Ameris Bancorp $ABCB Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. lessened its position in shares of Ameris Bancorp (NASDAQ:ABCB) by 40.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,884 shares of the bank’s stock after selling 42,063 shares during the quarter. Edgestream Partners L.P.’s holdings in Ameris Bancorp were worth $4,826,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in ABCB. Amundi lifted its stake in Ameris Bancorp by 65.8% in the first quarter. Amundi now owns 17,067 shares of the bank’s stock valued at $1,331,000 after buying an additional 6,773 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Ameris Bancorp by 21.8% in the first quarter. California State Teachers Retirement System now owns 75,346 shares of the bank’s stock valued at $5,876,000 after acquiring an additional 13,486 shares during the period. Quantinno Capital Management LP grew its position in shares of Ameris Bancorp by 148.5% during the first quarter. Quantinno Capital Management LP now owns 34,350 shares of the bank’s stock worth $2,679,000 after acquiring an additional 20,526 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of Ameris Bancorp during the first quarter worth approximately $1,809,000. Finally, North Reef Capital Management LP increased its holdings in shares of Ameris Bancorp by 25.1% in the 1st quarter. North Reef Capital Management LP now owns 3,423,243 shares of the bank’s stock valued at $266,979,000 after acquiring an additional 686,215 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.

Ameris Bancorp Price Performance

Ameris Bancorp stock opened at $87.41 on Friday. The company has a market cap of $5.88 billion, a P/E ratio of 16.78 and a beta of 0.91. Ameris Bancorp has a one year low of $65.43 and a one year high of $93.22. The business has a fifty day moving average of $88.11 and a two-hundred day moving average of $83.62. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings results on Thursday, July 23rd. The bank reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.06). Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.The company had revenue of $317.78 million for the quarter, compared to analyst estimates of $323.78 million. During the same period last year, the company earned $1.59 earnings per share. As a group, analysts predict that Ameris Bancorp will post 4.99 earnings per share for the current fiscal year.

Ameris Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Ameris Bancorp’s dividend payout ratio is presently 14.47%.

Analyst Ratings Changes

Several research firms recently commented on ABCB. Piper Sandler reduced their price target on shares of Ameris Bancorp from $96.00 to $92.00 and set a “neutral” rating for the company in a research report on Monday. Raymond James Financial downgraded shares of Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 1st. Truist Financial dropped their price objective on shares of Ameris Bancorp from $92.00 to $90.00 and set a “hold” rating on the stock in a research note on Tuesday. Stephens set a $88.00 price target on Ameris Bancorp in a research note on Monday. Finally, DA Davidson increased their price target on shares of Ameris Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $91.67.

Ameris Bancorp Company 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.