Denali Advisors LLC Lowers Holdings in Ameris Bancorp (NASDAQ:ABCB)

Denali Advisors LLC cut its holdings in Ameris Bancorp (NASDAQ:ABCBFree Report) by 24.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,000 shares of the bank’s stock after selling 1,300 shares during the period. Denali Advisors LLC’s holdings in Ameris Bancorp were worth $212,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Ameris Bancorp during the 4th quarter worth approximately $31,774,000. State Street Corp raised its holdings in shares of Ameris Bancorp by 14.3% during 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. Nuveen Asset Management LLC raised its holdings in shares of Ameris Bancorp by 67.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,060,813 shares of the bank’s stock worth $36,290,000 after acquiring an additional 427,511 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Ameris Bancorp by 7.4% during the 1st quarter. Wellington Management Group LLP now owns 5,201,328 shares of the bank’s stock worth $228,235,000 after acquiring an additional 358,777 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Ameris Bancorp by 61.7% during the 1st quarter. JPMorgan Chase & Co. now owns 742,231 shares of the bank’s stock worth $27,151,000 after acquiring an additional 283,307 shares in the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ameris Bancorp

In other Ameris Bancorp news, insider Jon S. Edwards sold 7,500 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $47.35, for a total value of $355,125.00. Following the transaction, the insider now owns 59,691 shares of the company’s stock, valued at approximately $2,826,368.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.60% of the stock is currently owned by corporate insiders.

Ameris Bancorp Stock Performance

NASDAQ ABCB opened at $48.38 on Monday. The business’s 50 day moving average price is $47.83 and its 200-day moving average price is $45.10. The company has a market cap of $3.34 billion, a P/E ratio of 12.41 and a beta of 1.04. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.02 and a current ratio of 1.03. Ameris Bancorp has a fifty-two week low of $28.33 and a fifty-two week high of $53.99.

Ameris Bancorp (NASDAQ:ABCBGet Free Report) last announced its quarterly earnings data on Thursday, January 25th. The bank reported $1.07 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.05). The business had revenue of $262.35 million during the quarter, compared to the consensus estimate of $267.23 million. Ameris Bancorp had a net margin of 17.67% and a return on equity of 8.30%. Sell-side analysts predict that Ameris Bancorp will post 4.46 earnings per share for the current year.

Ameris Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 8th. Shareholders of record on Sunday, March 31st will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Wednesday, March 27th. Ameris Bancorp’s dividend payout ratio (DPR) is presently 15.38%.

Analyst Ratings Changes

ABCB has been the topic of several recent research reports. Stephens reaffirmed an “equal weight” rating and set a $53.00 price objective on shares of Ameris Bancorp in a report on Tuesday, January 30th. StockNews.com downgraded Ameris Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. Finally, DA Davidson reissued a “buy” rating on shares of Ameris Bancorp in a research report on Monday, January 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $49.00.

Check Out Our Latest Analysis on ABCB

Ameris Bancorp Profile

(Free Report)

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.

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

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