GSA Capital Partners LLP acquired a new stake in Ameris Bancorp (NASDAQ:ABCB - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 16,638 shares of the bank's stock, valued at approximately $1,502,000.
A number of other hedge funds have also made changes to their positions in ABCB. Artemis Investment Management LLP acquired a new position in shares of Ameris Bancorp during the 4th quarter valued at $1,667,000. Jennison Associates LLC lifted its holdings in shares of Ameris Bancorp by 31.3% in the fourth quarter. Jennison Associates LLC now owns 1,741,214 shares of the bank's stock valued at $129,320,000 after buying an additional 414,920 shares during the period. UBS Group AG lifted its holdings in shares of Ameris Bancorp by 10.7% in the fourth quarter. UBS Group AG now owns 271,568 shares of the bank's stock valued at $20,169,000 after buying an additional 26,320 shares during the period. M&T Bank Corp acquired a new stake in shares of Ameris Bancorp in the fourth quarter valued at $8,262,000. Finally, Impax Asset Management Group plc bought a new position in Ameris Bancorp during the fourth quarter valued at about $7,427,000. Institutional investors and hedge funds own 91.60% of the company's stock.
Ameris Bancorp Stock Performance
ABCB opened at $89.79 on Monday. 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 firm has a market cap of $6.03 billion, a PE ratio of 17.23 and a beta of 0.92. The business has a fifty day simple moving average of $88.91 and a 200-day simple moving average of $84.23. Ameris Bancorp has a fifty-two week low of $68.80 and a fifty-two week high of $93.22.
Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last announced its earnings results on Thursday, July 23rd. The bank reported $1.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.66 by ($0.06). Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.The company had revenue of $317.78 million for the quarter, compared to analyst estimates of $323.78 million. During the same period last year, the firm earned $1.59 earnings per share. As a group, equities analysts predict that Ameris Bancorp will post 4.99 EPS for the current fiscal year.
Ameris Bancorp Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Tuesday, June 30th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. Ameris Bancorp's dividend payout ratio (DPR) is currently 14.47%.
Analyst Ratings Changes
ABCB has been the topic of a number of research analyst reports. Piper Sandler lowered their target price on Ameris Bancorp from $96.00 to $92.00 and set a "neutral" rating on the stock in a report on Monday, July 27th. Truist Financial cut their price target on shares of Ameris Bancorp from $92.00 to $90.00 and set a "hold" rating for the company in a report on Tuesday, July 28th. Stephens set a $88.00 price objective on shares of Ameris Bancorp in a research report on Monday, July 27th. Morgan Stanley raised shares of Ameris Bancorp to an "overweight" rating in a research note on Wednesday, June 24th. Finally, DA Davidson boosted their target price on shares of Ameris Bancorp from $98.00 to $100.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $91.67.
View Our Latest Analysis on ABCB
About Ameris Bancorp
(
Free Report)
Ameris Bancorp is a bank holding company headquartered in Atlanta, Georgia. Through its principal subsidiary, Ameris Bank, the company offers a broad range of commercial and retail banking services to individuals, small businesses, middle market companies and agricultural customers. Its core business lines encompass deposit services, lending solutions, treasury management, mortgage origination and servicing, insurance products and wealth management.
Ameris Bancorp operates a network of branches and loan production offices across the southeastern United States, including Georgia, Alabama, Florida, North Carolina, South Carolina and Tennessee.
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