Graham Capital Management L.P. Takes $484,000 Position in Ameris Bancorp (NASDAQ:ABCB)

Graham Capital Management L.P. bought a new stake in shares of Ameris Bancorp (NASDAQ:ABCB) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,741 shares of the bank’s stock, valued at approximately $484,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Picton Mahoney Asset Management boosted its stake in shares of Ameris Bancorp by 2,436.8% during the fourth quarter. Picton Mahoney Asset Management now owns 482 shares of the bank’s stock valued at $30,000 after purchasing an additional 463 shares during the period. R Squared Ltd purchased a new stake in Ameris Bancorp during the 4th quarter valued at $51,000. Blue Trust Inc. grew its holdings in Ameris Bancorp by 56.1% in the 4th quarter. Blue Trust Inc. now owns 1,113 shares of the bank’s stock worth $69,000 after acquiring an additional 400 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Ameris Bancorp by 167.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the bank’s stock worth $90,000 after acquiring an additional 896 shares during the last quarter. Finally, USA Financial Formulas purchased a new position in shares of Ameris Bancorp in the fourth quarter valued at about $98,000. 91.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Douglas D. Strange purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost of $56.95 per share, with a total value of $56,950.00. Following the transaction, the insider now directly owns 19,403 shares in the company, valued at $1,105,000.85. This trade represents a 5.43% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.40% of the company’s stock.

Ameris Bancorp Stock Up 0.4%

Shares of NASDAQ:ABCB opened at $63.30 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. Ameris Bancorp has a 52-week low of $45.89 and a 52-week high of $74.56. The firm has a market capitalization of $4.36 billion, a P/E ratio of 12.15 and a beta of 0.91. The stock has a 50 day moving average price of $56.65 and a 200-day moving average price of $62.39.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings data on Monday, April 28th. The bank reported $1.28 EPS for the quarter, beating the consensus estimate of $1.12 by $0.16. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%. The business had revenue of $285.86 million during the quarter, compared to analyst estimates of $276.06 million. During the same quarter last year, the firm posted $1.10 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, equities research analysts anticipate that Ameris Bancorp will post 4.99 EPS for the current fiscal year.

Ameris Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Monday, March 31st were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.26%. The ex-dividend date was Monday, March 31st. Ameris Bancorp’s payout ratio is currently 14.81%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Piper Sandler began coverage on Ameris Bancorp in a report on Friday, April 4th. They set an “overweight” rating and a $74.00 price target on the stock. Raymond James cut their price objective on Ameris Bancorp from $71.00 to $65.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Stephens reaffirmed an “equal weight” rating and issued a $63.00 price target on shares of Ameris Bancorp in a research note on Tuesday, April 29th. Finally, Piper Sandler Companies lifted their price target on shares of Ameris Bancorp to $74.00 and gave the company a “buy” rating in a report on Monday, April 7th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Ameris Bancorp currently has an average rating of “Moderate Buy” and an average price target of $71.43.

About Ameris Bancorp

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.