Convergence Investment Partners LLC recently announced the purchase of a new position in Ameris Bancorp, the NASDAQ-listed bank holding company, in its Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,227 shares of the bank’s stock worth $152,000 in the 4th quarter of 2022. But what does this news mean for investors and those following Ameris Bancorp’s performance?
Several analysts have shared their opinions on Ameris Bancorp’s stocks lately. Stephens issued an “equal weight” rating on April 3rd with a price target of $41.00 per share. Meanwhile, DA Davidson reiterated a “neutral” rating on March 3rd. Truist Financial also lowered their price target from $52.00 to $43.00, issuing a “buy” rating to the stock during a research report published on March 23rd.
Keefe, Bruyette & Woods and StockNews.com also weighed in on Ameris Bancorp’s performance in research reports published in early April. Keefe, Bruyette & Woods lowered its price target to $54 per share, while StockNews.com downgraded Ameris Bancorp from a “hold” rating to a “sell” rating.
Given these assessments by various financial experts, it is safe to say that opinion is somewhat divided when it comes to Ameris Bancorp’s current standing and future prospects as an investment option.
Ameris Bancorp opened at $32.08 per share on April 26th and has seen fluctuations ranging from $31.94 (1-year low) to $54.24 (1-year high). As for moving averages over time, the firm’s 50-day moving average price currently stands at $39.58, while its 200-day figure is higher at $45.98.
Overall market outlook is favorable towards Ameris Bancorp as its market cap is an impressive $2.23 billion and its P/E ratio hovers at 6.43, although the company’s high beta of 1.09 indicates higher volatility than that of the broader market. The company also boasts a debt-to-equity ratio of 0.63, suggesting it has strong fundamentals in place.
Investors interested in Ameris Bancorp should note that its quick ratio is currently at 1.07, while its current ratio is slightly higher at 1.09, indicating that the firm has acceptable short-term liquidity.
All these details will come into play for anyone looking to invest in Ameris Bancorp’s stocks, and we shall be watching closely to see how the bank performs in light of the new position acquired by Convergence Investment Partners LLC. Only time will tell whether this turns out to be a wise investment move or not, but financial analysts are sure to keep a close eye on how things unfold over time.
Investors show mixed reactions towards Ameris Bancorp amidst falling earnings figures
Ameris Bancorp, a bank holding company providing banking services to individuals and businesses, has seen an increase in investments and a decrease in stock ownership by several large investors. BlackRock Inc. increased its holdings in Ameris Bancorp by 1.6% while Vanguard Group reported an increase of 2.2%. Other investors reducing their stakes were not disclosed. The bank’s third quarter report stated that Wellington Management Group LLP and State Street Corp also increased their holdings by 7.4% and 14.3%, respectively.
Dimensional Fund Advisors LP saw the most significant increase of 7.1% resulting in ownership of 3,630,195 shares with a value of $162,307,000 after purchasing an additional 240,506 shares during last quarter. Hedge funds as well as other institutional investors own up to 86.74% of the stock making it a popular investment choice for large entities.
William I Jr. Bowen purchased additional shares recently bringing his total to over $942 million following his acquisition of more than 600 shares for a price of $41.20 per share at a total cost of $27,604 which was disclosed via Securities & Exchange Commission documents made available online.
While recent coverage has been neutral towards Ameris Bancorp with several analysts rating the bank’s stocks as ‘hold’, one rating gave it a ‘sell’ while three rated the stocks ‘buy’. Recently DA Davidson rated it as neutral while sub-investment newsletter StockNews.com downgraded Ameris Bancorp from hold to sell status citing falling earnings figures.
Recently, Ameris Bancorp’s quarterly earnings have come up short compared to what analysts were anticipating; however revenue saw growth even though there was no elaboration on how those revenues came about or the expected path moving forward.
The bankholding company’s stable outlook was solidified with the declaration of quarterly dividends; paying shareholders on April 10th representing 1.87% of dividend yield or $0.60 annually while currently holding a dividend payout ratio (DPR) of 12.02%; causing investors to be hopeful for the future of this company as it navigates further into uncertain markets.