Peregrine Capital Management LLC raised its position in shares of Ameris Bancorp (NASDAQ:ABCB) by 1.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 180,414 shares of the bank’s stock after acquiring an additional 2,585 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.26% of Ameris Bancorp worth $4,256,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the business. State Street Corp raised its holdings in shares of Ameris Bancorp by 4.1% during the first quarter. State Street Corp now owns 2,550,370 shares of the bank’s stock valued at $60,983,000 after acquiring an additional 99,578 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Ameris Bancorp by 11.9% in the first quarter. Jennison Associates LLC now owns 1,606,702 shares of the bank’s stock valued at $38,175,000 after purchasing an additional 170,643 shares during the last quarter. Polaris Capital Management LLC increased its holdings in shares of Ameris Bancorp by 1.1% in the first quarter. Polaris Capital Management LLC now owns 1,120,069 shares of the bank’s stock valued at $26,613,000 after purchasing an additional 12,400 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Ameris Bancorp by 6.8% in the first quarter. Geode Capital Management LLC now owns 944,262 shares of the bank’s stock valued at $22,435,000 after purchasing an additional 60,299 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Ameris Bancorp by 6.4% in the first quarter. Wells Fargo & Company MN now owns 624,580 shares of the bank’s stock valued at $14,840,000 after purchasing an additional 37,752 shares during the last quarter. 84.24% of the stock is owned by institutional investors and hedge funds.
Several research firms recently commented on ABCB. Zacks Investment Research cut Ameris Bancorp from a “buy” rating to a “hold” rating in a report on Friday. Stephens reaffirmed a “buy” rating and issued a $31.00 price target on shares of Ameris Bancorp in a report on Friday, April 24th. DA Davidson began coverage on Ameris Bancorp in a report on Thursday, May 21st. They issued a “buy” rating and a $25.00 price target for the company. SunTrust Banks raised their target price on Ameris Bancorp from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Finally, ValuEngine raised Ameris Bancorp from a “strong sell” rating to a “sell” rating in a research note on Friday, May 1st. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $32.17.
ABCB opened at $23.08 on Friday. Ameris Bancorp has a 52 week low of $17.12 and a 52 week high of $44.90. The business has a fifty day simple moving average of $22.73 and a 200-day simple moving average of $28.00. The firm has a market cap of $1.60 billion, a P/E ratio of 11.89 and a beta of 1.48. The company has a quick ratio of 0.98, a current ratio of 1.07 and a debt-to-equity ratio of 0.63.
Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings results on Monday, July 27th. The bank reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. Ameris Bancorp had a return on equity of 8.86% and a net margin of 12.69%. The business had revenue of $284.77 million during the quarter, compared to analyst estimates of $218.95 million. During the same period last year, the business posted $0.96 earnings per share. Sell-side analysts expect that Ameris Bancorp will post 2.93 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.15 per share. The ex-dividend date was Monday, June 29th. This represents a $0.60 annualized dividend and a dividend yield of 2.60%. Ameris Bancorp’s dividend payout ratio is currently 15.79%.
Ameris Bancorp Profile
Ameris Bancorp operates as the bank holding company for Ameris Bank that provides banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, and South Carolina. The company operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division.
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