iSAM Funds UK Ltd Invests $587,000 in Ameris Bancorp $ABCB

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

Several other hedge funds also recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Ameris Bancorp in the second quarter valued at approximately $34,000. Measured Wealth Private Client Group LLC bought a new position in shares of Ameris Bancorp during the 3rd quarter worth approximately $45,000. Danske Bank A S acquired a new position in shares of Ameris Bancorp during the 3rd quarter worth approximately $51,000. Public Employees Retirement System of Ohio acquired a new position in shares of Ameris Bancorp during the 2nd quarter worth approximately $66,000. Finally, Allworth Financial LP bought a new stake in Ameris Bancorp in the 2nd quarter valued at $67,000. Institutional investors own 91.60% of the company’s stock.

Ameris Bancorp Stock Performance

NASDAQ:ABCB opened at $85.16 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. Ameris Bancorp has a 1-year low of $68.80 and a 1-year high of $93.22. The stock’s 50-day moving average is $88.55 and its 200-day moving average is $84.53. The stock has a market cap of $5.71 billion, a P/E ratio of 16.34 and a beta of 0.92.

Ameris Bancorp (NASDAQ:ABCB) last released 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). The business had revenue of $317.78 million for the quarter, compared to the consensus estimate of $323.78 million. Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. During the same period in the previous year, the business posted $1.59 EPS. Equities research analysts anticipate that Ameris Bancorp will post 4.99 earnings per share for the current year.

Ameris Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Tuesday, June 30th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Ameris Bancorp’s payout ratio is currently 14.47%.

Wall Street Analyst Weigh In

ABCB has been the topic of several research analyst reports. Raymond James Financial cut shares of Ameris Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 1st. Morgan Stanley raised Ameris Bancorp to an “overweight” rating in a report on Wednesday, June 24th. DA Davidson increased their target price on Ameris Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Stephens set a $88.00 price objective on shares of Ameris Bancorp in a research note on Monday, July 27th. Finally, Truist Financial reduced their price target on shares of Ameris Bancorp from $92.00 to $90.00 and set a “hold” rating on the stock in a research report on Tuesday, July 28th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $91.67.

Ameris Bancorp 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.