Swiss National Bank Sells 8,800 Shares of Ameris Bancorp (NASDAQ:ABCB)

Swiss National Bank reduced its stake in shares of Ameris Bancorp (NASDAQ:ABCBGet Rating) by 5.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 155,844 shares of the bank’s stock after selling 8,800 shares during the quarter. Swiss National Bank’s holdings in Ameris Bancorp were worth $6,262,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ABCB. Mutual of America Capital Management LLC grew its stake in shares of Ameris Bancorp by 5.5% during the first quarter. Mutual of America Capital Management LLC now owns 9,532 shares of the bank’s stock valued at $418,000 after buying an additional 494 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of Ameris Bancorp by 4.4% in the first quarter. New York State Common Retirement Fund now owns 301,112 shares of the bank’s stock worth $13,213,000 after purchasing an additional 12,579 shares during the last quarter. Royce & Associates LP grew its stake in shares of Ameris Bancorp by 2.8% in the first quarter. Royce & Associates LP now owns 36,032 shares of the bank’s stock worth $1,581,000 after purchasing an additional 977 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Ameris Bancorp by 21.9% in the first quarter. Fisher Asset Management LLC now owns 67,162 shares of the bank’s stock worth $2,947,000 after purchasing an additional 12,044 shares during the last quarter. Finally, IndexIQ Advisors LLC grew its stake in shares of Ameris Bancorp by 10.6% in the first quarter. IndexIQ Advisors LLC now owns 8,895 shares of the bank’s stock worth $390,000 after purchasing an additional 853 shares during the last quarter. 86.79% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Ameris Bancorp news, Director Jimmy D. Veal sold 1,120 shares of the firm’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $51.87, for a total value of $58,094.40. Following the completion of the sale, the director now directly owns 88,425 shares in the company, valued at $4,586,604.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Jimmy D. Veal sold 1,120 shares of Ameris Bancorp stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $51.87, for a total transaction of $58,094.40. Following the completion of the transaction, the director now directly owns 88,425 shares in the company, valued at $4,586,604.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William D. Mckendry sold 3,000 shares of Ameris Bancorp stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $51.96, for a total transaction of $155,880.00. Following the transaction, the insider now owns 22,274 shares of the company’s stock, valued at $1,157,357.04. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

Ameris Bancorp Stock Performance

Shares of ABCB opened at $52.67 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.04 and a quick ratio of 1.02. Ameris Bancorp has a one year low of $38.22 and a one year high of $55.62. The company has a 50-day simple moving average of $49.66 and a two-hundred day simple moving average of $46.25. The firm has a market capitalization of $3.65 billion, a PE ratio of 10.56 and a beta of 1.16.

Ameris Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 10th. Shareholders of record on Friday, September 30th were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, September 29th. This represents a $0.60 annualized dividend and a yield of 1.14%. Ameris Bancorp’s dividend payout ratio (DPR) 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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