Ameris Bancorp (NASDAQ:ABCB) Shares Bought by AQR Capital Management LLC

AQR Capital Management LLC increased its holdings in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 162.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 105,472 shares of the bank's stock after acquiring an additional 65,219 shares during the quarter. AQR Capital Management LLC owned approximately 0.15% of Ameris Bancorp worth $6,599,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northern Trust Corp raised its holdings in Ameris Bancorp by 7.8% in the fourth quarter. Northern Trust Corp now owns 711,481 shares of the bank's stock worth $44,517,000 after purchasing an additional 51,178 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in shares of Ameris Bancorp during the fourth quarter worth $1,762,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Ameris Bancorp during the 4th quarter valued at $314,000. North Reef Capital Management LP boosted its position in shares of Ameris Bancorp by 8.9% in the 4th quarter. North Reef Capital Management LP now owns 2,533,000 shares of the bank's stock worth $158,490,000 after purchasing an additional 208,000 shares in the last quarter. Finally, Oberweis Asset Management Inc. grew its stake in Ameris Bancorp by 12.7% during the 4th quarter. Oberweis Asset Management Inc. now owns 144,100 shares of the bank's stock worth $9,016,000 after buying an additional 16,200 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors.

Ameris Bancorp Stock Performance

NASDAQ:ABCB traded down $0.25 during mid-day trading on Friday, hitting $60.43. The company's stock had a trading volume of 185,185 shares, compared to its average volume of 398,651. The business's fifty day moving average is $56.31 and its two-hundred day moving average is $62.37. The stock has a market cap of $4.16 billion, a price-to-earnings ratio of 11.60 and a beta of 0.91. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. Ameris Bancorp has a 1 year low of $45.89 and a 1 year high of $74.56.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The bank reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.12 by $0.16. Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. The company had revenue of $285.86 million during the quarter, compared to analysts' expectations of $276.06 million. During the same quarter in the previous year, the company earned $1.10 earnings per share. The firm's revenue for the quarter was up 7.0% on a year-over-year basis. Analysts anticipate that Ameris Bancorp will post 4.99 EPS for the current fiscal year.

Ameris Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Monday, March 31st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Monday, March 31st. Ameris Bancorp's payout ratio is 14.81%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ABCB. Piper Sandler started coverage on Ameris Bancorp in a report on Friday, April 4th. They issued an "overweight" rating and a $74.00 price target for the company. Piper Sandler Companies lifted their target price on shares of Ameris Bancorp to $74.00 and gave the stock a "buy" rating in a research note on Monday, April 7th. Raymond James cut their price target on shares of Ameris Bancorp from $71.00 to $65.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Finally, Stephens reiterated an "equal weight" rating and set a $63.00 price objective on shares of Ameris Bancorp in a research note on Tuesday, April 29th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $71.43.

Insider Activity

In related news, insider Douglas D. Strange bought 1,000 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was bought at an average cost of $56.95 per share, for a total transaction of $56,950.00. Following the acquisition, the insider now directly owns 19,403 shares in the company, valued at $1,105,000.85. This represents a 5.43 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 5.50% of the company's stock.

Ameris Bancorp 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.