SageView Advisory Group LLC Has $222,000 Stake in Ameris Bancorp (NASDAQ:ABCB)

SageView Advisory Group LLC decreased its position in Ameris Bancorp (NASDAQ:ABCB) by 35.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,273 shares of the bank’s stock after selling 2,398 shares during the quarter. SageView Advisory Group LLC’s holdings in Ameris Bancorp were worth $222,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James & Associates grew its position in Ameris Bancorp by 1.4% during the fourth quarter. Raymond James & Associates now owns 16,791 shares of the bank’s stock worth $891,000 after buying an additional 235 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Ameris Bancorp by 4.6% during the third quarter. Janney Montgomery Scott LLC now owns 11,344 shares of the bank’s stock worth $435,000 after buying an additional 500 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Ameris Bancorp by 2.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,112 shares of the bank’s stock worth $1,597,000 after buying an additional 619 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Ameris Bancorp during the fourth quarter worth approximately $31,000. Finally, Cary Street Partners Investment Advisory LLC grew its position in Ameris Bancorp by 19.8% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 6,650 shares of the bank’s stock worth $255,000 after buying an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ABCB shares. Stephens reissued an “equal weight” rating and set a $53.00 price target on shares of Ameris Bancorp in a research report on Friday, April 26th. StockNews.com upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. Truist Financial cut their target price on Ameris Bancorp from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, April 1st. Finally, Piper Sandler upped their target price on Ameris Bancorp from $55.00 to $57.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

Ameris Bancorp Stock Down 0.5 %

NASDAQ ABCB opened at $47.94 on Friday. Ameris Bancorp has a fifty-two week low of $32.74 and a fifty-two week high of $53.99. The stock has a market capitalization of $3.31 billion, a PE ratio of 11.66 and a beta of 1.06. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.04 and a quick ratio of 1.02. The business has a fifty day moving average price of $48.03 and a two-hundred day moving average price of $48.50.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings results on Friday, April 26th. The bank reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.06. Ameris Bancorp had a return on equity of 8.62% and a net margin of 18.06%. The company had revenue of $267.27 million during the quarter, compared to analysts’ expectations of $258.05 million. During the same period in the prior year, the company earned $0.86 EPS. Ameris Bancorp’s revenue was down .2% compared to the same quarter last year. Equities analysts expect that Ameris Bancorp will post 4.59 earnings per share for the current fiscal year.

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.