Ameris Bancorp $ABCB Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its stake in Ameris Bancorp (NASDAQ:ABCB) by 43.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,903 shares of the bank’s stock after selling 36,226 shares during the quarter. SG Americas Securities LLC owned 0.07% of Ameris Bancorp worth $3,736,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. State Street Corp lifted its holdings in shares of Ameris Bancorp by 0.4% during the fourth 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 period. North Reef Capital Management LP grew its position in 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 buying an additional 755,967 shares during the last quarter. Jennison Associates LLC increased its stake in 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 buying an additional 414,920 shares during the period. JPMorgan Chase & Co. increased its stake in Ameris Bancorp by 3.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,258,436 shares of the bank’s stock valued at $92,256,000 after buying an additional 39,478 shares during the period. Finally, Nuveen LLC raised its position in Ameris Bancorp by 1.4% during the 4th quarter. Nuveen LLC now owns 1,083,272 shares of the bank’s stock worth $80,455,000 after buying an additional 14,735 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Ameris Bancorp Price Performance

Ameris Bancorp stock opened at $90.27 on Tuesday. Ameris Bancorp has a one year low of $64.30 and a one year high of $91.41. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. The business has a fifty day moving average of $85.74 and a two-hundred day moving average of $81.50. The company has a market cap of $6.07 billion, a P/E ratio of 17.33 and a beta of 0.91.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly 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 business 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 period in the prior year, the company posted $1.28 EPS. As a group, analysts predict that Ameris Bancorp will post 4.99 earnings per share for the current fiscal year.

Ameris Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. Ameris Bancorp’s payout ratio is currently 12.58%.

Analyst Upgrades and Downgrades

ABCB has been the subject of several recent analyst reports. Raymond James Financial restated an “outperform” rating and issued a $92.00 target price on shares of Ameris Bancorp in a research note on Monday, April 27th. Morgan Stanley upgraded shares of Ameris Bancorp to an “overweight” rating in a research note on Wednesday, June 24th. Truist Financial increased their price target on shares of Ameris Bancorp from $85.00 to $89.00 and gave the stock a “hold” rating in a report on Monday, April 27th. Piper Sandler restated an “overweight” rating and issued a $96.00 price objective on shares of Ameris Bancorp in a research report on Wednesday, June 24th. Finally, DA Davidson lifted their price objective on Ameris Bancorp from $94.00 to $98.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $92.17.

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.