Assetmark Inc. Purchases 502 Shares of Ameris Bancorp (NASDAQ:ABCB)

Assetmark Inc. boosted its position in Ameris Bancorp (NASDAQ:ABCBGet Rating) by 18.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,245 shares of the bank’s stock after buying an additional 502 shares during the period. Assetmark Inc.’s holdings in Ameris Bancorp were worth $145,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Wellington Management Group LLP raised its holdings in Ameris Bancorp by 7.4% during the first quarter. Wellington Management Group LLP now owns 5,201,328 shares of the bank’s stock worth $228,235,000 after buying an additional 358,777 shares during the last quarter. State Street Corp grew its stake in shares of Ameris Bancorp by 14.3% in the 1st quarter. State Street Corp now owns 3,897,720 shares of the bank’s stock worth $171,622,000 after acquiring an additional 488,485 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Ameris Bancorp by 16.4% in the second quarter. Principal Financial Group Inc. now owns 2,084,654 shares of the bank’s stock valued at $83,761,000 after purchasing an additional 293,289 shares during the last quarter. William Blair Investment Management LLC lifted its position in shares of Ameris Bancorp by 14.5% during the second quarter. William Blair Investment Management LLC now owns 901,690 shares of the bank’s stock valued at $36,230,000 after purchasing an additional 114,524 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in Ameris Bancorp by 771.2% during the second quarter. Millennium Management LLC now owns 757,238 shares of the bank’s stock worth $30,426,000 after purchasing an additional 670,323 shares during the last quarter. Institutional investors own 86.74% of the company’s stock.

Insider Buying and Selling at Ameris Bancorp

In other news, insider William D. Mckendry sold 3,000 shares of the firm’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $51.96, for a total value of $155,880.00. Following the completion of the transaction, the insider now directly owns 22,274 shares of the company’s stock, valued at $1,157,357.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Jimmy D. Veal sold 1,120 shares of the business’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $51.87, for a total transaction of $58,094.40. Following the completion of the transaction, the director now directly owns 88,425 shares in the company, valued at approximately $4,586,604.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William D. Mckendry sold 3,000 shares of the business’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $51.96, for a total value of $155,880.00. Following the transaction, the insider now owns 22,274 shares of the company’s stock, valued at $1,157,357.04. The disclosure for this sale can be found here. Insiders own 5.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ABCB. StockNews.com assumed coverage on Ameris Bancorp in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Truist Financial lifted their target price on Ameris Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, October 31st. Piper Sandler restated an “overweight” rating and set a $62.00 price target on shares of Ameris Bancorp in a research report on Monday, December 5th. Finally, Raymond James lowered shares of Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research report on Monday, October 31st.

Ameris Bancorp Stock Up 2.8 %

Shares of NASDAQ ABCB opened at $48.22 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.04 and a quick ratio of 1.02. The stock has a market capitalization of $3.34 billion, a PE ratio of 9.66 and a beta of 1.16. Ameris Bancorp has a one year low of $38.22 and a one year high of $54.24. The business’s fifty day moving average price is $49.34 and its 200-day moving average price is $48.03.

Ameris Bancorp (NASDAQ:ABCBGet Rating) last released its quarterly earnings data on Thursday, October 27th. The bank reported $1.32 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.02). The business had revenue of $278.31 million for the quarter, compared to analysts’ expectations of $277.57 million. Ameris Bancorp had a net margin of 31.01% and a return on equity of 10.85%. On average, equities research analysts anticipate that Ameris Bancorp will post 4.92 EPS for the current year.

Ameris Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 9th. Investors of record on Saturday, December 31st were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $0.60 dividend on an annualized basis and a yield of 1.24%. Ameris Bancorp’s dividend payout ratio is 12.02%.

About Ameris Bancorp

(Get Rating)

Ameris Bancorp operates as the bank holding company for Ameris Bank that provides range of banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, North Carolina, and South Carolina. The company operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division.

See Also

Want to see what other hedge funds are holding ABCB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameris Bancorp (NASDAQ:ABCBGet Rating).

Institutional Ownership by Quarter for Ameris Bancorp (NASDAQ:ABCB)

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