Ameris Bancorp (NASDAQ:ABCB) Shares Purchased by Townsquare Capital LLC

Townsquare Capital LLC grew its position in shares of Ameris Bancorp (NASDAQ:ABCB) by 16.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 45,321 shares of the bank’s stock after purchasing an additional 6,529 shares during the quarter. Townsquare Capital LLC owned 0.07% of Ameris Bancorp worth $2,836,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. raised its position in Ameris Bancorp by 4.6% in the third quarter. Principal Financial Group Inc. now owns 1,263,487 shares of the bank’s stock worth $78,829,000 after acquiring an additional 55,473 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Ameris Bancorp by 30.7% during the fourth quarter. JPMorgan Chase & Co. now owns 952,058 shares of the bank’s stock valued at $59,570,000 after purchasing an additional 223,805 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Ameris Bancorp by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 917,396 shares of the bank’s stock worth $57,401,000 after buying an additional 10,256 shares in the last quarter. Congress Asset Management Co. grew its position in Ameris Bancorp by 1.5% in the fourth quarter. Congress Asset Management Co. now owns 821,554 shares of the bank’s stock worth $51,405,000 after buying an additional 12,216 shares during the last quarter. Finally, William Blair Investment Management LLC grew its position in Ameris Bancorp by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 789,271 shares of the bank’s stock worth $49,385,000 after buying an additional 19,150 shares during the last quarter. Institutional investors own 91.64% of the company’s stock.

Ameris Bancorp Trading Up 1.3 %

NASDAQ:ABCB opened at $52.35 on Wednesday. The stock’s 50-day moving average is $59.19 and its two-hundred day moving average is $63.03. 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 stock has a market cap of $3.62 billion, a PE ratio of 10.05 and a beta of 0.87. Ameris Bancorp has a fifty-two week low of $44.23 and a fifty-two week high of $74.56.

Ameris Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Monday, March 31st were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Monday, March 31st. Ameris Bancorp’s payout ratio is currently 15.36%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ABCB. Stephens restated an “equal weight” rating and issued a $71.00 target price on shares of Ameris Bancorp in a report on Friday, January 31st. Piper Sandler Companies boosted their price objective on Ameris Bancorp to $74.00 and gave the stock a “buy” rating in a report on Monday, April 7th. Raymond James reiterated an “outperform” rating and issued a $71.00 target price (up from $67.00) on shares of Ameris Bancorp in a report on Monday, February 3rd. Finally, Piper Sandler started coverage on shares of Ameris Bancorp in a research report on Friday, April 4th. They issued an “overweight” rating and a $74.00 target price on the stock. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Ameris Bancorp has an average rating of “Moderate Buy” and an average price target of $73.43.

Insider Transactions at Ameris Bancorp

In other Ameris Bancorp news, insider Douglas D. Strange acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average price of $56.95 per share, with a total value of $56,950.00. Following the completion of the transaction, the insider now 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.50% of the company’s stock.

Ameris Bancorp Company 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.