Maltese Capital Management LLC Sells 7,500 Shares of Ameris Bancorp $ABCB

Maltese Capital Management LLC trimmed its position in Ameris Bancorp (NASDAQ:ABCB) by 5.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 121,500 shares of the bank’s stock after selling 7,500 shares during the period. Ameris Bancorp accounts for 1.6% of Maltese Capital Management LLC’s investment portfolio, making the stock its 18th biggest position. Maltese Capital Management LLC owned about 0.18% of Ameris Bancorp worth $9,024,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Sound Income Strategies LLC bought a new position in Ameris Bancorp in the 4th quarter valued at $29,000. Measured Wealth Private Client Group LLC bought a new position in Ameris Bancorp in the 3rd quarter valued at $45,000. Danske Bank A S bought a new position in Ameris Bancorp in the 3rd quarter valued at $51,000. Aster Capital Management DIFC Ltd boosted its holdings in Ameris Bancorp by 395.4% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 748 shares of the bank’s stock valued at $55,000 after purchasing an additional 597 shares during the period. Finally, Torren Management LLC bought a new position in Ameris Bancorp in the 4th quarter valued at $76,000. 91.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ABCB has been the subject of several analyst reports. Stephens raised their price target on shares of Ameris Bancorp from $87.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, April 27th. Truist Financial raised their price target on shares of Ameris Bancorp from $85.00 to $89.00 and gave the company a “hold” rating in a report on Monday, April 27th. DA Davidson raised their price target on shares of Ameris Bancorp from $94.00 to $98.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Finally, Raymond James Financial restated an “outperform” rating and set a $92.00 price objective on shares of Ameris Bancorp in a research report on Monday, April 27th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Ameris Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.17.

Ameris Bancorp Price Performance

Shares of NASDAQ:ABCB opened at $87.49 on Tuesday. The stock has a market cap of $5.89 billion, a PE ratio of 16.79 and a beta of 0.91. The company’s fifty day moving average is $84.36 and its 200 day moving average is $80.63. Ameris Bancorp has a 52 week low of $59.54 and a 52 week high of $90.00. 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 issued its earnings results on Thursday, April 23rd. The bank reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The company had revenue of $314.36 million for the quarter, compared to analysts’ expectations of $309.58 million. Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. During the same quarter last year, the company earned $1.28 EPS. Research analysts anticipate that Ameris Bancorp will post 4.99 earnings per share for the current year.

Ameris Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 6th. Investors of record on Tuesday, March 31st were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Tuesday, March 31st. Ameris Bancorp’s dividend payout ratio (DPR) is presently 12.58%.

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.