Lazard Asset Management LLC Makes New Investment in Ameris Bancorp $ABCB

Lazard Asset Management LLC purchased a new position in shares of Ameris Bancorp (NASDAQ:ABCB) during the first quarter, HoldingsChannel reports. The fund purchased 23,201 shares of the bank’s stock, valued at approximately $1,809,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sound Income Strategies LLC acquired a new stake in Ameris Bancorp during the 4th quarter worth $29,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Ameris Bancorp during the third quarter worth about $45,000. Danske Bank A S bought a new position in shares of Ameris Bancorp during the 3rd quarter valued at about $51,000. Torren Management LLC acquired a new position in shares of Ameris Bancorp in the 4th quarter valued at approximately $76,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in Ameris Bancorp by 316.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,059 shares of the bank’s stock worth $79,000 after purchasing an additional 805 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Ameris Bancorp Stock Performance

Shares of ABCB opened at $88.17 on Tuesday. The stock has a market capitalization of $5.93 billion, a price-to-earnings ratio of 16.92 and a beta of 0.91. Ameris Bancorp has a 12 month low of $65.47 and a 12 month high of $93.22. The firm has a fifty day simple moving average of $88.18 and a 200 day simple moving average of $83.72. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11.

Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.06). Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. The business had revenue of $317.78 million during the quarter, compared to analyst estimates of $323.78 million. During the same quarter in the previous year, the firm posted $1.59 earnings per share. Research analysts forecast that Ameris Bancorp will post 4.99 EPS for the current fiscal year.

Ameris Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Tuesday, June 30th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. Ameris Bancorp’s payout ratio is currently 14.47%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Raymond James Financial lowered shares of Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 1st. DA Davidson boosted their price objective on shares of Ameris Bancorp from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Morgan Stanley upgraded Ameris Bancorp to an “overweight” rating in a report on Wednesday, June 24th. Truist Financial cut their price target on Ameris Bancorp from $92.00 to $90.00 and set a “hold” rating on the stock in a report on Tuesday, July 28th. Finally, Piper Sandler reduced their price objective on Ameris Bancorp from $96.00 to $92.00 and set a “neutral” rating for the company in a research report on Monday, July 27th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $91.67.

About Ameris Bancorp

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.