Ameris Bancorp (NASDAQ:ABCB) Holdings Increased by Algert Global LLC

Algert Global LLC increased its stake in Ameris Bancorp (NASDAQ:ABCB) by 208.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,393 shares of the bank’s stock after acquiring an additional 56,320 shares during the period. Algert Global LLC’s holdings in Ameris Bancorp were worth $5,203,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. 1620 Investment Advisors Inc. bought a new position in Ameris Bancorp during the 2nd quarter valued at $33,000. GAMMA Investing LLC grew its holdings in Ameris Bancorp by 66.1% during the second quarter. GAMMA Investing LLC now owns 819 shares of the bank’s stock worth $41,000 after acquiring an additional 326 shares during the period. Blue Trust Inc. lifted its holdings 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 acquiring an additional 509 shares during the last quarter. CWM LLC lifted its holdings in Ameris Bancorp by 33.5% in the 2nd quarter. CWM LLC now owns 1,310 shares of the bank’s stock valued at $66,000 after acquiring an additional 329 shares during the last quarter. Finally, US Bancorp DE boosted its position in shares of Ameris Bancorp by 3,396.4% during the 3rd quarter. US Bancorp DE now owns 1,923 shares of the bank’s stock valued at $120,000 after purchasing an additional 1,868 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Ameris Bancorp Stock Performance

Shares of ABCB stock opened at $71.79 on Monday. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of 14.96 and a beta of 1.01. Ameris Bancorp has a 1-year low of $41.00 and a 1-year high of $72.68. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock’s fifty day simple moving average is $64.38 and its 200-day simple moving average is $57.62.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.13. Ameris Bancorp had a net margin of 20.08% and a return on equity of 9.18%. The business had revenue of $424.86 million during the quarter, compared to analyst estimates of $290.60 million. During the same period in the prior year, the firm earned $1.16 earnings per share. On average, sell-side analysts predict that Ameris Bancorp will post 4.83 earnings per share for the current fiscal year.

Ameris Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Monday, September 30th. Ameris Bancorp’s dividend payout ratio (DPR) is presently 12.50%.

Analyst Upgrades and Downgrades

ABCB has been the subject of several recent research reports. Keefe, Bruyette & Woods increased their target price on shares of Ameris Bancorp from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Truist Financial reduced their price objective on Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, October 28th. DA Davidson boosted their target price on Ameris Bancorp from $61.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Stephens upped their target price on Ameris Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. Finally, StockNews.com raised Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.67.

Insider Transactions at Ameris Bancorp

In related news, Director Robert Dale Ezzell sold 8,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $69.91, for a total value of $559,280.00. Following the transaction, the director now owns 27,444 shares in the company, valued at approximately $1,918,610.04. This represents a 22.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 5.50% of the stock is currently owned by company insiders.

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.