Segall Bryant & Hamill LLC Trims Holdings in Ameris Bancorp (NASDAQ:ABCB)

Segall Bryant & Hamill LLC lowered its position in shares of Ameris Bancorp (NASDAQ:ABCB) by 0.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 669,192 shares of the bank’s stock after selling 4,218 shares during the quarter. Segall Bryant & Hamill LLC owned 0.97% of Ameris Bancorp worth $41,751,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. 1620 Investment Advisors Inc. purchased a new position in shares of Ameris Bancorp during the 2nd quarter valued at $33,000. GAMMA Investing LLC raised its holdings in Ameris Bancorp by 66.1% during the second quarter. GAMMA Investing LLC now owns 819 shares of the bank’s stock valued at $41,000 after acquiring an additional 326 shares during the period. Blue Trust Inc. lifted its position in shares of Ameris Bancorp by 249.5% in the third quarter. Blue Trust Inc. now owns 713 shares of the bank’s stock valued at $44,000 after acquiring an additional 509 shares in the last quarter. CWM LLC boosted its stake in shares of Ameris Bancorp by 33.5% in the second quarter. CWM LLC now owns 1,310 shares of the bank’s stock worth $66,000 after acquiring an additional 329 shares during the period. Finally, US Bancorp DE grew its position in shares of Ameris Bancorp by 3,396.4% during the third quarter. US Bancorp DE now owns 1,923 shares of the bank’s stock worth $120,000 after purchasing an additional 1,868 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ABCB has been the topic of several recent analyst reports. Truist Financial reduced their price objective on shares of Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Raymond James upgraded Ameris Bancorp from a “market perform” rating to an “outperform” rating and set a $67.00 price objective for the company in a research report on Monday, October 28th. StockNews.com raised Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Keefe, Bruyette & Woods raised their price target on Ameris Bancorp from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Finally, DA Davidson upped their price objective on Ameris Bancorp from $61.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Ameris Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $66.67.

Ameris Bancorp Trading Down 0.1 %

ABCB stock opened at $68.71 on Wednesday. The firm’s fifty day simple moving average is $63.78 and its two-hundred day simple moving average is $57.19. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of 14.31 and a beta of 1.01. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.13. Ameris Bancorp has a twelve month low of $40.71 and a twelve month high of $72.68.

Ameris Bancorp (NASDAQ:ABCB) last announced its earnings results on Thursday, October 24th. The bank reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.13. Ameris Bancorp had a return on equity of 9.18% and a net margin of 20.08%. The business had revenue of $424.86 million during the quarter, compared to analyst estimates of $290.60 million. During the same quarter in the previous year, the business earned $1.16 earnings per share. As a group, analysts anticipate that Ameris Bancorp will post 4.83 earnings per share for the current year.

Ameris Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Monday, September 30th. Ameris Bancorp’s payout ratio is presently 12.50%.

Insider Buying and Selling

In related news, Director Robert Dale Ezzell sold 8,000 shares of Ameris Bancorp stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $69.91, for a total value of $559,280.00. Following the completion of the sale, the director now directly owns 27,444 shares in the company, valued at $1,918,610.04. The trade was a 22.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.50% of the stock is currently owned by insiders.

About Ameris Bancorp

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.