Ameris Bancorp (NASDAQ:ABCB) Shares Acquired by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lifted its position in Ameris Bancorp (NASDAQ:ABCB) by 4.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 5,174 shares of the bank’s stock after acquiring an additional 238 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Ameris Bancorp were worth $324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Pathstone Holdings LLC raised its position in shares of Ameris Bancorp by 5.8% in the third quarter. Pathstone Holdings LLC now owns 25,065 shares of the bank’s stock worth $1,564,000 after acquiring an additional 1,364 shares during the period. Intech Investment Management LLC boosted its position in Ameris Bancorp by 152.3% during the third quarter. Intech Investment Management LLC now owns 15,599 shares of the bank’s stock worth $973,000 after purchasing an additional 9,417 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Ameris Bancorp by 9.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 907,140 shares of the bank’s stock valued at $56,596,000 after purchasing an additional 79,060 shares during the period. Citigroup Inc. increased its position in shares of Ameris Bancorp by 32.5% in the third quarter. Citigroup Inc. now owns 142,122 shares of the bank’s stock valued at $8,867,000 after buying an additional 34,881 shares in the last quarter. Finally, Cerity Partners LLC lifted its position in shares of Ameris Bancorp by 14.0% during the 3rd quarter. Cerity Partners LLC now owns 20,295 shares of the bank’s stock valued at $1,266,000 after buying an additional 2,486 shares in the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ABCB has been the topic of several recent analyst reports. Stephens reaffirmed an “equal weight” rating and set a $71.00 price objective on shares of Ameris Bancorp in a report on Friday, January 31st. Keefe, Bruyette & Woods increased their target price on Ameris Bancorp from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $71.00 price target (up from $67.00) on shares of Ameris Bancorp in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.50.

Insider Buying and Selling

In other news, insider Douglas D. Strange purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average price of $56.95 per share, for a total transaction of $56,950.00. Following the acquisition, the insider now directly owns 19,403 shares of the company’s stock, valued at approximately $1,105,000.85. This represents a 5.43 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.50% of the stock is owned by company insiders.

Ameris Bancorp Stock Performance

Shares of Ameris Bancorp stock opened at $58.40 on Friday. The business’s 50 day moving average price is $62.83 and its 200 day moving average price is $63.89. The company has a market cap of $4.03 billion, a price-to-earnings ratio of 11.21 and a beta of 1.02. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. Ameris Bancorp has a one year low of $44.23 and a one year high of $74.56.

Ameris Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 31st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.80 annualized dividend and a dividend yield of 1.37%. Ameris Bancorp’s payout ratio is 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.