Great West Life Assurance Co. Can Makes New $3.27 Million Investment in Ameris Bancorp (NASDAQ:ABCB)

Great West Life Assurance Co. Can acquired a new position in Ameris Bancorp (NASDAQ:ABCBGet Rating) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 73,315 shares of the bank’s stock, valued at approximately $3,274,000.

Several other hedge funds have also added to or reduced their stakes in ABCB. Assetmark Inc. increased its stake in shares of Ameris Bancorp by 18.3% in the third quarter. Assetmark Inc. now owns 3,245 shares of the bank’s stock worth $145,000 after purchasing an additional 502 shares in the last quarter. Atria Investments LLC purchased a new position in shares of Ameris Bancorp in the third quarter worth about $1,002,000. SG Americas Securities LLC increased its stake in shares of Ameris Bancorp by 5.4% in the third quarter. SG Americas Securities LLC now owns 17,498 shares of the bank’s stock worth $782,000 after purchasing an additional 899 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of Ameris Bancorp by 15.7% in the third quarter. New York State Teachers Retirement System now owns 41,169 shares of the bank’s stock worth $1,841,000 after purchasing an additional 5,577 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Ameris Bancorp by 89.5% in the third quarter. CWM LLC now owns 667 shares of the bank’s stock worth $30,000 after purchasing an additional 315 shares in the last quarter. Institutional investors own 86.74% of the company’s stock.

Wall Street Analyst Weigh In

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

Ameris Bancorp Price Performance

Shares of NASDAQ:ABCB opened at $47.77 on Wednesday. The company has a 50 day moving average of $49.15 and a 200 day moving average of $48.18. The stock has a market cap of $3.31 billion, a P/E ratio of 9.57 and a beta of 1.16. Ameris Bancorp has a 12 month low of $38.22 and a 12 month high of $54.24. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.27.

Ameris Bancorp (NASDAQ:ABCBGet Rating) last announced its earnings results on Thursday, October 27th. The bank reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.02). Ameris Bancorp had a net margin of 31.01% and a return on equity of 10.85%. The company had revenue of $278.31 million for the quarter, compared to the consensus estimate of $277.57 million. As a group, sell-side analysts forecast that Ameris Bancorp will post 4.92 EPS for the current fiscal year.

Ameris Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 9th. Shareholders of record on Saturday, December 31st were given a dividend of $0.15 per share. The ex-dividend date was Thursday, December 29th. This represents a $0.60 annualized dividend and a yield of 1.26%. Ameris Bancorp’s payout ratio is presently 12.02%.

Insider Buying and Selling at Ameris Bancorp

In other Ameris Bancorp news, insider William D. Mckendry sold 3,000 shares of Ameris Bancorp stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $51.96, for a total transaction of $155,880.00. Following the completion of the sale, the insider now directly owns 22,274 shares in the company, valued at $1,157,357.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Jimmy D. Veal sold 1,120 shares of the business’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $51.87, for a total value of $58,094.40. Following the completion of the sale, the director now directly owns 88,425 shares in the company, valued at approximately $4,586,604.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider William D. Mckendry sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $51.96, for a total transaction of $155,880.00. Following the completion of the sale, 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. 5.50% of the stock is currently owned by company insiders.

About Ameris Bancorp

(Get Rating)

Ameris Bancorp is a bank holding company, which through the subsidiary, Ameris Bank, engages in the provision of banking services to its retail and commercial customers. It operates through the following business segments: Banking, Retail Mortgage, Warehouse Lending, the SBA and Premium Finance. The Banking segment offers full service financial services to include commercial loans, consumer loans and deposit accounts.

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

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