Ameris Bancorp (NASDAQ:ABCB) Shares Bought by Entropy Technologies LP

Entropy Technologies LP increased its stake in Ameris Bancorp (NASDAQ:ABCB) by 29.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,007 shares of the bank’s stock after purchasing an additional 1,801 shares during the quarter. Entropy Technologies LP’s holdings in Ameris Bancorp were worth $500,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Jupiter Asset Management Ltd. bought a new position in Ameris Bancorp during the 1st quarter valued at $3,869,000. Seven Eight Capital LP boosted its stake in Ameris Bancorp by 218.6% during 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. Victory Capital Management Inc. grew its holdings in Ameris Bancorp by 1.6% during the second quarter. Victory Capital Management Inc. now owns 851,240 shares of the bank’s stock worth $42,860,000 after acquiring an additional 13,418 shares during the period. Choreo LLC acquired a new position in Ameris Bancorp during the second quarter worth about $1,059,000. Finally, Sequoia Financial Advisors LLC bought a new stake in Ameris Bancorp in the third quarter worth about $233,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

Ameris Bancorp Stock Up 0.0 %

Shares of NASDAQ:ABCB opened at $69.63 on Friday. The firm has a 50 day simple moving average of $63.41 and a 200 day simple moving average of $56.79. Ameris Bancorp has a 52 week low of $40.71 and a 52 week high of $72.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.03. The company has a market cap of $4.81 billion, a PE ratio of 14.51 and a beta of 1.01.

Ameris Bancorp (NASDAQ:ABCB) last released its earnings results on Thursday, October 24th. The bank reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.13. The company had revenue of $424.86 million during the quarter, compared to analyst estimates of $290.60 million. Ameris Bancorp had a return on equity of 9.18% and a net margin of 20.08%. During the same quarter in the prior year, the company earned $1.16 earnings per share. As a group, research analysts expect that Ameris Bancorp will post 4.83 earnings per share for the current year.

Ameris Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were given a dividend of $0.15 per share. The ex-dividend date was Monday, September 30th. This represents a $0.60 dividend on an annualized basis and a yield of 0.86%. Ameris Bancorp’s payout ratio is presently 12.50%.

Insider Buying and Selling at Ameris Bancorp

In other Ameris Bancorp news, Director Robert Dale Ezzell sold 8,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $69.91, for a total value of $559,280.00. Following the completion of the sale, the director now owns 27,444 shares in the company, valued at $1,918,610.04. This represents a 22.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.50% of the company’s stock.

Analyst Ratings Changes

ABCB has been the subject of several research reports. StockNews.com upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Raymond James upgraded shares of Ameris Bancorp from a “market perform” rating to an “outperform” rating and set a $67.00 target price for the company in a report on Monday, October 28th. DA Davidson upped their price target on Ameris Bancorp from $61.00 to $76.00 and gave the company a “buy” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods raised their price objective on Ameris Bancorp from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Finally, Truist Financial cut their target price on Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ameris Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $66.67.

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.