BNP Paribas Financial Markets Has $860,000 Position in Ameris Bancorp (NASDAQ:ABCB)

BNP Paribas Financial Markets cut its holdings in Ameris Bancorp (NASDAQ:ABCB) by 39.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,737 shares of the bank’s stock after selling 9,044 shares during the quarter. BNP Paribas Financial Markets’ holdings in Ameris Bancorp were worth $860,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in shares of Ameris Bancorp by 30.7% during the fourth quarter. JPMorgan Chase & Co. now owns 952,058 shares of the bank’s stock valued at $59,570,000 after buying an additional 223,805 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of Ameris Bancorp by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 789,271 shares of the bank’s stock worth $49,385,000 after buying an additional 19,150 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Ameris Bancorp by 158.2% during the 4th quarter. Intech Investment Management LLC now owns 40,279 shares of the bank’s stock worth $2,520,000 after buying an additional 24,680 shares during the period. Cibc World Markets Corp acquired a new stake in Ameris Bancorp in the 4th quarter valued at $385,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Ameris Bancorp in the fourth quarter valued at $1,195,000. 91.64% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Ameris Bancorp news, insider Douglas D. Strange acquired 1,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were acquired at an average price of $56.95 per share, with a total value of $56,950.00. Following the completion of the transaction, the insider now owns 19,403 shares in the company, valued at approximately $1,105,000.85. This trade represents a 5.43% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 5.40% of the stock is owned by company insiders.

Ameris Bancorp Stock Performance

NASDAQ ABCB opened at $61.64 on Thursday. Ameris Bancorp has a 52-week low of $45.89 and a 52-week high of $74.56. The stock has a market cap of $4.25 billion, a PE ratio of 11.83 and a beta of 0.91. The firm has a 50-day moving average of $57.16 and a 200-day moving average of $62.41. 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 Monday, April 28th. The bank reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.16. The business had revenue of $285.86 million during the quarter, compared to the consensus estimate of $276.06 million. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%. Ameris Bancorp’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.10 earnings per share. On average, sell-side analysts anticipate that Ameris Bancorp will post 4.99 EPS for the current year.

Ameris Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Monday, March 31st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.30%. The ex-dividend date was Monday, March 31st. Ameris Bancorp’s dividend payout ratio (DPR) is currently 14.81%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ABCB shares. Piper Sandler Companies boosted their price objective on shares of Ameris Bancorp to $74.00 and gave the stock a “buy” rating in a research report on Monday, April 7th. Piper Sandler started coverage on Ameris Bancorp in a research report on Friday, April 4th. They issued an “overweight” rating and a $74.00 price target on the stock. Stephens reaffirmed an “equal weight” rating and set a $63.00 price objective on shares of Ameris Bancorp in a research note on Tuesday, April 29th. Finally, Raymond James cut their target price on Ameris Bancorp from $71.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.43.

About Ameris Bancorp

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.