North Reef Capital Management LP Has $158.49 Million Holdings in Ameris Bancorp (NASDAQ:ABCB)

North Reef Capital Management LP grew its holdings in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 8.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,533,000 shares of the bank's stock after acquiring an additional 208,000 shares during the period. Ameris Bancorp comprises about 7.1% of North Reef Capital Management LP's investment portfolio, making the stock its 4th biggest position. North Reef Capital Management LP owned about 3.67% of Ameris Bancorp worth $158,490,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Barclays PLC lifted its position in shares of Ameris Bancorp by 107.7% in the third quarter. Barclays PLC now owns 140,001 shares of the bank's stock worth $8,735,000 after buying an additional 72,599 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Ameris Bancorp in the third quarter worth about $210,000. Principal Financial Group Inc. lifted its position in shares of Ameris Bancorp by 4.6% in the third quarter. Principal Financial Group Inc. now owns 1,263,487 shares of the bank's stock worth $78,829,000 after buying an additional 55,473 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Ameris Bancorp by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 728,253 shares of the bank's stock worth $45,436,000 after buying an additional 60,448 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Ameris Bancorp by 17.9% in the fourth quarter. GAMMA Investing LLC now owns 1,332 shares of the bank's stock worth $83,000 after buying an additional 202 shares in the last quarter. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Ameris Bancorp Trading Down 2.3 %

Shares of ABCB traded down $1.34 during mid-day trading on Wednesday, reaching $57.66. 182,071 shares of the company's stock traded hands, compared to its average volume of 391,737. The stock has a market cap of $3.97 billion, a P/E ratio of 11.07 and a beta of 0.87. The stock's 50-day moving average is $56.85 and its two-hundred day moving average is $62.61. Ameris Bancorp has a 12 month low of $45.89 and a 12 month high of $74.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last released its 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 firm had revenue of $285.86 million for the quarter, compared to analysts' expectations of $276.06 million. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%. The company's quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.10 earnings per share. Research analysts forecast that Ameris Bancorp will post 4.99 earnings per share for the current fiscal year.

Ameris Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Monday, March 31st were issued a dividend of $0.20 per share. The ex-dividend date was Monday, March 31st. This represents a $0.80 annualized dividend and a yield of 1.39%. Ameris Bancorp's payout ratio is currently 15.36%.

Analyst Ratings Changes

A number of research firms recently commented on ABCB. Piper Sandler Companies boosted their target price on Ameris Bancorp to $74.00 and gave the stock a "buy" rating in a research report on Monday, April 7th. Piper Sandler began coverage on Ameris Bancorp in a research report on Friday, April 4th. They set an "overweight" rating and a $74.00 price objective on the stock. Stephens restated an "equal weight" rating and set a $63.00 price objective on shares of Ameris Bancorp in a research report on Tuesday. Finally, Raymond James decreased their price objective on Ameris Bancorp from $71.00 to $65.00 and set an "outperform" rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $71.43.

Insider Buying and Selling at Ameris Bancorp

In other news, insider Douglas D. Strange acquired 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average cost of $56.95 per share, for a total transaction of $56,950.00. Following the completion of the acquisition, the insider now directly owns 19,403 shares of the company's stock, valued at $1,105,000.85. The trade was a 5.43 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.50% of the stock is currently owned by corporate insiders.

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.