ProShare Advisors LLC Sells 3,151 Shares of Ameris Bancorp (NASDAQ:ABCB)

ProShare Advisors LLC reduced its holdings in Ameris Bancorp (NASDAQ:ABCB) by 23.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,164 shares of the bank’s stock after selling 3,151 shares during the quarter. ProShare Advisors LLC’s holdings in Ameris Bancorp were worth $512,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Intech Investment Management LLC acquired a new stake in Ameris Bancorp during the 2nd quarter worth approximately $311,000. Independent Advisor Alliance increased its position in shares of Ameris Bancorp by 0.8% during the second quarter. Independent Advisor Alliance now owns 2,533,580 shares of the bank’s stock worth $127,566,000 after acquiring an additional 19,287 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in shares of Ameris Bancorp by 18.6% during the second quarter. First Eagle Investment Management LLC now owns 290,033 shares of the bank’s stock worth $14,603,000 after acquiring an additional 45,450 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in Ameris Bancorp in the 2nd quarter valued at $308,000. Finally, Dimensional Fund Advisors LP boosted its stake in Ameris Bancorp by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,374,719 shares of the bank’s stock worth $220,263,000 after purchasing an additional 45,240 shares during the period. Institutional investors own 91.64% of the company’s stock.

Ameris Bancorp Stock Performance

Shares of NASDAQ ABCB opened at $62.39 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.03 and a current ratio of 1.05. The stock has a 50 day moving average price of $59.89 and a 200 day moving average price of $52.75. The stock has a market capitalization of $4.31 billion, a PE ratio of 15.18 and a beta of 1.02. Ameris Bancorp has a 52 week low of $34.26 and a 52 week high of $65.40.

Ameris Bancorp (NASDAQ:ABCB) last released its earnings results on Thursday, July 25th. The bank reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.03. The business had revenue of $436.03 million during the quarter, compared to analysts’ expectations of $273.67 million. Ameris Bancorp had a net margin of 19.28% and a return on equity of 8.97%. During the same period last year, the business earned $0.91 earnings per share. Analysts predict that Ameris Bancorp will post 4.82 earnings per share for the current fiscal year.

Ameris Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 30th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.96%. Ameris Bancorp’s payout ratio is 14.60%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Truist Financial lifted their price target on Ameris Bancorp from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Keefe, Bruyette & Woods boosted their target price on Ameris Bancorp from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. DA Davidson raised their price target on shares of Ameris Bancorp from $61.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Stephens lifted their price objective on shares of Ameris Bancorp from $52.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

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.