iSAM Funds UK Ltd Makes New Investment in Ameris Bancorp $ABCB

iSAM Funds UK Ltd acquired a new position in shares of Ameris Bancorp (NASDAQ:ABCB) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 6,500 shares of the bank’s stock, valued at approximately $587,000.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of Ameris Bancorp by 5.2% in the second quarter. GAMMA Investing LLC now owns 2,546 shares of the bank’s stock worth $230,000 after purchasing an additional 125 shares in the last quarter. Inspire Investing LLC grew its position in Ameris Bancorp by 2.0% in the fourth quarter. Inspire Investing LLC now owns 6,308 shares of the bank’s stock worth $468,000 after acquiring an additional 125 shares in the last quarter. Maryland State Retirement & Pension System increased its stake in shares of Ameris Bancorp by 1.4% during the 4th quarter. Maryland State Retirement & Pension System now owns 9,365 shares of the bank’s stock worth $696,000 after purchasing an additional 133 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of Ameris Bancorp by 1.6% in the 4th quarter. HighTower Advisors LLC now owns 9,054 shares of the bank’s stock valued at $672,000 after purchasing an additional 143 shares during the last quarter. Finally, Lido Advisors LLC lifted its position in shares of Ameris Bancorp by 2.6% in the fourth quarter. Lido Advisors LLC now owns 6,456 shares of the bank’s stock worth $476,000 after buying an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. DA Davidson upped their target price on Ameris Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Truist Financial lowered their price objective on Ameris Bancorp from $92.00 to $90.00 and set a “hold” rating on the stock in a research note on Tuesday, July 28th. Stephens set a $88.00 price objective on shares of Ameris Bancorp in a research note on Monday, July 27th. Morgan Stanley raised shares of Ameris Bancorp to an “overweight” rating in a report on Wednesday, June 24th. Finally, Piper Sandler reduced their target price on Ameris Bancorp from $96.00 to $92.00 and set a “neutral” rating on the stock in a report on Monday, July 27th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $91.67.

Ameris Bancorp Stock Performance

Shares of NASDAQ:ABCB opened at $85.16 on Thursday. The firm’s 50 day simple moving average is $88.55 and its 200 day simple moving average is $84.53. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 16.34 and a beta of 0.92. Ameris Bancorp has a fifty-two week low of $68.80 and a fifty-two week high of $93.22.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $1.60 earnings per share (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 firm had revenue of $317.78 million during the quarter, compared to analyst estimates of $323.78 million. During the same period last year, the firm earned $1.59 EPS. As a group, sell-side analysts forecast that Ameris Bancorp will post 4.99 earnings per share for the current year.

Ameris Bancorp Announces Dividend

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

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.