Ameris Bancorp (NASDAQ:ABCB) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Ameris Bancorp (NASDAQ:ABCB) by 16.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,398 shares of the bank’s stock after acquiring an additional 2,210 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ameris Bancorp were worth $817,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Mackenzie Financial Corp acquired a new stake in shares of Ameris Bancorp in the fourth quarter worth $218,000. Phocas Financial Corp. increased its holdings in Ameris Bancorp by 1.8% in the 4th quarter. Phocas Financial Corp. now owns 203,211 shares of the bank’s stock valued at $10,780,000 after purchasing an additional 3,686 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in Ameris Bancorp in the fourth quarter valued at about $1,724,000. GW Henssler & Associates Ltd. acquired a new position in shares of Ameris Bancorp during the fourth quarter worth about $235,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Ameris Bancorp in the fourth quarter worth about $219,000. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Ameris Bancorp Stock Performance

Ameris Bancorp stock opened at $48.50 on Tuesday. Ameris Bancorp has a 52 week low of $28.33 and a 52 week high of $53.99. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.22. The stock has a market cap of $3.35 billion, a P/E ratio of 11.80 and a beta of 1.05. The stock has a 50 day moving average of $46.61 and a 200-day moving average of $46.34.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings results on Friday, April 26th. The bank reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.06. The firm had revenue of $267.27 million for the quarter, compared to analysts’ expectations of $258.05 million. Ameris Bancorp had a net margin of 18.06% and a return on equity of 8.62%. The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the prior year, the company posted $0.86 earnings per share. On average, analysts expect that Ameris Bancorp will post 4.47 EPS for the current fiscal year.

Ameris Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 8th. Stockholders of record on Sunday, March 31st were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.60 annualized dividend and a dividend yield of 1.24%. Ameris Bancorp’s payout ratio is 14.60%.

Analyst Ratings Changes

Several equities research analysts recently commented on ABCB shares. Stephens reiterated an “equal weight” rating and set a $53.00 target price on shares of Ameris Bancorp in a report on Friday. StockNews.com raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Monday. Truist Financial reduced their target price on shares of Ameris Bancorp from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, April 1st. DA Davidson reaffirmed a “buy” rating on shares of Ameris Bancorp in a report on Monday, January 15th. Finally, Piper Sandler lifted their price target on shares of Ameris Bancorp from $55.00 to $57.00 and gave the stock an “overweight” rating in a research note on Monday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.00.

Insider Buying and Selling

In other Ameris Bancorp news, insider Jon S. Edwards sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $47.35, for a total transaction of $355,125.00. Following the sale, the insider now owns 59,691 shares in the company, valued at $2,826,368.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.60% of the company’s stock.

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.