Ameris Bancorp (NASDAQ:ABCB) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its stake in Ameris Bancorp (NASDAQ:ABCB) by 3.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,055 shares of the bank’s stock after selling 772 shares during the period. Amalgamated Bank’s holdings in Ameris Bancorp were worth $1,189,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC raised its position in Ameris Bancorp by 2.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 12,503 shares of the bank’s stock valued at $780,000 after purchasing an additional 258 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Ameris Bancorp by 38.0% during the third quarter. GAMMA Investing LLC now owns 1,130 shares of the bank’s stock worth $71,000 after buying an additional 311 shares during the period. CWM LLC raised its holdings in Ameris Bancorp by 33.5% in the second quarter. CWM LLC now owns 1,310 shares of the bank’s stock valued at $66,000 after acquiring an additional 329 shares in the last quarter. Arizona State Retirement System lifted its stake in Ameris Bancorp by 1.8% in the second quarter. Arizona State Retirement System now owns 18,359 shares of the bank’s stock worth $924,000 after acquiring an additional 331 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in Ameris Bancorp by 249.5% during the 3rd quarter. Blue Trust Inc. now owns 713 shares of the bank’s stock worth $44,000 after acquiring an additional 509 shares in the last quarter. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Ameris Bancorp Stock Down 0.8 %

ABCB opened at $69.98 on Thursday. Ameris Bancorp has a one year low of $40.71 and a one year high of $72.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.03. The stock has a market capitalization of $4.83 billion, a P/E ratio of 14.58 and a beta of 1.01. The business’s 50-day simple moving average is $63.02 and its 200-day simple moving average is $56.55.

Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings results on Thursday, October 24th. The bank reported $1.38 EPS for the quarter, topping the consensus estimate of $1.25 by $0.13. Ameris Bancorp had a return on equity of 9.18% and a net margin of 20.08%. The company had revenue of $424.86 million for the quarter, compared to analyst estimates of $290.60 million. During the same quarter in the previous year, the company posted $1.16 earnings per share. Analysts anticipate that Ameris Bancorp will post 4.83 EPS for the current year.

Ameris Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were issued a $0.15 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.86%. Ameris Bancorp’s payout ratio is 12.50%.

Insider Activity at Ameris Bancorp

In other Ameris Bancorp news, Director Robert Dale Ezzell sold 8,000 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 27,444 shares of the company’s stock, valued at approximately $1,918,610.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 5.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ABCB shares. DA Davidson lifted their price objective on shares of Ameris Bancorp from $61.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods upped their price objective on Ameris Bancorp from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Truist Financial cut their target price on Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Stephens boosted their target price on Ameris Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating 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 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. According to MarketBeat.com, Ameris Bancorp presently has an average rating of “Moderate Buy” and an average price target of $66.67.

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.