Ameris Bancorp (NASDAQ:ABCB) Shares Sold by Fiduciary Group LLC

Fiduciary Group LLC lowered its position in Ameris Bancorp (NASDAQ:ABCB) by 6.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,700 shares of the bank’s stock after selling 500 shares during the period. Fiduciary Group LLC’s holdings in Ameris Bancorp were worth $355,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of ABCB. Russell Investments Group Ltd. boosted its stake in shares of Ameris Bancorp by 17.3% during the fourth quarter. Russell Investments Group Ltd. now owns 35,992 shares of the bank’s stock worth $1,909,000 after buying an additional 5,302 shares during the period. GAMMA Investing LLC purchased a new stake in Ameris Bancorp during the 4th quarter valued at approximately $31,000. New York State Common Retirement Fund lifted its position in Ameris Bancorp by 7.0% during the 4th quarter. New York State Common Retirement Fund now owns 276,624 shares of the bank’s stock worth $14,675,000 after acquiring an additional 18,090 shares during the period. Xponance Inc. purchased a new position in shares of Ameris Bancorp in the 4th quarter valued at approximately $211,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Ameris Bancorp by 16.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,398 shares of the bank’s stock valued at $817,000 after purchasing an additional 2,210 shares during the period. 91.64% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Jon S. Edwards sold 7,500 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $47.35, for a total value of $355,125.00. Following the sale, the insider now directly 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 SEC, which is available through this hyperlink. 5.60% of the stock is owned by company insiders.

Ameris Bancorp Stock Performance

Shares of ABCB opened at $48.50 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.22. Ameris Bancorp has a 52-week low of $28.33 and a 52-week high of $53.99. The company has a 50-day simple moving average of $46.61 and a 200-day simple moving average of $46.34. The company has a market capitalization of $3.35 billion, a PE ratio of 11.80 and a beta of 1.05.

Ameris Bancorp (NASDAQ:ABCB) last issued its earnings results on Friday, April 26th. The bank reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.06. The company had revenue of $267.27 million during the quarter, compared to analysts’ expectations of $258.05 million. Ameris Bancorp had a net margin of 18.06% and a return on equity of 8.62%. The firm’s quarterly revenue was down .2% compared to the same quarter last year. During the same period last year, the company posted $0.86 earnings per share. Equities research analysts predict that Ameris Bancorp will post 4.47 earnings per share for the current fiscal year.

Ameris Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 8th. Investors of record on Sunday, March 31st were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.60 annualized dividend and a yield of 1.24%. Ameris Bancorp’s dividend payout ratio is presently 14.60%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ABCB shares. Piper Sandler increased their price target on Ameris Bancorp from $55.00 to $57.00 and gave the stock an “overweight” rating in a report on Monday. StockNews.com upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Monday. Truist Financial dropped 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 restated an “equal weight” rating and issued a $53.00 price objective on shares of Ameris Bancorp in a research report on Friday. Finally, DA Davidson reissued a “buy” rating on shares of Ameris Bancorp in a report on Monday, January 15th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Ameris Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.00.

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.