4,193.6% in the 4th quarter. Hsbc Holdings PLC now owns 229,408 shares of the bank’s stock valued at $12,163,000 after purchasing an additional 224,065 shares during the period. Finally, TFO Wealth Partners LLC grew its holdings in Ameris Bancorp by 39,583.3% in the 4th quarter. TFO Wealth Partners LLC now owns 4,762 shares of the bank’s stock valued at $253,000 after buying an additional 4,750 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Ameris Bancorp Stock Down 0.2 %

Shares of ABCB opened at $61.32 on Friday. The firm has a 50 day simple moving average of $59.85 and a two-hundred day simple moving average of $52.54. The company has a market cap of $4.24 billion, a P/E ratio of 14.92 and a beta of 1.02. Ameris Bancorp has a one year low of $34.26 and a one year high of $65.40. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.05 and a quick ratio of 1.03.

Ameris Bancorp (NASDAQ:ABCB) last issued its earnings results on Thursday, July 25th. The bank reported $1.17 EPS for the quarter, topping the consensus estimate of $1.14 by $0.03. The firm had revenue of $436.03 million during the quarter, compared to the consensus estimate 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 previous year, the firm earned $0.91 earnings per share. Research analysts forecast that Ameris Bancorp will post 4.82 EPS for the current fiscal year.

Ameris Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Investors 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 0.98%. Ameris Bancorp’s dividend payout ratio is currently 14.60%.

Analysts Set New Price Targets

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

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.