Ameris Bancorp (NASDAQ:ABCB) Shares Purchased by North Reef Capital Management LP

North Reef Capital Management LP boosted its position in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 8.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,533,000 shares of the bank's stock after buying an additional 208,000 shares during the period. Ameris Bancorp makes up approximately 7.1% of North Reef Capital Management LP's investment portfolio, making the stock its 4th largest holding. North Reef Capital Management LP owned 3.67% of Ameris Bancorp worth $158,490,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ABCB. Principal Financial Group Inc. lifted its holdings in Ameris Bancorp by 4.6% in the third quarter. Principal Financial Group Inc. now owns 1,263,487 shares of the bank's stock valued at $78,829,000 after acquiring an additional 55,473 shares during the period. JPMorgan Chase & Co. lifted 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 during the period. Charles Schwab Investment Management Inc. lifted its holdings in Ameris Bancorp by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 917,396 shares of the bank's stock valued at $57,401,000 after acquiring an additional 10,256 shares during the period. Congress Asset Management Co. lifted its holdings in Ameris Bancorp by 1.5% in the fourth quarter. Congress Asset Management Co. now owns 821,554 shares of the bank's stock valued at $51,405,000 after acquiring an additional 12,216 shares during the period. Finally, William Blair Investment Management LLC lifted its holdings in Ameris Bancorp by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 789,271 shares of the bank's stock valued at $49,385,000 after acquiring an additional 19,150 shares during the period. Hedge funds and other institutional investors own 91.64% of the company's stock.

Ameris Bancorp Trading Up 1.7 %

Shares of Ameris Bancorp stock traded up $0.96 on Monday, reaching $56.98. The company had a trading volume of 537,186 shares, compared to its average volume of 390,139. The firm's 50 day moving average price is $56.97 and its two-hundred day moving average price is $62.64. The firm has a market cap of $3.93 billion, a PE ratio of 10.94 and a beta of 0.87. Ameris Bancorp has a 52-week low of $45.89 and a 52-week high of $74.56. 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Monday, March 31st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Monday, March 31st. Ameris Bancorp's dividend payout ratio (DPR) is 15.36%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ABCB. Piper Sandler Companies upped their target price on Ameris Bancorp to $74.00 and gave the stock a "buy" rating in a research note on Monday, April 7th. Raymond James reaffirmed an "outperform" rating and set a $71.00 target price (up from $67.00) on shares of Ameris Bancorp in a research note on Monday, February 3rd. Stephens reaffirmed an "equal weight" rating and set a $71.00 target price on shares of Ameris Bancorp in a research note on Friday, January 31st. Finally, Piper Sandler began coverage on Ameris Bancorp in a research note on Friday, April 4th. They set an "overweight" rating and a $74.00 target price for the company. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $73.43.

Insider Activity

In other Ameris Bancorp news, insider Douglas D. Strange acquired 1,000 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $56.95 per share, for a total transaction of $56,950.00. Following the completion of the acquisition, the insider now owns 19,403 shares of the company's stock, valued at approximately $1,105,000.85. This trade represents a 5.43 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.50% of the company's stock.

Ameris Bancorp Company 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.