Ameris Bancorp $ABCB Shares Purchased by Synovus Financial Corp

Synovus Financial Corp boosted its stake in Ameris Bancorp (NASDAQ:ABCB) by 28.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 18,049 shares of the bank’s stock after purchasing an additional 4,029 shares during the period. Synovus Financial Corp’s holdings in Ameris Bancorp were worth $1,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its position in Ameris Bancorp by 7.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,479 shares of the bank’s stock worth $776,000 after buying an additional 922 shares during the period. Foundry Partners LLC raised its stake in Ameris Bancorp by 53.5% during the 1st quarter. Foundry Partners LLC now owns 110,911 shares of the bank’s stock valued at $6,385,000 after acquiring an additional 38,650 shares in the last quarter. KBC Group NV raised its stake in Ameris Bancorp by 8.8% during the 1st quarter. KBC Group NV now owns 3,251 shares of the bank’s stock valued at $187,000 after acquiring an additional 264 shares in the last quarter. Advisor Resource Council bought a new stake in Ameris Bancorp during the 1st quarter valued at $590,000. Finally, MQS Management LLC bought a new stake in Ameris Bancorp during the 1st quarter valued at $517,000. 91.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on ABCB shares. DA Davidson set a $81.00 target price on Ameris Bancorp and gave the company a “buy” rating in a research note on Wednesday, July 30th. Raymond James Financial cut their target price on Ameris Bancorp from $71.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.14.

Ameris Bancorp Stock Up 1.2%

Shares of ABCB stock opened at $73.88 on Thursday. Ameris Bancorp has a 1 year low of $48.27 and a 1 year high of $74.56. The stock has a market cap of $5.07 billion, a PE ratio of 14.18 and a beta of 0.96. The business’s fifty day moving average is $67.41 and its 200-day moving average is $62.24. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02.

Ameris Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 7th. Stockholders of record on Monday, June 30th were given a dividend of $0.20 per share. The ex-dividend date was Monday, June 30th. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. Ameris Bancorp’s dividend payout ratio (DPR) is 14.08%.

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.