Point72 DIFC Ltd Decreases Stake in Ameris Bancorp (NASDAQ:ABCB)

Point72 DIFC Ltd decreased its holdings in Ameris Bancorp (NASDAQ:ABCB) by 68.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,710 shares of the bank’s stock after selling 8,038 shares during the quarter. Point72 DIFC Ltd’s holdings in Ameris Bancorp were worth $187,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jupiter Asset Management Ltd. acquired a new stake in shares of Ameris Bancorp during the 1st quarter valued at approximately $3,869,000. Allspring Global Investments Holdings LLC boosted its position in Ameris Bancorp by 75.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 416,557 shares of the bank’s stock worth $20,153,000 after purchasing an additional 178,500 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Ameris Bancorp in the first quarter valued at $1,154,000. Congress Asset Management Co. MA increased its position in shares of Ameris Bancorp by 5.5% in the first quarter. Congress Asset Management Co. MA now owns 767,156 shares of the bank’s stock valued at $37,115,000 after buying an additional 40,323 shares in the last quarter. Finally, Seven Eight Capital LP increased its position in shares of Ameris Bancorp by 218.6% in the first quarter. Seven Eight Capital LP now owns 22,363 shares of the bank’s stock valued at $1,082,000 after buying an additional 15,343 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Ameris Bancorp Stock Performance

NASDAQ:ABCB opened at $61.32 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.05 and a quick ratio of 1.03. The firm has a market cap of $4.24 billion, a PE ratio of 14.92 and a beta of 1.02. The firm has a 50 day simple moving average of $59.85 and a 200-day simple moving average of $52.54. Ameris Bancorp has a 1-year low of $34.26 and a 1-year high of $65.40.

Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.03. Ameris Bancorp had a return on equity of 8.97% and a net margin of 19.28%. The company had revenue of $436.03 million during the quarter, compared to the consensus estimate of $273.67 million. During the same period in the previous year, the firm posted $0.91 EPS. On average, equities analysts expect that Ameris Bancorp will post 4.82 EPS for the current year.

Ameris Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, September 30th. This represents a $0.60 annualized dividend and a dividend yield of 0.98%. Ameris Bancorp’s payout ratio is currently 14.60%.

Wall Street Analyst Weigh In

ABCB has been the topic of a number of research reports. DA Davidson increased their price objective on shares of Ameris Bancorp from $61.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, July 29th. 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 upped their target price on Ameris Bancorp from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Finally, Stephens raised 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 analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.00.

Ameris Bancorp Company 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.