US Bancorp DE Buys 1,868 Shares of Ameris Bancorp (NASDAQ:ABCB)

US Bancorp DE increased its position in Ameris Bancorp (NASDAQ:ABCB) by 3,396.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,923 shares of the bank’s stock after acquiring an additional 1,868 shares during the quarter. US Bancorp DE’s holdings in Ameris Bancorp were worth $120,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Wealth Enhancement Advisory Services LLC boosted its stake in Ameris Bancorp by 2.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 12,503 shares of the bank’s stock worth $780,000 after buying an additional 258 shares during the period. GAMMA Investing LLC increased its stake in Ameris Bancorp by 38.0% in the third quarter. GAMMA Investing LLC now owns 1,130 shares of the bank’s stock worth $71,000 after purchasing an additional 311 shares during the period. CWM LLC lifted its position in shares of 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 purchasing an additional 329 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Ameris Bancorp by 1.8% during the second quarter. Arizona State Retirement System now owns 18,359 shares of the bank’s stock valued at $924,000 after purchasing an additional 331 shares during the period. Finally, Blue Trust Inc. increased its position in shares of Ameris Bancorp by 249.5% during the third quarter. Blue Trust Inc. now owns 713 shares of the bank’s stock worth $44,000 after acquiring an additional 509 shares during the period. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Ameris Bancorp

In other news, Director Robert Dale Ezzell sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $69.91, for a total value of $559,280.00. Following the completion of the sale, the director now directly owns 27,444 shares in the company, valued at approximately $1,918,610.04. The trade was a 22.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.50% of the company’s stock.

Ameris Bancorp Stock Up 0.0 %

Ameris Bancorp stock opened at $69.63 on Friday. Ameris Bancorp has a twelve month low of $40.71 and a twelve month high of $72.68. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average of $63.41 and a two-hundred day moving average of $56.79. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of 14.51 and a beta of 1.01.

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

Ameris Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.60 annualized dividend and a dividend yield of 0.86%. Ameris Bancorp’s dividend payout ratio is presently 12.50%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. DA Davidson boosted their price objective on shares of Ameris Bancorp from $61.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Stephens lifted 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. Keefe, Bruyette & Woods raised their price objective on shares of Ameris Bancorp from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Truist Financial cut their price objective on Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Finally, Raymond James upgraded Ameris Bancorp from a “market perform” rating to an “outperform” rating and set a $67.00 price objective for the company in a research note on Monday, October 28th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.67.

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.