Cubist Systematic Strategies LLC Grows Holdings in Ameris Bancorp (NASDAQ:ABCB)

Cubist Systematic Strategies LLC lifted its position in shares of Ameris Bancorp (NASDAQ:ABCB) by 565.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,659 shares of the bank’s stock after acquiring an additional 75,329 shares during the quarter. Cubist Systematic Strategies LLC owned 0.13% of Ameris Bancorp worth $5,547,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ABCB. Barclays PLC boosted its position in Ameris Bancorp by 107.7% during the third quarter. Barclays PLC now owns 140,001 shares of the bank’s stock worth $8,735,000 after purchasing an additional 72,599 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Ameris Bancorp by 4.6% during the 3rd 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. GAMMA Investing LLC grew its stake 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 period. Moody National Bank Trust Division increased its holdings in Ameris Bancorp by 9.3% in the 4th quarter. Moody National Bank Trust Division now owns 14,611 shares of the bank’s stock worth $914,000 after acquiring an additional 1,248 shares in the last quarter. Finally, USA Financial Formulas acquired a new position in Ameris Bancorp during the fourth quarter worth $98,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Ameris Bancorp Stock Performance

NASDAQ ABCB opened at $60.74 on Friday. Ameris Bancorp has a fifty-two week low of $45.89 and a fifty-two week high of $74.56. The firm has a market capitalization of $4.19 billion, a P/E ratio of 11.66 and a beta of 0.91. The stock’s fifty day moving average is $56.32 and its two-hundred day moving average is $62.39. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings data on Monday, April 28th. The bank reported $1.28 earnings per share (EPS) 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 firm had revenue of $285.86 million during the quarter, compared to analyst estimates of $276.06 million. During the same quarter in the prior year, the firm posted $1.10 earnings per share. Ameris Bancorp’s quarterly revenue was up 7.0% on a year-over-year basis. On average, research analysts anticipate that Ameris Bancorp will post 4.99 earnings per share for the current year.

Ameris Bancorp Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.32%. Ameris Bancorp’s dividend payout ratio is currently 14.81%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ABCB shares. Piper Sandler assumed coverage on shares of Ameris Bancorp in a research note on Friday, April 4th. They set an “overweight” rating and a $74.00 target price for the company. 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. Piper Sandler Companies raised their target price on Ameris Bancorp to $74.00 and gave the company a “buy” rating in a research report on Monday, April 7th. Finally, Raymond James dropped their price target on Ameris Bancorp from $71.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Two 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, Ameris Bancorp has an average rating of “Moderate Buy” and a consensus target price of $71.43.

Insider Activity

In other Ameris Bancorp news, insider Douglas D. Strange bought 1,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was bought at an average price of $56.95 per share, with a total value 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. The trade was a 5.43 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate 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.