Swiss National Bank Trims Stock Position in Ameris Bancorp $ABCB

Swiss National Bank cut its position in Ameris Bancorp (NASDAQ:ABCB) by 1.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 125,344 shares of the bank’s stock after selling 1,800 shares during the quarter. Swiss National Bank’s holdings in Ameris Bancorp were worth $8,110,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. SageView Advisory Group LLC increased its holdings in shares of Ameris Bancorp by 2.5% in the first quarter. SageView Advisory Group LLC now owns 7,107 shares of the bank’s stock worth $409,000 after purchasing an additional 176 shares during the period. State of Wyoming grew its position 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. Verdence Capital Advisors LLC grew its position in Ameris Bancorp by 1.9% during the second quarter. Verdence Capital Advisors LLC now owns 9,535 shares of the bank’s stock worth $617,000 after buying an additional 181 shares in the last quarter. Yousif Capital Management LLC increased its stake in Ameris Bancorp by 0.8% in the 2nd quarter. Yousif Capital Management LLC now owns 24,303 shares of the bank’s stock worth $1,572,000 after acquiring an additional 187 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Ameris Bancorp by 73.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 492 shares of the bank’s stock valued at $32,000 after acquiring an additional 208 shares in the last quarter. 91.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ABCB has been the subject of a number of research analyst reports. Piper Sandler set a $84.00 price target on Ameris Bancorp in a research report on Wednesday, October 29th. Truist Financial started coverage on shares of Ameris Bancorp in a research report on Tuesday. They set a “hold” rating and a $80.00 target price for the company. Keefe, Bruyette & Woods increased their price target on shares of Ameris Bancorp from $78.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. DA Davidson started coverage on shares of Ameris Bancorp in a research report on Tuesday, November 25th. They set a “buy” rating and a $87.00 price objective on the stock. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $80.00 target price (up from $73.00) on shares of Ameris Bancorp in a research report on Wednesday, October 29th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.57.

Ameris Bancorp Trading Down 0.2%

Shares of ABCB opened at $75.76 on Friday. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 14.54 and a beta of 1.04. 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 has a fifty-two week low of $48.27 and a fifty-two week high of $77.15. The firm has a 50 day moving average price of $73.43 and a 200-day moving average price of $69.29.

Ameris Bancorp declared that its Board of Directors has initiated a share buyback plan on Monday, October 20th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the bank to repurchase up to 4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Ameris Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 6th. Shareholders of record on Tuesday, September 30th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.80 annualized dividend and a yield of 1.1%. Ameris Bancorp’s payout ratio is currently 13.84%.

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.