First Eagle Investment Management LLC Has $14.60 Million Stake in Ameris Bancorp (NASDAQ:ABCB)

First Eagle Investment Management LLC increased its stake in Ameris Bancorp (NASDAQ:ABCB) by 18.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 290,033 shares of the bank’s stock after purchasing an additional 45,450 shares during the period. First Eagle Investment Management LLC owned approximately 0.42% of Ameris Bancorp worth $14,603,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Ameris Bancorp in the fourth quarter valued at about $39,787,000. Hsbc Holdings PLC lifted its stake in Ameris Bancorp by 4,193.6% in the 4th quarter. Hsbc Holdings PLC now owns 229,408 shares of the bank’s stock valued at $12,163,000 after acquiring an additional 224,065 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Ameris Bancorp by 75.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 416,557 shares of the bank’s stock worth $20,153,000 after acquiring an additional 178,500 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Ameris Bancorp by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 7,560,371 shares of the bank’s stock worth $365,771,000 after acquiring an additional 92,491 shares in the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of Ameris Bancorp in the first quarter valued at approximately $3,869,000. Institutional investors own 91.64% of the company’s stock.

Ameris Bancorp Stock Performance

Shares of ABCB opened at $62.62 on Thursday. The company has a market cap of $4.33 billion, a PE ratio of 15.24 and a beta of 1.02. The firm has a 50-day moving average of $58.87 and a 200-day moving average of $51.74. Ameris Bancorp has a one year low of $34.26 and a one year high of $64.92. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.05 and a quick ratio of 1.03.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.03. The business had revenue of $436.03 million during the quarter, compared to analysts’ expectations of $273.67 million. Ameris Bancorp had a return on equity of 8.97% and a net margin of 19.28%. During the same quarter last year, the company posted $0.91 earnings per share. As a group, equities analysts forecast that Ameris Bancorp will post 4.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Stephens increased their target price on shares of Ameris Bancorp from $52.00 to $64.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. DA Davidson increased their price objective on shares of Ameris Bancorp from $61.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Truist Financial lifted their target price on Ameris Bancorp from $54.00 to $69.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods increased their price target on Ameris Bancorp from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.20.

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.