Burns Matteson Capital Management LLC Purchases New Stake in Ameris Bancorp $ABCB

Burns Matteson Capital Management LLC acquired a new position in shares of Ameris Bancorp (NASDAQ:ABCB) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,696 shares of the bank’s stock, valued at approximately $572,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Ameris Bancorp by 3.0% during the third quarter. Envestnet Portfolio Solutions Inc. now owns 5,231 shares of the bank’s stock worth $384,000 after purchasing an additional 153 shares during the period. Lido Advisors LLC boosted its holdings in shares of Ameris Bancorp by 2.9% in the 3rd quarter. Lido Advisors LLC now owns 6,294 shares of the bank’s stock valued at $463,000 after buying an additional 177 shares during the period. Inspire Investing LLC boosted its holdings in shares of Ameris Bancorp by 3.0% in the 3rd quarter. Inspire Investing LLC now owns 6,183 shares of the bank’s stock valued at $453,000 after buying an additional 181 shares during the period. Covestor Ltd grew its position in shares of Ameris Bancorp by 51.5% during the 3rd quarter. Covestor Ltd now owns 547 shares of the bank’s stock valued at $40,000 after buying an additional 186 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its position in shares of Ameris Bancorp by 2.0% during the 3rd quarter. Verdence Capital Advisors LLC now owns 9,730 shares of the bank’s stock valued at $724,000 after buying an additional 195 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Ameris Bancorp Trading Up 2.0%

Shares of NASDAQ:ABCB opened at $78.03 on Wednesday. The company has a market cap of $5.30 billion, a PE ratio of 14.98 and a beta of 0.97. The company’s 50-day moving average price is $79.75 and its 200 day moving average price is $76.71. Ameris Bancorp has a fifty-two week low of $48.27 and a fifty-two week high of $87.98. 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 (NASDAQ:ABCB) last posted its earnings results on Thursday, January 29th. The bank reported $1.59 EPS for the quarter, topping the consensus estimate of $1.56 by $0.03. Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. The firm had revenue of $309.92 million during the quarter, compared to analysts’ expectations of $310.48 million. During the same quarter in the prior year, the firm earned $1.38 EPS. Sell-side analysts anticipate that Ameris Bancorp will post 4.99 earnings per share for the current year.

Ameris Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 6th. Investors of record on Tuesday, March 31st will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, March 31st. Ameris Bancorp’s dividend payout ratio is 13.33%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of Ameris Bancorp from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. DA Davidson set a $94.00 price target on Ameris Bancorp in a research report on Monday, February 2nd. Truist Financial raised their price target on Ameris Bancorp from $83.00 to $86.00 and gave the stock a “hold” rating in a report on Monday, February 2nd. Finally, Stephens boosted their price objective on Ameris Bancorp from $79.00 to $87.00 and gave the company an “equal weight” rating in a research report on Monday, February 2nd. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Ameris Bancorp has an average rating of “Moderate Buy” and a consensus target price of $86.50.

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.