Ameris Bancorp $ABCB Stake Lessened by Maltese Capital Management LLC

Maltese Capital Management LLC lessened its holdings in Ameris Bancorp (NASDAQ:ABCB) by 45.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 129,000 shares of the bank’s stock after selling 108,500 shares during the quarter. Ameris Bancorp comprises about 1.4% of Maltese Capital Management LLC’s investment portfolio, making the stock its 23rd largest position. Maltese Capital Management LLC’s holdings in Ameris Bancorp were worth $9,457,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of ABCB. Royal Bank of Canada lifted its stake in Ameris Bancorp by 9.5% in the 1st quarter. Royal Bank of Canada now owns 29,288 shares of the bank’s stock worth $1,687,000 after acquiring an additional 2,546 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Ameris Bancorp by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,181 shares of the bank’s stock valued at $2,256,000 after purchasing an additional 1,703 shares during the period. NewEdge Advisors LLC increased its holdings in shares of Ameris Bancorp by 36.7% in the 1st quarter. NewEdge Advisors LLC now owns 11,651 shares of the bank’s stock valued at $671,000 after purchasing an additional 3,129 shares during the period. United Services Automobile Association purchased a new stake in shares of Ameris Bancorp in the first quarter worth approximately $243,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Ameris Bancorp by 7.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 187,024 shares of the bank’s stock worth $10,767,000 after purchasing an additional 13,633 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Ameris Bancorp Stock Up 0.1%

Shares of ABCB stock opened at $75.22 on Tuesday. The stock’s 50 day simple moving average is $80.41 and its 200 day simple moving average is $76.53. 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 twelve month low of $48.27 and a twelve month high of $87.98. The company has a market capitalization of $5.11 billion, a price-to-earnings ratio of 14.44 and a beta of 0.97.

Ameris Bancorp (NASDAQ:ABCB) last announced its earnings results on Thursday, January 29th. The bank reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.03. The firm had revenue of $309.92 million during the quarter, compared to the consensus estimate of $310.48 million. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.During the same quarter in the prior year, the company earned $1.38 EPS. As a group, research analysts predict that Ameris Bancorp will post 4.99 EPS for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on ABCB. DA Davidson set a $94.00 target price on shares of Ameris Bancorp in a research report on Monday, February 2nd. Truist Financial upped their price target on shares of Ameris Bancorp from $83.00 to $86.00 and gave the stock a “hold” rating in a research note on Monday, February 2nd. Keefe, Bruyette & Woods increased their price objective on Ameris Bancorp from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Finally, Stephens lifted their price objective on Ameris Bancorp from $79.00 to $87.00 and gave the company an “equal weight” rating in a research report on Monday, February 2nd. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Ameris Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $86.50.

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.