Cubist Systematic Strategies LLC Boosts Stake in Ameris Bancorp (NASDAQ:ABCB)

Cubist Systematic Strategies LLC grew its stake in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 565.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 88,659 shares of the bank's stock after purchasing an additional 75,329 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.13% of Ameris Bancorp worth $5,547,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ABCB. 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 during the last quarter. R Squared Ltd purchased a new position in shares of Ameris Bancorp in the fourth quarter worth about $51,000. Blue Trust Inc. boosted its position in Ameris Bancorp by 56.1% during the fourth quarter. Blue Trust Inc. now owns 1,113 shares of the bank's stock worth $69,000 after acquiring an additional 400 shares during the last quarter. GAMMA Investing LLC raised its holdings in Ameris Bancorp by 17.9% in the 4th quarter. GAMMA Investing LLC now owns 1,332 shares of the bank's stock valued at $83,000 after acquiring an additional 202 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Ameris Bancorp by 167.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the bank's stock worth $90,000 after purchasing an additional 896 shares in the last quarter. Hedge funds and other institutional investors own 91.64% of the company's stock.

Wall Street Analysts Forecast Growth

ABCB has been the topic of a number of recent research reports. Piper Sandler began coverage on Ameris Bancorp in a research note on Friday, April 4th. They set an "overweight" rating and a $74.00 price objective on the stock. Raymond James dropped their price objective on shares of Ameris Bancorp from $71.00 to $65.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Stephens reaffirmed an "equal weight" rating and set a $63.00 target price on shares of Ameris Bancorp in a research note on Tuesday, April 29th. Finally, Piper Sandler Companies increased their price target on shares of Ameris Bancorp to $74.00 and gave the company a "buy" rating in a research note on Monday, April 7th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $71.43.

Ameris Bancorp Trading Up 4.4%

NASDAQ ABCB traded up $2.63 during trading on Monday, hitting $62.99. The stock had a trading volume of 452,229 shares, compared to its average volume of 398,865. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $4.34 billion, a PE ratio of 12.09 and a beta of 0.91. The firm has a 50 day moving average price of $56.31 and a 200 day moving average price of $62.37. Ameris Bancorp has a twelve month low of $45.89 and a twelve month high of $74.56.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last released its earnings results on Monday, April 28th. The bank reported $1.28 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $276.06 million. During the same period in the prior year, the business earned $1.10 EPS. The firm's quarterly revenue was up 7.0% on a year-over-year basis. As a group, equities research analysts forecast that Ameris Bancorp will post 4.99 earnings per share for the current year.

Ameris Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Monday, March 31st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Monday, March 31st. Ameris Bancorp's payout ratio is presently 14.81%.

Insider Transactions at Ameris Bancorp

In other Ameris Bancorp news, insider Douglas D. Strange bought 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $56.95 per share, for a total transaction of $56,950.00. Following the completion of the purchase, the insider now directly owns 19,403 shares in the company, valued at $1,105,000.85. This trade represents a 5.43% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.40% of the company's stock.

About Ameris Bancorp

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.