Ameris Bancorp (NASDAQ:ABCB) Position Increased by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in Ameris Bancorp (NASDAQ:ABCB) by 17.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,332 shares of the bank’s stock after buying an additional 202 shares during the period. GAMMA Investing LLC’s holdings in Ameris Bancorp were worth $83,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of ABCB. Dimensional Fund Advisors LP raised its position in shares of Ameris Bancorp by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 4,374,719 shares of the bank’s stock worth $220,263,000 after purchasing an additional 45,240 shares during the period. Independent Advisor Alliance raised its holdings in Ameris Bancorp by 0.8% during the 2nd quarter. Independent Advisor Alliance now owns 2,533,580 shares of the bank’s stock worth $127,566,000 after buying an additional 19,287 shares during the period. Principal Financial Group Inc. lifted its stake in Ameris Bancorp by 4.6% during the third quarter. Principal Financial Group Inc. now owns 1,263,487 shares of the bank’s stock valued at $78,829,000 after buying an additional 55,473 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Ameris Bancorp by 9.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 907,140 shares of the bank’s stock worth $56,596,000 after buying an additional 79,060 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Ameris Bancorp by 1.4% in the third quarter. Victory Capital Management Inc. now owns 863,294 shares of the bank’s stock worth $53,861,000 after acquiring an additional 12,054 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Insider Transactions at Ameris Bancorp

In other news, Director Robert Dale Ezzell sold 8,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $69.91, for a total transaction of $559,280.00. Following the completion of the sale, the director now owns 27,444 shares in the company, valued at approximately $1,918,610.04. This represents a 22.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.50% of the stock is currently owned by company insiders.

Ameris Bancorp Price Performance

ABCB opened at $59.46 on Friday. The stock has a fifty day moving average price of $66.47 and a 200 day moving average price of $61.73. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Ameris Bancorp has a 1 year low of $44.00 and a 1 year high of $74.56. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 12.39 and a beta of 1.06.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.13. The business had revenue of $424.86 million during the quarter, compared to analyst estimates of $290.60 million. Ameris Bancorp had a return on equity of 9.18% and a net margin of 20.08%. During the same period in the previous year, the company earned $1.16 EPS. Analysts forecast that Ameris Bancorp will post 4.83 EPS for the current fiscal year.

Ameris Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Tuesday, December 31st were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from Ameris Bancorp’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a yield of 1.35%. Ameris Bancorp’s payout ratio is 16.67%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Stephens upped their price target on shares of Ameris Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. Keefe, Bruyette & Woods raised their target price on Ameris Bancorp from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Raymond James raised Ameris Bancorp from a “market perform” rating to an “outperform” rating and set a $67.00 price target on the stock in a research report on Monday, October 28th. StockNews.com upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Truist Financial dropped their target price on Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.17.

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.