Sei Investments Co. Sells 21,896 Shares of Ameris Bancorp (NASDAQ:ABCB)

Sei Investments Co. decreased its holdings in Ameris Bancorp (NASDAQ:ABCB) by 9.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 200,588 shares of the bank’s stock after selling 21,896 shares during the period. Sei Investments Co.’s holdings in Ameris Bancorp were worth $12,551,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. increased its holdings in shares of Ameris Bancorp by 4.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 3,880 shares of the bank’s stock valued at $243,000 after acquiring an additional 167 shares during the period. GAMMA Investing LLC boosted its position in Ameris Bancorp by 17.9% during 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. Envestnet Portfolio Solutions Inc. grew its stake in Ameris Bancorp by 4.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,174 shares of the bank’s stock valued at $324,000 after purchasing an additional 238 shares during the last quarter. Savant Capital LLC raised its holdings in Ameris Bancorp by 3.8% in the fourth quarter. Savant Capital LLC now owns 7,371 shares of the bank’s stock worth $461,000 after purchasing an additional 267 shares in the last quarter. Finally, Atria Investments Inc lifted its position in shares of Ameris Bancorp by 3.4% during the fourth quarter. Atria Investments Inc now owns 9,124 shares of the bank’s stock valued at $571,000 after buying an additional 298 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Wall Street Analyst Weigh In

ABCB has been the topic of a number of analyst reports. Stephens reaffirmed an “equal weight” rating and issued a $71.00 price objective on shares of Ameris Bancorp in a research report on Friday, January 31st. Raymond James reaffirmed an “outperform” rating and issued a $71.00 price target (up from $67.00) on shares of Ameris Bancorp in a report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods increased their price objective on Ameris Bancorp from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Two 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 a consensus rating of “Moderate Buy” and an average target price of $70.50.

Insider Buying and Selling at Ameris Bancorp

In related news, insider Douglas D. Strange acquired 1,000 shares of the stock in a transaction on Wednesday, March 12th. The shares were acquired 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 approximately $1,105,000.85. This trade represents a 5.43 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.50% of the company’s stock.

Ameris Bancorp Stock Down 2.1 %

NASDAQ:ABCB opened at $57.13 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. Ameris Bancorp has a twelve month low of $44.23 and a twelve month high of $74.56. The company has a market cap of $3.95 billion, a PE ratio of 10.97 and a beta of 1.02. The company’s 50 day moving average is $62.67 and its two-hundred day moving average is $63.91.

Ameris Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Monday, March 31st will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Monday, March 31st. Ameris Bancorp’s dividend payout ratio is currently 15.36%.

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.