The Manufacturers Life Insurance Company lowered its position in shares of Ameris Bancorp (NASDAQ:ABCB – Free Report) by 5.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 453,642 shares of the bank’s stock after selling 24,571 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.66% of Ameris Bancorp worth $28,303,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. bought a new position in Ameris Bancorp during the 2nd quarter valued at about $33,000. GAMMA Investing LLC boosted its holdings in Ameris Bancorp by 66.1% in the second quarter. GAMMA Investing LLC now owns 819 shares of the bank’s stock worth $41,000 after purchasing an additional 326 shares during the last quarter. Blue Trust Inc. grew its position in Ameris Bancorp by 249.5% in the 3rd quarter. Blue Trust Inc. now owns 713 shares of the bank’s stock worth $44,000 after purchasing an additional 509 shares during the period. CWM LLC raised its stake in Ameris Bancorp by 33.5% during the 2nd quarter. CWM LLC now owns 1,310 shares of the bank’s stock valued at $66,000 after buying an additional 329 shares during the last quarter. Finally, US Bancorp DE lifted its holdings 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 buying an additional 1,868 shares during the period. 91.64% of the stock is currently owned by hedge funds and other institutional investors.
Ameris Bancorp Stock Down 0.9 %
ABCB stock opened at $70.28 on Friday. The business’s 50-day moving average price is $65.06 and its 200-day moving average price is $58.10. The stock has a market cap of $4.85 billion, a P/E ratio of 14.64 and a beta of 1.01. Ameris Bancorp has a twelve month low of $42.25 and a twelve month high of $74.56. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.13.
Ameris Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were paid a $0.15 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.60 dividend on an annualized basis and a yield of 0.85%. Ameris Bancorp’s payout ratio is presently 12.50%.
Insider Buying and Selling at Ameris Bancorp
In other Ameris Bancorp news, Director Robert Dale Ezzell sold 8,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $69.91, for a total transaction of $559,280.00. Following the completion of the sale, the director now directly owns 27,444 shares of the company’s stock, valued at $1,918,610.04. This trade represents a 22.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 5.50% of the company’s stock.
Wall Street Analysts Forecast Growth
ABCB has been the subject of several research analyst reports. Stephens lifted their price objective on Ameris Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating in a report on Monday, October 28th. Raymond James upgraded Ameris Bancorp from a “market perform” rating to an “outperform” rating and set a $67.00 price target for the company in a research note on Monday, October 28th. Truist Financial lowered their price objective on shares of Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Finally, StockNews.com upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $66.67.
Get Our Latest Analysis on ABCB
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.
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