Palmer Knight Co Makes New $201,000 Investment in Ameris Bancorp $ABCB

Palmer Knight Co acquired a new stake in shares of Ameris Bancorp (NASDAQ:ABCB) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,109 shares of the bank’s stock, valued at approximately $201,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its stake in Ameris Bancorp by 73.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 492 shares of the bank’s stock valued at $32,000 after purchasing an additional 208 shares during the last quarter. Bayforest Capital Ltd bought a new position in shares of Ameris Bancorp in the second quarter valued at approximately $68,000. GAMMA Investing LLC boosted its position in shares of Ameris Bancorp by 52.5% during the second quarter. GAMMA Investing LLC now owns 1,777 shares of the bank’s stock valued at $115,000 after buying an additional 612 shares during the last quarter. Optimum Investment Advisors purchased a new position in shares of Ameris Bancorp during the first quarter valued at approximately $128,000. Finally, State of Wyoming grew its holdings in Ameris Bancorp by 8.3% during the first quarter. State of Wyoming now owns 2,346 shares of the bank’s stock worth $135,000 after buying an additional 179 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Ameris Bancorp Stock Performance

ABCB stock opened at $70.93 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The firm has a market cap of $4.87 billion, a PE ratio of 13.61 and a beta of 0.94. The business has a 50 day moving average of $73.01 and a 200-day moving average of $65.52. Ameris Bancorp has a 12-month low of $48.27 and a 12-month high of $76.58.

Ameris Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 6th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. Ameris Bancorp’s dividend payout ratio (DPR) is currently 14.08%.

Analyst Ratings Changes

Separately, DA Davidson set a $81.00 price objective on Ameris Bancorp and gave the company a “buy” rating in a research note on Wednesday, July 30th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Ameris Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $72.14.

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.