Ameris Bancorp (NASDAQ:ABCB) Shares Purchased by Algert Global LLC

Algert Global LLC increased its stake in shares of Ameris Bancorp (NASDAQ:ABCB) by 208.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,393 shares of the bank’s stock after purchasing an additional 56,320 shares during the quarter. Algert Global LLC owned approximately 0.12% of Ameris Bancorp worth $5,203,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Ameris Bancorp by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 7,560,371 shares of the bank’s stock worth $365,771,000 after acquiring an additional 92,491 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Ameris Bancorp by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 4,374,719 shares of the bank’s stock valued at $220,263,000 after purchasing an additional 45,240 shares during the period. Independent Advisor Alliance increased its stake in Ameris Bancorp by 0.8% in the second quarter. Independent Advisor Alliance now owns 2,533,580 shares of the bank’s stock valued at $127,566,000 after purchasing an additional 19,287 shares during the last quarter. Principal Financial Group Inc. increased its stake in Ameris Bancorp by 4.6% in the third quarter. Principal Financial Group Inc. now owns 1,263,487 shares of the bank’s stock valued at $78,829,000 after purchasing an additional 55,473 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Ameris Bancorp by 9.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 907,140 shares of the bank’s stock worth $56,596,000 after buying an additional 79,060 shares during the period. 91.64% of the stock is owned by institutional investors and hedge funds.

Ameris Bancorp Trading Up 2.9 %

NASDAQ:ABCB opened at $71.79 on Monday. The business’s 50-day moving average is $64.38 and its two-hundred day moving average is $57.62. The firm has a market capitalization of $4.96 billion, a PE ratio of 14.96 and a beta of 1.01. Ameris Bancorp has a 12 month low of $41.00 and a 12 month high of $72.68. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.03 and a quick ratio of 1.01.

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

Ameris Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.60 annualized dividend and a dividend yield of 0.84%. Ameris Bancorp’s dividend payout ratio (DPR) is presently 12.50%.

Insider Activity

In related news, Director Robert Dale Ezzell sold 8,000 shares of the business’s 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 transaction, the director now owns 27,444 shares in the company, valued at approximately $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 can be accessed through this link. Insiders own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ABCB. Raymond James raised shares of Ameris Bancorp from a “market perform” rating to an “outperform” rating and set a $67.00 price objective for the company in a research note on Monday, October 28th. Keefe, Bruyette & Woods lifted their price target on shares of Ameris Bancorp from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, July 29th. 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. Stephens lifted their target price on Ameris Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. Finally, StockNews.com raised Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Ameris Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $66.67.

Ameris Bancorp Company Profile

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.