Ameris Bancorp $ABCB Shares Acquired by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH boosted its position in shares of Ameris Bancorp (NASDAQ:ABCB) by 16.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 394,563 shares of the bank’s stock after buying an additional 56,852 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned 0.58% of Ameris Bancorp worth $28,925,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. lifted its holdings in Ameris Bancorp by 10.8% in the 2nd quarter. American Century Companies Inc. now owns 2,077,359 shares of the bank’s stock valued at $134,405,000 after acquiring an additional 202,165 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Ameris Bancorp by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,573,486 shares of the bank’s stock worth $101,815,000 after purchasing an additional 11,909 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Ameris Bancorp by 67.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,218,958 shares of the bank’s stock worth $78,867,000 after purchasing an additional 490,602 shares in the last quarter. Congress Asset Management Co. lifted its stake in Ameris Bancorp by 2.8% during the third quarter. Congress Asset Management Co. now owns 969,680 shares of the bank’s stock valued at $71,087,000 after purchasing an additional 26,639 shares during the last quarter. Finally, Norges Bank acquired a new stake in Ameris Bancorp during the second quarter valued at approximately $53,624,000. 91.60% of the stock is owned by institutional investors and hedge funds.

Ameris Bancorp Price Performance

Shares of NASDAQ:ABCB opened at $75.26 on Wednesday. The company’s fifty day moving average is $74.91 and its two-hundred day moving average is $71.64. The company has a market cap of $5.14 billion, a P/E ratio of 14.45 and a beta of 1.00. Ameris Bancorp has a 12-month low of $48.27 and a 12-month high of $78.99. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11.

Ameris Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, December 31st. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. Ameris Bancorp’s dividend payout ratio (DPR) is presently 13.84%.

Ameris Bancorp announced that its board has initiated a share repurchase program on Monday, October 20th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the bank to repurchase up to 4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ABCB. Piper Sandler set a $84.00 price target on shares of Ameris Bancorp in a research report on Wednesday, October 29th. Truist Financial assumed coverage on Ameris Bancorp in a research note on Tuesday, November 25th. They set a “hold” rating and a $80.00 price objective for the company. DA Davidson assumed coverage on Ameris Bancorp in a research report on Tuesday, November 25th. They set a “buy” rating and a $87.00 target price on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $80.00 target price (up from $73.00) on shares of Ameris Bancorp in a report on Wednesday, October 29th. Finally, Keefe, Bruyette & Woods increased their price target on Ameris Bancorp from $78.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Ameris Bancorp has a consensus rating of “Moderate Buy” and an average price target of $78.57.

Ameris Bancorp Company Profile

Ameris Bancorp is a bank holding company headquartered in Atlanta, Georgia. Through its principal subsidiary, Ameris Bank, the company offers a broad range of commercial and retail banking services to individuals, small businesses, middle market companies and agricultural customers. Its core business lines encompass deposit services, lending solutions, treasury management, mortgage origination and servicing, insurance products and wealth management.

Ameris Bancorp operates a network of branches and loan production offices across the southeastern United States, including Georgia, Alabama, Florida, North Carolina, South Carolina and Tennessee.