773,220 Shares in Ameris Bancorp (NASDAQ:ABCB) Acquired by Norges Bank

Norges Bank purchased a new position in Ameris Bancorp (NASDAQ:ABCB) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 773,220 shares of the bank’s stock, valued at approximately $48,380,000. Norges Bank owned about 1.12% of Ameris Bancorp as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ABCB. Picton Mahoney Asset Management lifted its holdings in Ameris Bancorp by 2,436.8% during the 4th quarter. Picton Mahoney Asset Management now owns 482 shares of the bank’s stock worth $30,000 after buying an additional 463 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Ameris Bancorp during the 4th quarter worth about $51,000. Blue Trust Inc. lifted its stake in Ameris Bancorp by 56.1% during the fourth quarter. Blue Trust Inc. now owns 1,113 shares of the bank’s stock worth $69,000 after purchasing an additional 400 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Ameris Bancorp by 17.9% in the fourth quarter. GAMMA Investing LLC now owns 1,332 shares of the bank’s stock valued at $83,000 after purchasing an additional 202 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in Ameris Bancorp by 167.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the bank’s stock valued at $90,000 after purchasing an additional 896 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Ameris Bancorp Stock Down 2.7 %

Shares of NASDAQ:ABCB opened at $50.64 on Friday. Ameris Bancorp has a 1-year low of $44.23 and a 1-year high of $74.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. The stock has a market cap of $3.50 billion, a P/E ratio of 9.72 and a beta of 1.02. The firm has a fifty day moving average price of $61.70 and a 200 day moving average price of $63.70.

Ameris Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 31st will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Monday, March 31st. Ameris Bancorp’s payout ratio is currently 15.36%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Piper Sandler started coverage on shares of Ameris Bancorp in a research report on Friday. They set an “overweight” rating and a $74.00 price objective for the company. Raymond James reissued an “outperform” rating and issued a $71.00 price target (up from $67.00) on shares of Ameris Bancorp in a research report on Monday, February 3rd. Finally, Stephens restated an “equal weight” rating and issued a $71.00 price objective on shares of Ameris Bancorp in a research note on Friday, January 31st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $73.33.

Insider Transactions at Ameris Bancorp

In other news, insider Douglas D. Strange acquired 1,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was bought at an average price of $56.95 per share, for a total transaction of $56,950.00. Following the transaction, the insider now owns 19,403 shares in the company, valued at $1,105,000.85. This represents a 5.43 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 5.50% of the company’s stock.

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.