GSA Capital Partners LLP Makes New $1.07 Million Investment in Ameris Bancorp $ABCB

GSA Capital Partners LLP acquired a new stake in shares of Ameris Bancorp (NASDAQ:ABCB) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,611 shares of the bank’s stock, valued at approximately $1,071,000.

Other hedge funds have also recently modified their holdings of the company. True Wealth Design LLC boosted its position in shares of Ameris Bancorp by 2,311.8% during the second quarter. True Wealth Design LLC now owns 410 shares of the bank’s stock worth $27,000 after acquiring an additional 393 shares during the last quarter. Salomon & Ludwin LLC purchased a new stake in Ameris Bancorp in the 3rd quarter worth $33,000. Covestor Ltd lifted its stake in Ameris Bancorp by 51.5% in the 3rd quarter. Covestor Ltd now owns 547 shares of the bank’s stock worth $40,000 after purchasing an additional 186 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Ameris Bancorp by 1,567.6% during the 2nd quarter. Allworth Financial LP now owns 567 shares of the bank’s stock valued at $37,000 after purchasing an additional 533 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Ameris Bancorp by 48.8% during the third quarter. Smartleaf Asset Management LLC now owns 1,076 shares of the bank’s stock valued at $80,000 after purchasing an additional 353 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Ameris Bancorp Trading Down 0.4%

ABCB opened at $82.86 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. The stock’s 50 day moving average price is $79.77 and its 200-day moving average price is $75.44. Ameris Bancorp has a one year low of $48.27 and a one year high of $87.98. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of 15.90 and a beta of 0.99.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings data on Thursday, January 29th. The bank reported $1.59 EPS for the quarter, beating the consensus estimate of $1.56 by $0.03. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.The company had revenue of $309.92 million for the quarter, compared to the consensus estimate of $310.48 million. During the same quarter in the prior year, the company posted $1.38 EPS. On average, equities analysts forecast that Ameris Bancorp will post 4.99 EPS for the current year.

Ameris Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Wednesday, December 31st were issued a $0.20 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. Ameris Bancorp’s dividend payout ratio is presently 13.33%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ABCB shares. Raymond James Financial reaffirmed an “outperform” rating and issued a $80.00 price objective (up previously from $73.00) on shares of Ameris Bancorp in a research note on Wednesday, October 29th. Keefe, Bruyette & Woods increased their price objective on shares of Ameris Bancorp from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. DA Davidson set a $94.00 target price on shares of Ameris Bancorp in a report on Monday, February 2nd. Piper Sandler set a $84.00 price target on shares of Ameris Bancorp in a report on Wednesday, October 29th. Finally, Stephens lifted their price target on Ameris Bancorp from $79.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Monday, February 2nd. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Ameris Bancorp currently has an average rating of “Moderate Buy” and an average price target of $86.50.

About Ameris Bancorp

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.