3,200 Shares in Ameris Bancorp (NASDAQ:ABCB) Acquired by Jacksonville Wealth Management LLC

Jacksonville Wealth Management LLC purchased a new stake in shares of Ameris Bancorp (NASDAQ:ABCB) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 3,200 shares of the bank’s stock, valued at approximately $200,000.

Several other hedge funds also recently modified their holdings of ABCB. Blue Trust Inc. lifted its holdings 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 buying an additional 509 shares during the period. GAMMA Investing LLC lifted its holdings in Ameris Bancorp by 38.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,130 shares of the bank’s stock valued at $71,000 after acquiring an additional 311 shares during the last quarter. USA Financial Formulas bought a new position in shares of Ameris Bancorp during the 4th quarter valued at about $98,000. US Bancorp DE grew its stake in shares of Ameris Bancorp by 3,396.4% in the 3rd quarter. US Bancorp DE now owns 1,923 shares of the bank’s stock worth $120,000 after purchasing an additional 1,868 shares during the last quarter. Finally, CWM LLC raised its holdings in shares of Ameris Bancorp by 105.8% in the 3rd quarter. CWM LLC now owns 2,696 shares of the bank’s stock worth $168,000 after purchasing an additional 1,386 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Ameris Bancorp Stock Performance

Shares of Ameris Bancorp stock opened at $64.35 on Friday. Ameris Bancorp has a 12 month low of $44.22 and a 12 month high of $74.56. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.13. The stock has a market cap of $4.44 billion, a PE ratio of 13.41 and a beta of 1.06. The business has a fifty day simple moving average of $65.55 and a 200-day simple moving average of $62.72.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.13. The firm had revenue of $424.86 million during the quarter, compared to analyst estimates 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 company posted $1.16 EPS. On average, sell-side analysts anticipate that Ameris Bancorp will post 4.84 EPS for the current fiscal year.

Ameris Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Tuesday, December 31st were issued a dividend of $0.20 per share. This is a boost from Ameris Bancorp’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Tuesday, December 31st. Ameris Bancorp’s dividend payout ratio (DPR) is currently 16.67%.

Insider Activity at Ameris Bancorp

In other Ameris Bancorp news, Director Robert Dale Ezzell sold 8,000 shares of Ameris Bancorp stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $69.91, for a total transaction of $559,280.00. Following the completion of the sale, the director now owns 27,444 shares of the company’s stock, valued at $1,918,610.04. This trade represents a 22.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 5.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ABCB has been the subject of a number of research reports. Stephens raised their target price on shares of Ameris Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating in a report on Monday, October 28th. Truist Financial reduced their price objective on Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Keefe, Bruyette & Woods boosted their target price on Ameris Bancorp from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Raymond James upgraded Ameris Bancorp from a “market perform” rating to an “outperform” rating and set a $67.00 price target for the company in a research report on Monday, October 28th. Finally, StockNews.com raised Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. 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 MarketBeat, Ameris Bancorp presently has an average rating of “Moderate Buy” and an average price target of $69.17.

Ameris Bancorp 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.