Ameris Bancorp (NASDAQ:ABCB) Shares Sold by PL Capital Advisors LLC

PL Capital Advisors LLC lowered its stake in Ameris Bancorp (NASDAQ:ABCB) by 27.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,497 shares of the bank’s stock after selling 30,000 shares during the period. Ameris Bancorp makes up approximately 1.4% of PL Capital Advisors LLC’s portfolio, making the stock its 21st biggest holding. PL Capital Advisors LLC owned about 0.11% of Ameris Bancorp worth $4,164,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. First Eagle Investment Management LLC increased its holdings in shares of Ameris Bancorp by 81.7% in the third quarter. First Eagle Investment Management LLC now owns 178,961 shares of the bank’s stock valued at $6,870,000 after purchasing an additional 80,466 shares during the period. Prospector Partners LLC acquired a new position in shares of Ameris Bancorp in the third quarter valued at approximately $5,924,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Ameris Bancorp by 6.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 687,567 shares of the bank’s stock valued at $26,396,000 after purchasing an additional 38,863 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in shares of Ameris Bancorp in the fourth quarter valued at approximately $219,000. Finally, Illinois Municipal Retirement Fund purchased a new stake in shares of Ameris Bancorp in the third quarter valued at approximately $1,466,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. DA Davidson restated a “buy” rating on shares of Ameris Bancorp in a research note on Monday, January 15th. StockNews.com downgraded Ameris Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, March 21st. Stephens restated an “equal weight” rating and issued a $53.00 price target on shares of Ameris Bancorp in a research note on Friday. Finally, Truist Financial decreased their price target on Ameris Bancorp from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $50.25.

Ameris Bancorp Stock Performance

NASDAQ ABCB opened at $47.88 on Friday. Ameris Bancorp has a fifty-two week low of $28.33 and a fifty-two week high of $53.99. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of 11.65 and a beta of 1.05. The business has a fifty day moving average of $46.59 and a 200-day moving average of $46.22. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.19.

Ameris Bancorp (NASDAQ:ABCB) last released its earnings results on Friday, April 26th. The bank reported $1.10 EPS for the quarter, beating the consensus estimate of $1.06 by $0.04. The firm had revenue of $267.27 million during the quarter, compared to analyst estimates of $258.05 million. Ameris Bancorp had a return on equity of 8.71% and a net margin of 18.06%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.86 earnings per share. As a group, analysts predict that Ameris Bancorp will post 4.47 earnings per share for the current fiscal year.

Ameris Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 8th. Investors of record on Sunday, March 31st were paid a $0.15 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.60 annualized dividend and a yield of 1.25%. Ameris Bancorp’s payout ratio is currently 14.60%.

Insider Activity at Ameris Bancorp

In related news, insider Jon S. Edwards sold 7,500 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $47.35, for a total value of $355,125.00. Following the completion of the transaction, the insider now directly owns 59,691 shares in the company, valued at $2,826,368.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.60% of the company’s stock.

Ameris Bancorp Company Profile

Ameris Bancorp operates as the bank holding company for Ameris Bank that provides range of banking services to retail and commercial customers. It operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division. The company offers commercial and retail checking, regular interest-bearing savings, money market, individual retirement, and certificates of deposit accounts.