Envestnet Asset Management Inc. Raises Holdings in Ameris Bancorp (NASDAQ:ABCB)

Envestnet Asset Management Inc. increased its stake in shares of Ameris Bancorp (NASDAQ:ABCBGet Rating) by 4.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,166 shares of the bank’s stock after purchasing an additional 1,874 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Ameris Bancorp were worth $1,815,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ABCB. State Street Corp lifted its stake in shares of Ameris Bancorp by 14.3% during the 1st quarter. State Street Corp now owns 3,897,720 shares of the bank’s stock worth $171,622,000 after purchasing an additional 488,485 shares during the last quarter. American Century Companies Inc. increased its position in Ameris Bancorp by 22.5% during the 1st quarter. American Century Companies Inc. now owns 2,155,800 shares of the bank’s stock valued at $94,597,000 after buying an additional 396,045 shares in the last quarter. Wellington Management Group LLP increased its position in Ameris Bancorp by 7.4% during the 1st quarter. Wellington Management Group LLP now owns 5,201,328 shares of the bank’s stock valued at $228,235,000 after buying an additional 358,777 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Ameris Bancorp by 5.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,160,720 shares of the bank’s stock valued at $138,695,000 after buying an additional 162,160 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Ameris Bancorp by 32.1% during the 1st quarter. JPMorgan Chase & Co. now owns 331,742 shares of the bank’s stock valued at $14,557,000 after buying an additional 80,551 shares in the last quarter. 86.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ABCB. StockNews.com began coverage on Ameris Bancorp in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Truist Financial upped their target price on Ameris Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, October 31st. Finally, Raymond James lowered Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research report on Monday, October 31st.

Insider Activity

In other news, insider William D. Mckendry sold 3,000 shares of the stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $51.96, for a total value of $155,880.00. Following the transaction, the insider now directly owns 22,274 shares of the company’s stock, valued at $1,157,357.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.50% of the company’s stock.

Ameris Bancorp Stock Up 1.5 %

Shares of ABCB stock opened at $52.02 on Friday. The stock’s 50-day simple moving average is $49.34 and its 200-day simple moving average is $46.06. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.02 and a current ratio of 1.04. The firm has a market capitalization of $3.61 billion, a PE ratio of 10.42 and a beta of 1.16. Ameris Bancorp has a fifty-two week low of $38.22 and a fifty-two week high of $55.62.

Ameris Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 10th. Stockholders of record on Friday, September 30th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Thursday, September 29th. Ameris Bancorp’s dividend payout ratio is presently 12.02%.

Ameris Bancorp Profile

(Get Rating)

Ameris Bancorp operates as the bank holding company for Ameris Bank that provides range of banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, North Carolina, and South Carolina. The company operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division.

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Institutional Ownership by Quarter for Ameris Bancorp (NASDAQ:ABCB)

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