Townsquare Capital LLC Buys 5,616 Shares of Ameris Bancorp (NASDAQ:ABCB)

Townsquare Capital LLC grew its stake in Ameris Bancorp (NASDAQ:ABCB) by 16.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 38,792 shares of the bank’s stock after acquiring an additional 5,616 shares during the period. Townsquare Capital LLC’s holdings in Ameris Bancorp were worth $2,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in Ameris Bancorp by 5.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,663 shares of the bank’s stock valued at $2,210,000 after acquiring an additional 2,443 shares during the period. Atria Investments Inc grew its position in shares of Ameris Bancorp by 7.8% in the first quarter. Atria Investments Inc now owns 27,324 shares of the bank’s stock valued at $1,322,000 after purchasing an additional 1,982 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Ameris Bancorp by 66.1% during the second quarter. GAMMA Investing LLC now owns 819 shares of the bank’s stock worth $41,000 after purchasing an additional 326 shares during the period. Moody National Bank Trust Division lifted its holdings in Ameris Bancorp by 15.9% during the 2nd quarter. Moody National Bank Trust Division now owns 11,502 shares of the bank’s stock worth $579,000 after purchasing an additional 1,581 shares during the last quarter. Finally, CWM LLC boosted its stake in Ameris Bancorp by 33.5% in the 2nd quarter. CWM LLC now owns 1,310 shares of the bank’s stock valued at $66,000 after purchasing an additional 329 shares during the period. Institutional investors and hedge funds own 91.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ABCB. Stephens increased their price objective on Ameris Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Raymond James raised shares of 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 raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Truist Financial lowered their target price on shares of Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Ameris Bancorp presently has an average rating of “Moderate Buy” and an average target price of $66.67.

Insider Activity at Ameris Bancorp

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

Ameris Bancorp Price Performance

Shares of NASDAQ:ABCB opened at $70.28 on Friday. The firm has a 50 day moving average of $65.18 and a 200-day moving average of $58.25. Ameris Bancorp has a 12 month low of $42.25 and a 12 month high of $74.56. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $4.85 billion, a PE ratio of 14.64 and a beta of 1.01.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $1.38 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 the consensus estimate of $290.60 million. Ameris Bancorp had a net margin of 20.08% and a return on equity of 9.18%. During the same period in the previous year, the business earned $1.16 earnings per share. On average, equities research analysts predict that Ameris Bancorp will post 4.83 EPS for the current fiscal year.

Ameris Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.60 annualized dividend and a dividend yield of 0.85%. Ameris Bancorp’s dividend payout ratio is currently 12.50%.

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.