Texas Permanent School Fund Corp Sells 2,017 Shares of Ameris Bancorp (NASDAQ:ABCB)

Texas Permanent School Fund Corp decreased its position in shares of Ameris Bancorp (NASDAQ:ABCB) by 3.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,609 shares of the bank’s stock after selling 2,017 shares during the quarter. Texas Permanent School Fund Corp owned about 0.08% of Ameris Bancorp worth $2,750,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. 1620 Investment Advisors Inc. acquired a new stake in Ameris Bancorp during the 2nd quarter worth approximately $33,000. GAMMA Investing LLC raised its stake in shares of Ameris Bancorp by 66.1% during the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the bank’s stock worth $41,000 after purchasing an additional 326 shares in the last quarter. CWM LLC raised its stake in shares of Ameris Bancorp by 33.5% during the 2nd quarter. CWM LLC now owns 1,310 shares of the bank’s stock worth $66,000 after purchasing an additional 329 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Ameris Bancorp in the 2nd quarter valued at approximately $143,000. Finally, SG Americas Securities LLC bought a new position in shares of Ameris Bancorp in the first quarter valued at $190,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

Ameris Bancorp Trading Up 1.3 %

Shares of ABCB stock opened at $61.84 on Tuesday. Ameris Bancorp has a 12-month low of $34.26 and a 12-month high of $64.88. The firm has a 50 day moving average price of $58.64 and a two-hundred day moving average price of $51.62. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $4.27 billion, a PE ratio of 15.05 and a beta of 1.02.

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

Analyst Upgrades and Downgrades

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

Ameris Bancorp 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.