Peregrine Capital Management LLC Has $5.86 Million Holdings in Ameris Bancorp (NASDAQ:ABCB)

Peregrine Capital Management LLC lessened its position in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 13.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,677 shares of the bank's stock after selling 14,522 shares during the period. Peregrine Capital Management LLC owned about 0.14% of Ameris Bancorp worth $5,861,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. CWM LLC boosted its position in Ameris Bancorp by 105.8% during the third quarter. CWM LLC now owns 2,696 shares of the bank's stock worth $168,000 after purchasing an additional 1,386 shares during the period. Blue Trust Inc. boosted its stake in Ameris Bancorp by 249.5% in the 3rd quarter. Blue Trust Inc. now owns 713 shares of the bank's stock valued at $44,000 after purchasing an additional 509 shares during the period. Sequoia Financial Advisors LLC bought a new stake in Ameris Bancorp in the 3rd quarter valued at $233,000. E. Ohman J or Asset Management AB boosted its stake in Ameris Bancorp by 6.1% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 38,052 shares of the bank's stock valued at $2,374,000 after purchasing an additional 2,200 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Ameris Bancorp by 2.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 12,503 shares of the bank's stock valued at $780,000 after purchasing an additional 258 shares during the period. Institutional investors own 91.64% of the company's stock.

Ameris Bancorp Price Performance

NASDAQ ABCB traded down $1.45 during trading on Friday, hitting $63.39. 320,671 shares of the company's stock were exchanged, compared to its average volume of 384,973. Ameris Bancorp has a fifty-two week low of $44.22 and a fifty-two week high of $74.56. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The company has a market cap of $4.38 billion, a PE ratio of 12.17 and a beta of 1.06. The stock's 50 day moving average price is $64.38 and its two-hundred day moving average price is $63.72.

Ameris Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Tuesday, December 31st were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date was Tuesday, December 31st. This is a boost from Ameris Bancorp's previous quarterly dividend of $0.15. Ameris Bancorp's dividend payout ratio is presently 15.36%.

Analyst Ratings Changes

A number of equities analysts recently commented on ABCB shares. Keefe, Bruyette & Woods raised their price target on shares of Ameris Bancorp from $70.00 to $80.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. StockNews.com upgraded Ameris Bancorp from a "sell" rating to a "hold" rating in a research note on Thursday, October 31st. Stephens reiterated an "equal weight" rating and issued a $71.00 price target on shares of Ameris Bancorp in a research note on Friday, January 31st. Raymond James reaffirmed an "outperform" rating and set a $71.00 price objective (up previously from $67.00) on shares of Ameris Bancorp in a research report on Monday, February 3rd. Finally, Truist Financial decreased their target price on shares of Ameris Bancorp from $73.00 to $68.00 and set a "buy" rating on the stock in a report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $70.50.

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.