Nuveen Asset Management LLC Boosts Holdings in Ameris Bancorp (NASDAQ:ABCB)

Nuveen Asset Management LLC increased its position in Ameris Bancorp (NASDAQ:ABCB – Get Rating) by 2.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 642,071 shares of the bank’s stock after purchasing an additional 16,756 shares during the quarter. Nuveen Asset Management LLC owned 0.93% of Ameris Bancorp worth $28,707,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. First Republic Investment Management Inc. increased its holdings in Ameris Bancorp by 1.7% during the 1st quarter. First Republic Investment Management Inc. now owns 16,844 shares of the bank’s stock worth $739,000 after purchasing an additional 289 shares during the last quarter. CWM LLC lifted its position in shares of Ameris Bancorp by 89.5% during the third quarter. CWM LLC now owns 667 shares of the bank’s stock worth $30,000 after purchasing an additional 315 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Ameris Bancorp by 0.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 48,375 shares of the bank’s stock worth $1,944,000 after purchasing an additional 341 shares in the last quarter. Captrust Financial Advisors increased its holdings in Ameris Bancorp by 5.6% in the second quarter. Captrust Financial Advisors now owns 6,685 shares of the bank’s stock valued at $269,000 after buying an additional 352 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in Ameris Bancorp by 1.2% during the 3rd quarter. Amalgamated Bank now owns 30,048 shares of the bank’s stock worth $1,343,000 after buying an additional 362 shares during the last quarter. 86.74% of the stock is owned by institutional investors and hedge funds.

Ameris Bancorp Stock Down 0.5 %

Shares of Ameris Bancorp stock opened at $47.87 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.09 and a quick ratio of 1.07. Ameris Bancorp has a 1-year low of $38.22 and a 1-year high of $54.24. The business’s fifty day moving average price is $47.95 and its two-hundred day moving average price is $48.83. The company has a market capitalization of $3.32 billion, a P/E ratio of 9.59 and a beta of 1.13.

Ameris Bancorp (NASDAQ:ABCB – Get Rating) last issued its quarterly earnings data on Friday, January 27th. The bank reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.17). The company had revenue of $272.49 million for the quarter, compared to the consensus estimate of $281.13 million. Ameris Bancorp had a net margin of 29.41% and a return on equity of 10.63%. Ameris Bancorp’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.17 earnings per share. As a group, research analysts forecast that Ameris Bancorp will post 5.27 EPS for the current year.

Ameris Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 9th. Investors of record on Saturday, December 31st were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.25%. Ameris Bancorp’s dividend payout ratio is presently 12.02%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ABCB shares. Truist Financial lowered their target price on shares of Ameris Bancorp from $60.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, February 1st. Keefe, Bruyette & Woods cut their target price on shares of Ameris Bancorp from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Tuesday, January 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $62.00 target price on shares of Ameris Bancorp in a report on Monday, December 5th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.50.

Ameris Bancorp Profile

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Ameris Bancorp is a bank holding company, which through the subsidiary, Ameris Bank, engages in the provision of banking services to its retail and commercial customers. It operates through the following business segments: Banking, Retail Mortgage, Warehouse Lending, the SBA and Premium Finance. The Banking segment offers full service financial services to include commercial loans, consumer loans and deposit accounts.