Ameris Bancorp $ABCB Stock Position Decreased by Peregrine Capital Management LLC

Peregrine Capital Management LLC decreased its position in Ameris Bancorp (NASDAQ:ABCB) by 8.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 69,287 shares of the bank’s stock after selling 6,706 shares during the quarter. Peregrine Capital Management LLC owned about 0.10% of Ameris Bancorp worth $5,404,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Ameris Bancorp by 0.4% during the 4th quarter. State Street Corp now owns 3,199,365 shares of the bank’s stock worth $238,250,000 after purchasing an additional 12,475 shares during the last quarter. North Reef Capital Management LP lifted its stake in shares of Ameris Bancorp by 38.2% in the 4th quarter. North Reef Capital Management LP now owns 2,737,028 shares of the bank’s stock valued at $203,279,000 after purchasing an additional 755,967 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Ameris Bancorp by 31.3% in the 4th quarter. Jennison Associates LLC now owns 1,741,214 shares of the bank’s stock valued at $129,320,000 after purchasing an additional 414,920 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Ameris Bancorp by 3.2% in the third quarter. JPMorgan Chase & Co. now owns 1,258,436 shares of the bank’s stock worth $92,256,000 after purchasing an additional 39,478 shares in the last quarter. Finally, Nuveen LLC boosted its holdings in Ameris Bancorp by 1.4% in the fourth quarter. Nuveen LLC now owns 1,083,272 shares of the bank’s stock worth $80,455,000 after purchasing an additional 14,735 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Truist Financial increased their target price on shares of Ameris Bancorp from $85.00 to $89.00 and gave the stock a “hold” rating in a research report on Monday, April 27th. DA Davidson upped their price target on Ameris Bancorp from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Raymond James Financial downgraded Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Piper Sandler reissued an “overweight” rating and set a $96.00 price objective on shares of Ameris Bancorp in a report on Wednesday, June 24th. Finally, Stephens raised their price objective on Ameris Bancorp from $87.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, April 27th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $92.17.

Ameris Bancorp Price Performance

NASDAQ ABCB opened at $91.66 on Thursday. Ameris Bancorp has a 1 year low of $64.64 and a 1 year high of $92.31. The company has a fifty day simple moving average of $85.97 and a 200 day simple moving average of $81.68. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The company has a market cap of $6.17 billion, a P/E ratio of 17.59 and a beta of 0.91.

Ameris Bancorp (NASDAQ:ABCB) last released its earnings results on Thursday, April 23rd. The bank reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The firm had revenue of $314.36 million during the quarter, compared to analyst estimates 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 in the previous year, the business earned $1.28 EPS. On average, sell-side analysts predict that Ameris Bancorp will post 4.99 EPS for the current year.

Ameris Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Tuesday, June 30th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. Ameris Bancorp’s payout ratio 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.