GSA Capital Partners LLP Purchases New Holdings in Ameris Bancorp $ABCB

GSA Capital Partners LLP acquired a new position in Ameris Bancorp (NASDAQ:ABCB) in the second quarter, Holdings Channel reports. The firm acquired 16,638 shares of the bank’s stock, valued at approximately $1,502,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABCB. Measured Wealth Private Client Group LLC acquired a new stake in Ameris Bancorp during the 3rd quarter valued at $45,000. Danske Bank A S purchased a new stake in shares of Ameris Bancorp in the third quarter valued at $51,000. Torren Management LLC purchased a new stake in shares of Ameris Bancorp in the fourth quarter valued at $76,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Ameris Bancorp by 316.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,059 shares of the bank’s stock worth $79,000 after buying an additional 805 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Ameris Bancorp by 432.9% in the second quarter. EverSource Wealth Advisors LLC now owns 1,716 shares of the bank’s stock worth $111,000 after buying an additional 1,394 shares during the period. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Ameris Bancorp Trading Up 0.0%

Shares of NASDAQ:ABCB opened at $89.79 on Monday. The firm has a fifty day moving average of $88.91 and a two-hundred day moving average of $84.23. The firm has a market capitalization of $6.03 billion, a P/E ratio of 17.23 and a beta of 0.92. Ameris Bancorp has a 12-month low of $68.80 and a 12-month high of $93.22. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings results on Thursday, July 23rd. The bank reported $1.60 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.06). Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. The company had revenue of $317.78 million for the quarter, compared to analysts’ expectations of $323.78 million. During the same quarter in the prior year, the firm earned $1.59 earnings per share. On average, equities analysts expect that Ameris Bancorp will post 4.99 EPS for the current fiscal year.

Ameris Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Tuesday, June 30th were paid a $0.20 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. Ameris Bancorp’s payout ratio is 14.47%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ABCB. Piper Sandler lowered their price target 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 decreased their price objective on Ameris Bancorp from $92.00 to $90.00 and set a “hold” rating for the company in a research report on Tuesday, July 28th. Raymond James Financial lowered Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 1st. DA Davidson lifted their target price on Ameris Bancorp from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Finally, Stephens set a $88.00 target price on Ameris Bancorp in a report on Monday, July 27th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $91.67.

Ameris Bancorp Company Profile

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.