VIRGINIA RETIREMENT SYSTEMS ET Al Invests $3.03 Million in Ameris Bancorp $ABCB

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Ameris Bancorp (NYSE:ABCB) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 33,523 shares of the bank’s stock, valued at approximately $3,026,000.

Several other hedge funds have also recently bought and sold shares of ABCB. GAMMA Investing LLC raised its holdings in Ameris Bancorp by 5.2% during the second quarter. GAMMA Investing LLC now owns 2,546 shares of the bank’s stock worth $230,000 after purchasing an additional 125 shares during the last quarter. Inspire Investing LLC grew its holdings in Ameris Bancorp by 2.0% in the fourth quarter. Inspire Investing LLC now owns 6,308 shares of the bank’s stock valued at $468,000 after purchasing an additional 125 shares during the last quarter. Maryland State Retirement & Pension System grew its holdings in Ameris Bancorp by 1.4% in the fourth quarter. Maryland State Retirement & Pension System now owns 9,365 shares of the bank’s stock valued at $696,000 after purchasing an additional 133 shares during the last quarter. HighTower Advisors LLC increased its position in shares of Ameris Bancorp by 1.6% in the fourth quarter. HighTower Advisors LLC now owns 9,054 shares of the bank’s stock valued at $672,000 after buying an additional 143 shares in the last quarter. Finally, Lido Advisors LLC increased its position in shares of Ameris Bancorp by 2.6% in the fourth quarter. Lido Advisors LLC now owns 6,456 shares of the bank’s stock valued at $476,000 after buying an additional 162 shares in the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.

Ameris Bancorp Stock Up 0.7%

Shares of NYSE:ABCB opened at $84.61 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $5.68 billion, a P/E ratio of 15.30 and a beta of 0.91. Ameris Bancorp has a 52-week low of $68.80 and a 52-week high of $93.22. The stock’s fifty day simple moving average is $87.91 and its 200-day simple moving average is $84.60.

Ameris Bancorp (NYSE:ABCB) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $1.60 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.06). Ameris Bancorp had a return on equity of 10.62% and a net margin of 21.98%.The company had revenue of $317.78 million for the quarter, compared to analysts’ expectations of $323.78 million. During the same quarter in the prior year, the business posted $1.59 EPS. As a group, equities research analysts forecast that Ameris Bancorp will post 6.58 earnings per share for the current fiscal year.

Ameris Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. Ameris Bancorp’s payout ratio is 14.47%.

Analyst Ratings Changes

ABCB has been the topic of several recent research reports. Morgan Stanley upgraded shares of Ameris Bancorp to an “overweight” rating in a research report on Wednesday, June 24th. Piper Sandler dropped their target price on shares of Ameris Bancorp from $96.00 to $92.00 and set a “neutral” rating for the company in a report on Monday, July 27th. Stephens set a $88.00 price target on shares of Ameris Bancorp in a report on Monday, July 27th. Truist Financial lowered their price target on shares of Ameris Bancorp from $92.00 to $90.00 and set a “hold” rating on the stock in a research report on Tuesday, July 28th. Finally, Raymond James Financial cut shares of Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 1st. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Ameris Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $91.67.

About Ameris Bancorp

Ameris Bancorp is the bank holding company for Ameris Bank, a full-service community bank headquartered in Atlanta, Georgia. Through its banking subsidiary, the company provides financial products and services to individuals, families, businesses and institutions.

Ameris Bank offers deposit accounts, commercial and consumer loans, residential mortgages, home equity financing, treasury management and payment services. The bank also provides wealth management, investment and insurance-related services, along with digital and mobile banking capabilities.

Founded in 1971, Ameris Bank serves communities primarily across the southeastern United States, including Georgia, Alabama, Florida, South Carolina and North Carolina.