Ameris Bancorp $ABCB Shares Bought by North Reef Capital Management LP

North Reef Capital Management LP increased its holdings in shares of Ameris Bancorp (NASDAQ:ABCB) by 4.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,981,061 shares of the bank’s stock after acquiring an additional 91,043 shares during the quarter. Ameris Bancorp comprises about 6.8% of North Reef Capital Management LP’s investment portfolio, making the stock its 6th largest holding. North Reef Capital Management LP owned approximately 2.90% of Ameris Bancorp worth $145,232,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ABCB. Royal Bank of Canada increased its holdings in shares of Ameris Bancorp by 9.5% during the first quarter. Royal Bank of Canada now owns 29,288 shares of the bank’s stock worth $1,687,000 after purchasing an additional 2,546 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Ameris Bancorp by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,181 shares of the bank’s stock valued at $2,256,000 after buying an additional 1,703 shares during the period. NewEdge Advisors LLC increased its holdings in Ameris Bancorp by 36.7% in the 1st quarter. NewEdge Advisors LLC now owns 11,651 shares of the bank’s stock valued at $671,000 after buying an additional 3,129 shares during the period. United Services Automobile Association acquired a new position in shares of Ameris Bancorp in the 1st quarter valued at approximately $243,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Ameris Bancorp by 7.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 187,024 shares of the bank’s stock worth $10,767,000 after acquiring an additional 13,633 shares during the period. Institutional investors own 91.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ABCB. DA Davidson set a $94.00 price objective on Ameris Bancorp in a research note on Monday, February 2nd. Stephens lifted their price target on shares of Ameris Bancorp from $79.00 to $87.00 and gave the company an “equal weight” rating in a report on Monday, February 2nd. Truist Financial upped their price objective on shares of Ameris Bancorp from $83.00 to $86.00 and gave the stock a “hold” rating in a research report on Monday, February 2nd. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Ameris Bancorp from $82.00 to $88.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $86.50.

Ameris Bancorp Stock Up 0.1%

ABCB opened at $75.22 on Tuesday. 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 $48.27 and a 12 month high of $87.98. The business’s 50-day moving average price is $80.41 and its 200-day moving average price is $76.53. The company has a market cap of $5.11 billion, a P/E ratio of 14.44 and a beta of 0.97.

Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings data on Thursday, January 29th. The bank reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.03. The firm had revenue of $309.92 million during the quarter, compared to analyst estimates of $310.48 million. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.During the same quarter in the prior year, the firm posted $1.38 earnings per share. On average, equities analysts expect that Ameris Bancorp will post 4.99 EPS for the current year.

About Ameris Bancorp

Ameris Bancorp is a bank holding company headquartered in Atlanta, Georgia. Through its principal subsidiary, Ameris Bank, the company offers a broad range of commercial and retail banking services to individuals, small businesses, middle market companies and agricultural customers. Its core business lines encompass deposit services, lending solutions, treasury management, mortgage origination and servicing, insurance products and wealth management.

Ameris Bancorp operates a network of branches and loan production offices across the southeastern United States, including Georgia, Alabama, Florida, North Carolina, South Carolina and Tennessee.