Ameris Bancorp (NASDAQ:ABCB) Stake Raised by GAMMA Investing LLC

GAMMA Investing LLC grew its position in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 4,935.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,069 shares of the bank's stock after buying an additional 65,737 shares during the quarter. GAMMA Investing LLC owned 0.10% of Ameris Bancorp worth $3,861,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ABCB. Picton Mahoney Asset Management grew its holdings in Ameris Bancorp by 2,436.8% during the 4th quarter. Picton Mahoney Asset Management now owns 482 shares of the bank's stock valued at $30,000 after buying an additional 463 shares during the last quarter. Park Square Financial Group LLC purchased a new position in Ameris Bancorp in the 4th quarter valued at about $37,000. Versant Capital Management Inc boosted its stake in shares of Ameris Bancorp by 84.1% during the 1st quarter. Versant Capital Management Inc now owns 731 shares of the bank's stock worth $42,000 after purchasing an additional 334 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Ameris Bancorp by 167.5% during 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 in the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in shares of Ameris Bancorp in the fourth quarter valued at approximately $105,000. Institutional investors and hedge funds own 91.64% of the company's stock.

Ameris Bancorp Stock Performance

NASDAQ:ABCB traded down $0.35 during trading hours on Thursday, reaching $62.25. 260,845 shares of the stock were exchanged, compared to its average volume of 404,412. Ameris Bancorp has a 52 week low of $46.49 and a 52 week high of $74.56. 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 stock has a market capitalization of $4.29 billion, a P/E ratio of 11.95 and a beta of 0.93. The firm has a 50 day simple moving average of $58.54 and a 200-day simple moving average of $61.67.

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

Ameris Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 7th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, June 30th. This represents a $0.80 annualized dividend and a yield of 1.29%. Ameris Bancorp's payout ratio is presently 14.81%.

Analyst Upgrades and Downgrades

ABCB has been the subject of several recent analyst reports. 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. Stephens restated an "equal weight" rating and set a $63.00 price objective on shares of Ameris Bancorp in a report on Tuesday, April 29th. Raymond James dropped their target price on Ameris Bancorp from $71.00 to $65.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Finally, Piper Sandler began coverage on Ameris Bancorp in a research note on Friday, April 4th. They issued an "overweight" rating and a $74.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $71.43.

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.