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

Peregrine Capital Management LLC lessened its position in Ameris Bancorp (NASDAQ:ABCB) by 13.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 93,677 shares of the bank’s stock after selling 14,522 shares during the period. Peregrine Capital Management LLC’s holdings in Ameris Bancorp were worth $5,861,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. CWM LLC increased its stake in shares of Ameris Bancorp by 105.8% in the third quarter. CWM LLC now owns 2,696 shares of the bank’s stock valued at $168,000 after purchasing an additional 1,386 shares during the period. Blue Trust Inc. grew its holdings in Ameris Bancorp by 249.5% in the 3rd quarter. Blue Trust Inc. now owns 713 shares of the bank’s stock worth $44,000 after buying an additional 509 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Ameris Bancorp in the 3rd quarter valued at approximately $233,000. E. Ohman J or Asset Management AB raised its stake in Ameris Bancorp by 6.1% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 38,052 shares of the bank’s stock valued at $2,374,000 after acquiring an additional 2,200 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Ameris Bancorp by 2.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 12,503 shares of the bank’s stock worth $780,000 after acquiring an additional 258 shares during the period. 91.64% of the stock is currently owned by institutional investors.

Ameris Bancorp Trading Up 0.3 %

Ameris Bancorp stock opened at $66.36 on Wednesday. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 12.74 and a beta of 1.06. Ameris Bancorp has a 1 year low of $44.22 and a 1 year high of $74.56. The firm’s 50 day moving average price is $64.46 and its two-hundred day moving average price is $63.70. 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 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from Ameris Bancorp’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.21%. Ameris Bancorp’s payout ratio is 15.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Stephens restated an “equal weight” rating and set a $71.00 price objective on shares of Ameris Bancorp in a research note on Friday, January 31st. Raymond James reaffirmed an “outperform” rating and issued a $71.00 price target (up from $67.00) on shares of Ameris Bancorp in a research note on Monday, February 3rd. StockNews.com upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Truist Financial cut their target price on Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Finally, Keefe, Bruyette & Woods lifted their price target on Ameris Bancorp from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $70.50.

Ameris Bancorp 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.