Cullen Capital Management LLC Has $1.04 Million Stake in Ameris Bancorp (NASDAQ:ABCB)

Cullen Capital Management LLC trimmed its holdings in Ameris Bancorp (NASDAQ:ABCBFree Report) by 5.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,671 shares of the bank’s stock after selling 1,222 shares during the period. Cullen Capital Management LLC’s holdings in Ameris Bancorp were worth $1,044,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABCB. GAMMA Investing LLC acquired a new position in Ameris Bancorp during the fourth quarter valued at approximately $31,000. Journey Strategic Wealth LLC acquired a new position in Ameris Bancorp during the fourth quarter valued at approximately $203,000. Trexquant Investment LP acquired a new position in Ameris Bancorp during the fourth quarter valued at approximately $205,000. Xponance Inc. bought a new position in shares of Ameris Bancorp in the 4th quarter valued at $211,000. Finally, Mackenzie Financial Corp bought a new position in shares of Ameris Bancorp in the 4th quarter valued at $218,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Ameris Bancorp Stock Performance

Shares of Ameris Bancorp stock opened at $46.93 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $47.87 and a two-hundred day moving average price of $48.28. Ameris Bancorp has a 1-year low of $32.74 and a 1-year high of $53.99. The company has a market cap of $3.24 billion, a P/E ratio of 11.42 and a beta of 1.06.

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

Ameris Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 8th. Stockholders of record on Sunday, March 31st were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.60 annualized dividend and a dividend yield of 1.28%. Ameris Bancorp’s dividend payout ratio is presently 14.60%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Truist Financial decreased their price objective on Ameris Bancorp from $60.00 to $54.00 and set a “buy” rating for the company in a report on Monday, April 1st. Piper Sandler increased their price objective on Ameris Bancorp from $55.00 to $57.00 and gave the company an “overweight” rating in a report on Monday, April 29th. StockNews.com upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Finally, Stephens restated an “equal weight” rating and issued a $53.00 price objective on shares of Ameris Bancorp in a report on Friday, April 26th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

Read Our Latest Analysis on Ameris Bancorp

Ameris Bancorp Profile

(Free Report)

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.

Recommended Stories

Institutional Ownership by Quarter for Ameris Bancorp (NASDAQ:ABCB)

Receive News & Ratings for Ameris Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameris Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.