Ameris Bancorp $ABCB Shares Sold by Penn Capital Management Company LLC

Penn Capital Management Company LLC decreased its position in shares of Ameris Bancorp (NASDAQ:ABCB) by 6.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 293,563 shares of the bank’s stock after selling 21,243 shares during the quarter. Ameris Bancorp makes up about 1.7% of Penn Capital Management Company LLC’s holdings, making the stock its 7th largest position. Penn Capital Management Company LLC’s holdings in Ameris Bancorp were worth $21,572,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. CIBC Bancorp USA Inc. purchased a new stake in shares of Ameris Bancorp in the 3rd quarter valued at about $517,000. Coldstream Capital Management Inc. increased its position in Ameris Bancorp by 6.9% during the third quarter. Coldstream Capital Management Inc. now owns 3,595 shares of the bank’s stock worth $264,000 after buying an additional 232 shares during the period. Danske Bank A S acquired a new position in Ameris Bancorp during the third quarter worth approximately $51,000. Shapiro Capital Management LLC lifted its stake in Ameris Bancorp by 18.3% in the third quarter. Shapiro Capital Management LLC now owns 206,605 shares of the bank’s stock valued at $15,146,000 after buying an additional 31,950 shares during the last quarter. Finally, PMC FIG Opportunities LLC purchased a new stake in Ameris Bancorp in the third quarter valued at approximately $1,762,000. 91.60% of the stock is owned by hedge funds and other institutional investors.

Ameris Bancorp Stock Performance

Shares of ABCB stock opened at $74.97 on Wednesday. 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 stock has a 50 day simple moving average of $80.39 and a 200-day simple moving average of $76.54. The company has a market cap of $5.09 billion, a price-to-earnings ratio of 14.39 and a beta of 0.97. Ameris Bancorp has a 12-month low of $48.27 and a 12-month high of $87.98.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings results on Thursday, January 29th. The bank reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.03. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.The firm had revenue of $309.92 million for the quarter, compared to the consensus estimate of $310.48 million. During the same period in the previous year, the business earned $1.38 earnings per share. On average, equities analysts forecast that Ameris Bancorp will post 4.99 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ABCB shares. Stephens raised their target price on shares of Ameris Bancorp from $79.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Monday, February 2nd. Keefe, Bruyette & Woods upped their price target on shares of Ameris Bancorp from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. DA Davidson set a $94.00 price target on shares of Ameris Bancorp in a research note on Monday, February 2nd. Finally, Truist Financial raised their price objective on shares of Ameris Bancorp from $83.00 to $86.00 and gave the stock a “hold” rating in a research report on Monday, February 2nd. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.50.

Ameris Bancorp 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.