Ameris Bancorp (NASDAQ:ABCB) Shares Purchased by Peregrine Capital Management LLC

Peregrine Capital Management LLC boosted its stake in Ameris Bancorp (NASDAQ:ABCB) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 180,414 shares of the bank’s stock after purchasing an additional 2,585 shares during the period. Peregrine Capital Management LLC’s holdings in Ameris Bancorp were worth $4,256,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Ameris Bancorp by 38.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,962 shares of the bank’s stock valued at $164,000 after purchasing an additional 1,942 shares in the last quarter. New York State Teachers Retirement System increased its holdings in Ameris Bancorp by 4.8% in the 2nd quarter. New York State Teachers Retirement System now owns 28,655 shares of the bank’s stock valued at $676,000 after purchasing an additional 1,300 shares in the last quarter. SG Americas Securities LLC increased its holdings in Ameris Bancorp by 125.1% in the 2nd quarter. SG Americas Securities LLC now owns 29,149 shares of the bank’s stock valued at $688,000 after purchasing an additional 16,200 shares in the last quarter. Selective Wealth Management Inc. acquired a new stake in Ameris Bancorp in the 2nd quarter valued at $47,000. Finally, Endurance Wealth Management Inc. acquired a new stake in Ameris Bancorp in the 2nd quarter valued at $71,000. Hedge funds and other institutional investors own 84.24% of the company’s stock.

Shares of ABCB stock opened at $23.08 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.98 and a current ratio of 1.07. Ameris Bancorp has a one year low of $17.12 and a one year high of $44.90. The company’s 50-day simple moving average is $22.73 and its 200-day simple moving average is $28.00. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 11.89 and a beta of 1.48.

Ameris Bancorp (NASDAQ:ABCB) last issued 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 net margin of 12.69% and a return on equity of 8.86%. The business had revenue of $284.77 million for the quarter, compared to analysts’ expectations of $218.95 million. During the same quarter last year, the company posted $0.96 earnings per share. As a group, research analysts forecast that Ameris Bancorp will post 2.93 EPS for the current year.

The business 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 of this dividend was Monday, June 29th. This represents a $0.60 annualized dividend and a dividend yield of 2.60%. Ameris Bancorp’s payout ratio is 15.79%.

ABCB has been the subject of several recent research reports. BidaskClub downgraded Ameris Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. SunTrust Banks upped their price objective on shares of Ameris Bancorp from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Piper Sandler reissued an “overweight” rating and issued a $29.00 price objective on shares of Ameris Bancorp in a research report on Tuesday, July 28th. Stephens reissued a “buy” rating and issued a $31.00 price objective on shares of Ameris Bancorp in a research report on Friday, April 24th. Finally, ValuEngine raised shares of Ameris Bancorp from a “strong sell” rating to a “sell” rating in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $32.17.

About Ameris Bancorp

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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Institutional Ownership by Quarter for Ameris Bancorp (NASDAQ:ABCB)

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