Townsquare Capital LLC Raises Stock Position in Ameris Bancorp (NASDAQ:ABCB)

Townsquare Capital LLC increased its holdings in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 16.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,321 shares of the bank's stock after purchasing an additional 6,529 shares during the quarter. Townsquare Capital LLC owned approximately 0.07% of Ameris Bancorp worth $2,836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Picton Mahoney Asset Management raised its holdings in shares of Ameris Bancorp by 2,436.8% during the fourth quarter. Picton Mahoney Asset Management now owns 482 shares of the bank's stock valued at $30,000 after acquiring an additional 463 shares in the last quarter. R Squared Ltd bought a new position in Ameris Bancorp in the 4th quarter worth $51,000. Blue Trust Inc. lifted its position in shares of Ameris Bancorp by 56.1% in the 4th quarter. Blue Trust Inc. now owns 1,113 shares of the bank's stock worth $69,000 after purchasing an additional 400 shares during the period. GAMMA Investing LLC raised its stake in Ameris Bancorp by 17.9% in the fourth quarter. GAMMA Investing LLC now owns 1,332 shares of the bank's stock worth $83,000 after buying an additional 202 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in Ameris Bancorp by 167.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the bank's stock worth $90,000 after buying an additional 896 shares during the period. Hedge funds and other institutional investors own 91.64% of the company's stock.

Ameris Bancorp Price Performance

ABCB stock traded down $0.74 during midday trading on Monday, hitting $52.46. The company's stock had a trading volume of 28,031 shares, compared to its average volume of 443,552. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. Ameris Bancorp has a 12 month low of $45.89 and a 12 month high of $74.56. The company has a 50 day moving average of $58.29 and a two-hundred day moving average of $62.89. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of 10.07 and a beta of 0.87.

Ameris Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Monday, March 31st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.53%. The ex-dividend date was Monday, March 31st. Ameris Bancorp's payout ratio is currently 15.36%.

Insider Buying and Selling at Ameris Bancorp

In other news, insider Douglas D. Strange purchased 1,000 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $56.95 per share, for a total transaction of $56,950.00. Following the acquisition, the insider now directly owns 19,403 shares of the company's stock, valued at $1,105,000.85. This represents a 5.43 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ABCB shares. Raymond James reiterated an "outperform" rating and issued a $71.00 price objective (up previously from $67.00) on shares of Ameris Bancorp in a report on Monday, February 3rd. Stephens restated an "equal weight" rating and set a $71.00 price target on shares of Ameris Bancorp in a research note on Friday, January 31st. Piper Sandler Companies raised their target price on Ameris Bancorp to $74.00 and gave the stock a "buy" rating in a report on Monday, April 7th. Finally, Piper Sandler started coverage on Ameris Bancorp in a research report on Friday, April 4th. They issued an "overweight" rating and a $74.00 price target for the company. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $73.43.

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.