Mirae Asset Global Investments Co. Ltd. Buys 619 Shares of Ameris Bancorp (NASDAQ:ABCB)

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Ameris Bancorp (NASDAQ:ABCB) by 2.1% during the 4th quarter, Holdings Channel reports. The fund owned 30,112 shares of the bank’s stock after purchasing an additional 619 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Ameris Bancorp were worth $1,597,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ABCB. First Eagle Investment Management LLC boosted its position in shares of Ameris Bancorp by 81.7% in the 3rd quarter. First Eagle Investment Management LLC now owns 178,961 shares of the bank’s stock worth $6,870,000 after purchasing an additional 80,466 shares in the last quarter. Prospector Partners LLC acquired a new stake in shares of Ameris Bancorp in the 3rd quarter worth $5,924,000. Charles Schwab Investment Management Inc. boosted 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 purchasing an additional 38,863 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new stake in shares of Ameris Bancorp in the 3rd quarter worth $1,466,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Ameris Bancorp in the 3rd quarter worth $1,151,000. Institutional investors own 91.64% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ABCB shares. Truist Financial lowered their price objective on Ameris Bancorp from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, April 1st. Stephens restated an “equal weight” rating and issued a $53.00 target price on shares of Ameris Bancorp in a research note on Tuesday, January 30th. StockNews.com lowered Ameris Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, March 21st. Finally, DA Davidson restated a “buy” rating on shares of Ameris Bancorp in a research note on Monday, January 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $50.25.

Insider Buying and Selling at Ameris Bancorp

In other Ameris Bancorp news, insider Jon S. Edwards sold 7,500 shares of Ameris Bancorp stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $47.35, for a total transaction of $355,125.00. Following the completion of the transaction, the insider now owns 59,691 shares in the company, valued at approximately $2,826,368.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.60% of the company’s stock.

Ameris Bancorp Stock Performance

NASDAQ ABCB opened at $46.28 on Friday. The stock has a 50-day simple moving average of $46.56 and a two-hundred day simple moving average of $45.89. The firm has a market capitalization of $3.19 billion, a P/E ratio of 11.87 and a beta of 1.05. Ameris Bancorp has a fifty-two week low of $28.33 and a fifty-two week high of $53.99. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.02 and a current ratio of 1.03.

Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings data on Thursday, January 25th. The bank reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.05). The company had revenue of $262.35 million for the quarter, compared to analysts’ expectations of $267.23 million. Ameris Bancorp had a net margin of 17.67% and a return on equity of 8.30%. On average, equities analysts forecast that Ameris Bancorp will post 4.47 earnings per share for the current year.

Ameris Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 8th. Shareholders of record on Sunday, March 31st were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.30%. Ameris Bancorp’s payout ratio is currently 15.38%.

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.