Congress Wealth Management LLC DE Grows Stake in Ameris Bancorp (NASDAQ:ABCB)

Congress Wealth Management LLC DE grew its holdings in Ameris Bancorp (NASDAQ:ABCB) by 19.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 109,772 shares of the bank’s stock after buying an additional 17,916 shares during the quarter. Congress Wealth Management LLC DE owned approximately 0.16% of Ameris Bancorp worth $5,311,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. GAMMA Investing LLC purchased a new position in shares of Ameris Bancorp in the 4th quarter valued at approximately $31,000. Journey Strategic Wealth LLC purchased a new position in shares of Ameris Bancorp in the 4th quarter valued at approximately $203,000. Trexquant Investment LP purchased a new position in shares of Ameris Bancorp in the 4th quarter valued at approximately $205,000. Xponance Inc. purchased a new position in shares of Ameris Bancorp in the 4th quarter valued at approximately $211,000. Finally, Mackenzie Financial Corp purchased a new position in shares of Ameris Bancorp in the 4th quarter valued at approximately $218,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ABCB. Truist Financial lowered their target price on Ameris Bancorp from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, April 1st. StockNews.com upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. Piper Sandler lifted their price objective on Ameris Bancorp from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Finally, Stephens reiterated an “equal weight” rating and set a $53.00 price objective on shares of Ameris Bancorp in a research note on Friday, April 26th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.00.

Ameris Bancorp Stock Down 0.0 %

NASDAQ:ABCB traded down $0.02 during trading hours on Monday, reaching $50.33. 312,393 shares of the company traded hands, compared to its average volume of 353,607. The business’s 50-day moving average price is $48.54 and its two-hundred day moving average price is $48.58. The stock has a market capitalization of $3.48 billion, a P/E ratio of 12.25 and a beta of 1.04. Ameris Bancorp has a 1 year low of $33.21 and a 1 year high of $53.99. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.22.

Ameris Bancorp (NASDAQ:ABCB) last posted its earnings results on Friday, April 26th. The bank reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.06. The business had revenue of $267.27 million during the quarter, compared to analyst estimates of $258.05 million. Ameris Bancorp had a return on equity of 8.62% and a net margin of 18.06%. The company’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 EPS. Analysts predict that Ameris Bancorp will post 4.59 earnings per share for the current year.

Ameris Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Sunday, June 30th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Friday, June 28th. Ameris Bancorp’s payout ratio is 14.60%.

Ameris Bancorp Company 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.