Ameris Bancorp (NASDAQ:ABCB) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its stake in Ameris Bancorp (NASDAQ:ABCB) by 1.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 851,240 shares of the bank’s stock after purchasing an additional 13,418 shares during the quarter. Victory Capital Management Inc.’s holdings in Ameris Bancorp were worth $42,860,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Jupiter Asset Management Ltd. purchased a new position in Ameris Bancorp during the 1st quarter valued at about $3,869,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Ameris Bancorp by 75.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 416,557 shares of the bank’s stock valued at $20,153,000 after purchasing an additional 178,500 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Ameris Bancorp during the 1st quarter worth approximately $1,154,000. Congress Asset Management Co. MA lifted its holdings in Ameris Bancorp by 5.5% during the 1st quarter. Congress Asset Management Co. MA now owns 767,156 shares of the bank’s stock worth $37,115,000 after buying an additional 40,323 shares in the last quarter. Finally, Seven Eight Capital LP boosted its position in Ameris Bancorp by 218.6% in the 1st quarter. Seven Eight Capital LP now owns 22,363 shares of the bank’s stock valued at $1,082,000 after buying an additional 15,343 shares during the period. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Ameris Bancorp Trading Up 0.2 %

Shares of Ameris Bancorp stock opened at $59.46 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.03 and a debt-to-equity ratio of 0.30. The company has a fifty day simple moving average of $57.58 and a 200-day simple moving average of $51.11. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 14.47 and a beta of 1.02. Ameris Bancorp has a 12-month low of $34.26 and a 12-month high of $64.88.

Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings data on Thursday, July 25th. The bank reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.03. Ameris Bancorp had a net margin of 19.28% and a return on equity of 8.97%. The company had revenue of $436.03 million during the quarter, compared to the consensus estimate of $273.67 million. During the same quarter in the prior year, the firm posted $0.91 earnings per share. On average, equities analysts forecast that Ameris Bancorp will post 4.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Truist Financial upped their price objective on Ameris Bancorp from $54.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Stephens upped their price target on Ameris Bancorp from $52.00 to $64.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods lifted their price objective on Ameris Bancorp from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Finally, DA Davidson upped their target price 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. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.20.

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.