Ameris Bancorp $ABCB Shares Sold by Maltese Capital Management LLC

Maltese Capital Management LLC lessened its stake in Ameris Bancorp (NASDAQ:ABCB) by 45.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 129,000 shares of the bank’s stock after selling 108,500 shares during the quarter. Ameris Bancorp makes up approximately 1.4% of Maltese Capital Management LLC’s holdings, making the stock its 23rd biggest holding. Maltese Capital Management LLC owned about 0.19% of Ameris Bancorp worth $9,457,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Salomon & Ludwin LLC acquired a new stake in Ameris Bancorp during the third quarter valued at approximately $33,000. Allworth Financial LP lifted its stake in Ameris Bancorp by 1,567.6% during the second quarter. Allworth Financial LP now owns 567 shares of the bank’s stock worth $37,000 after purchasing an additional 533 shares during the last quarter. Covestor Ltd boosted its holdings in Ameris Bancorp by 51.5% in the third quarter. Covestor Ltd now owns 547 shares of the bank’s stock worth $40,000 after purchasing an additional 186 shares during the period. Aster Capital Management DIFC Ltd increased its stake in Ameris Bancorp by 395.4% during the third 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 last quarter. Finally, Smartleaf Asset Management LLC increased its stake in Ameris Bancorp by 48.8% during the third quarter. Smartleaf Asset Management LLC now owns 1,076 shares of the bank’s stock valued at $80,000 after purchasing an additional 353 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Ameris Bancorp Stock Performance

Shares of ABCB stock opened at $75.22 on Tuesday. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of 14.44 and a beta of 0.97. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. Ameris Bancorp has a 12-month low of $48.27 and a 12-month high of $87.98. The business has a 50 day simple moving average of $80.41 and a 200 day simple moving average of $76.53.

Ameris Bancorp (NASDAQ:ABCB) last announced its earnings results on Thursday, January 29th. The bank reported $1.59 EPS for the quarter, beating the consensus estimate of $1.56 by $0.03. The business 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 period in the prior year, the business posted $1.38 earnings per share. On average, equities research analysts anticipate that Ameris Bancorp will post 4.99 EPS for the current year.

Analyst Upgrades and Downgrades

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

About Ameris Bancorp

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.