As of the end of the 4th quarter, Thrivent Financial for Lutherans sold off 77.4% of its shares in Ameris Bancorp (NASDAQ:ABCB), according to the company’s most recent filing with the Securities and Exchange Commission. The sale saw Thrivent Financial for Lutherans own approximately 0.10% of Ameris Bancorp worth $3,152,000 at the close of the quarter.
This news comes amid several reports from equity research analysts that provide mixed signals about Ameris Bancorp’s current position. Reports from Truist Financial and Piper Sandler indicated a decrease in price target to $38.00 and $46.00, respectively, while StockNews.com downgraded shares from a “hold” rating to a “sell” rating earlier this year.
On the other hand, DA Davidson reaffirmed a “neutral” rating on Ameris Bancorp’s shares in March and Keefe, Bruyette & Woods assigned the company a price target of $54.00 in April.
Overall, Bloomberg data shows that Ameris Bancorp currently holds an average rating of “Hold” across various equity research analysts, with a consensus price target hovering around $45.40.
Ameris Bancorp stock opened at $30.19 on May 16th with a quick ratio of 1.09 and a current ratio of 1.11 as well as a debt-to-equity ratio amounting to 0.78%. The bank has seen fluctuations throughout the past year with its lowest point reaching $28.33 compared to its highest point at $54.24 prior.
Despite mixed ratings among equity research analysts, it remains pertinent for investors interested in Ameris Bancorp to keep note of stock market changes over time and carefully consider multiple perspectives before making investment decisions moving forward into the future or else they may risk missing out on potentially advantageous opportunities.
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Ameris Bancorp sees increase in hedge fund investments and insider buying
Ameris Bancorp, the US-based financial holding company, has seen an increase in hedge fund investments over the past few quarters. CWM LLC led the way with an 89.5% rise in its holdings of the bank’s stock during the third quarter, while Quantbot Technologies LP bought a new stake worth $41,000 during the second quarter. Federated Hermes Inc. and C M Bidwell & Associates Ltd also secured positions in Ameris Bancorp recently, while Point72 Hong Kong Ltd has increased its holdings by over 200%. Institutional investors currently own 86.74% of the bank’s stock.
In insider news, company Director William I. Jr. Bowen purchased 670 shares of Ameris Bancorp’s stock valued at $27,604 on Friday, March 10th; CFO Nicole S. Stokes bought 1,000 shares for $29 apiece on Wednesday, May 10th; and insiders altogether have invested in more than 31,670 shares worth a total value of $975,974 during the previous quarter.
Recent equity reports have been varied with DA Davidson maintaining a ‘neutral’ rating and Piper Sandler marking down their target price from $51 to $46. Truist Financial decreased their price target from $43 to $38, Keefe Bruyette & Woods set Ameris Bancorp’s target price to $54 and StockNews.com rated Ameris Bancorp as a ‘sell’. The company will be hoping eagle-eyed investors recognize it still holds promise after posting earnings per share (EPS) of $0.86 for Q1-2017 on April 28th – missing analysts’ forecast EPS of $1.20 by ($0.34).
Ameris Bancorp paid out a quarterly dividend of $0.15 to shareholders on Monday, April 10th; representing a dividend yield of almost 2% and having an annualized payout ratio of 12.79%. Analysts predict the company’s EPS for the 2017 fiscal year will be 4.5. Ameris Bancorp’s stock trades on Nasdaq with the ticker ‘ABCB’. This is a notable development and could lead to more institutional investors buying it long term.
