Ameris Bancorp (NASDAQ:ABCB) Shares Sold by Cerity Partners LLC

Cerity Partners LLC reduced its position in shares of Ameris Bancorp (NASDAQ:ABCB) by 17.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,852 shares of the bank’s stock after selling 3,443 shares during the period. Cerity Partners LLC’s holdings in Ameris Bancorp were worth $1,054,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Picton Mahoney Asset Management boosted its position in shares of Ameris Bancorp by 2,436.8% in the fourth quarter. Picton Mahoney Asset Management now owns 482 shares of the bank’s stock worth $30,000 after acquiring an additional 463 shares during the last quarter. R Squared Ltd acquired a new stake in Ameris Bancorp during the 4th quarter valued at $51,000. Blue Trust Inc. grew its stake in shares of Ameris Bancorp by 56.1% during the fourth quarter. Blue Trust Inc. now owns 1,113 shares of the bank’s stock valued at $69,000 after acquiring an additional 400 shares in the last quarter. GAMMA Investing LLC grew its stake in Ameris Bancorp by 17.9% during the 4th 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 grew its position in shares of Ameris Bancorp by 167.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the bank’s stock worth $90,000 after buying an additional 896 shares in the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Insiders Place Their Bets

In other Ameris Bancorp news, insider Douglas D. Strange bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average price of $56.95 per share, with a total value of $56,950.00. Following the completion of the transaction, the insider now directly owns 19,403 shares in the company, valued at approximately $1,105,000.85. This represents a 5.43 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

ABCB has been the subject of several research analyst reports. Stephens reissued an “equal weight” rating and issued a $71.00 price objective on shares of Ameris Bancorp in a report on Friday, January 31st. Raymond James restated an “outperform” rating and issued a $71.00 price target (up previously from $67.00) on shares of Ameris Bancorp in a research note on Monday, February 3rd. Piper Sandler initiated coverage on shares of Ameris Bancorp in a research note on Friday, April 4th. They set an “overweight” rating and a $74.00 price objective on the stock. Finally, Piper Sandler Companies upped their target price on Ameris Bancorp to $74.00 and gave the stock a “buy” rating in a research report on Monday, April 7th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $73.43.

Ameris Bancorp Price Performance

ABCB stock opened at $53.10 on Friday. The firm has a 50-day moving average of $58.29 and a two-hundred day moving average of $62.85. The firm has a market capitalization of $3.67 billion, a PE ratio of 10.19 and a beta of 0.87. 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 one year low of $44.30 and a one year high of $74.56.

Ameris Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Monday, March 31st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend was Monday, March 31st. Ameris Bancorp’s dividend payout ratio is 15.36%.

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.