SageView Advisory Group LLC Sells 2,398 Shares of Ameris Bancorp (NASDAQ:ABCB)

SageView Advisory Group LLC decreased its position in Ameris Bancorp (NASDAQ:ABCBFree Report) by 35.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,273 shares of the bank’s stock after selling 2,398 shares during the period. SageView Advisory Group LLC’s holdings in Ameris Bancorp were worth $222,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Prospector Partners LLC lifted its holdings in shares of Ameris Bancorp by 23.2% in the 4th quarter. Prospector Partners LLC now owns 190,111 shares of the bank’s stock worth $10,085,000 after buying an additional 35,800 shares during the period. Journey Strategic Wealth LLC purchased a new stake in Ameris Bancorp in the fourth quarter worth about $203,000. Quest Partners LLC bought a new position in Ameris Bancorp during the 4th quarter worth about $1,777,000. Trexquant Investment LP bought a new stake in shares of Ameris Bancorp in the 4th quarter valued at about $205,000. Finally, Corient Private Wealth LLC lifted its position in shares of Ameris Bancorp by 71.5% in the 4th quarter. Corient Private Wealth LLC now owns 11,546 shares of the bank’s stock worth $613,000 after purchasing an additional 4,813 shares during the period. Institutional investors own 91.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ABCB shares. Piper Sandler lifted their target price on Ameris Bancorp from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Truist Financial cut their price target on shares of Ameris Bancorp from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, April 1st. Stephens reissued an “equal weight” rating and set a $53.00 price objective on shares of Ameris Bancorp in a report on Friday, April 26th. Finally, raised Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.00.

Read Our Latest Analysis on ABCB

Insider Activity at Ameris Bancorp

In related news, insider Jon S. Edwards sold 7,500 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $47.35, for a total transaction of $355,125.00. Following the sale, the insider now owns 59,691 shares in the company, valued at $2,826,368.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 5.50% of the company’s stock.

Ameris Bancorp Stock Down 1.1 %

ABCB stock opened at $46.96 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.04 and a quick ratio of 1.02. The firm’s fifty day simple moving average is $47.83 and its 200-day simple moving average is $47.98. Ameris Bancorp has a 12 month low of $30.85 and a 12 month high of $53.99. The company has a market capitalization of $3.25 billion, a P/E ratio of 11.43 and a beta of 1.04.

Ameris Bancorp (NASDAQ:ABCBGet Free Report) last announced its quarterly earnings results on Friday, April 26th. The bank reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.06. The company had revenue of $267.27 million for the quarter, compared to the consensus estimate of $258.05 million. Ameris Bancorp had a return on equity of 8.62% and a net margin of 18.06%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period last year, the firm earned $0.86 EPS. As a group, equities research analysts forecast that Ameris Bancorp will post 4.59 earnings per share for the current year.

Ameris Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 8th. Stockholders of record on Sunday, March 31st were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.28%. Ameris Bancorp’s payout ratio is 14.60%.

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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