Nilsine Partners LLC Buys 8,261 Shares of Ameris Bancorp (NASDAQ:ABCB)

Nilsine Partners LLC boosted its stake in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 15.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,577 shares of the bank's stock after acquiring an additional 8,261 shares during the period. Nilsine Partners LLC owned 0.09% of Ameris Bancorp worth $3,487,000 at the end of the most recent reporting period.

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

Ameris Bancorp Stock Up 0.5%

NASDAQ ABCB opened at $60.96 on Friday. The stock's 50 day moving average is $59.76 and its 200 day moving average is $61.20. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. Ameris Bancorp has a 12 month low of $47.05 and a 12 month high of $74.56. The stock has a market cap of $4.20 billion, a PE ratio of 11.70 and a beta of 0.93.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The bank reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.16. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%. The company had revenue of $285.86 million for the quarter, compared to analysts' expectations of $276.06 million. During the same period in the previous year, the firm earned $1.10 EPS. The firm's revenue was up 7.0% compared to the same quarter last year. Research analysts predict that Ameris Bancorp will post 4.99 EPS for the current fiscal year.

Ameris Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 7th. Investors of record on Monday, June 30th will be issued a $0.20 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.80 dividend on an annualized basis and a yield of 1.31%. Ameris Bancorp's dividend payout ratio is presently 14.81%.

Analyst Ratings Changes

ABCB has been the subject of several recent analyst reports. Stephens reaffirmed an "equal weight" rating and issued a $63.00 price target on shares of Ameris Bancorp in a research report on Tuesday, April 29th. Raymond James Financial lowered their price target on Ameris Bancorp from $71.00 to $65.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Piper Sandler Companies lifted their price objective on Ameris Bancorp to $74.00 and gave the stock a "buy" rating in a report on Monday, April 7th. Finally, Piper Sandler started coverage on Ameris Bancorp in a research note on Friday, April 4th. They set an "overweight" rating and a $74.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently 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.

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