Victory Capital Management Inc. Sells 13,502 Shares of Ameris Bancorp (NASDAQ:ABCB)

Victory Capital Management Inc. lowered its stake in shares of Ameris Bancorp (NASDAQ:ABCBGet Rating) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 662,176 shares of the bank’s stock after selling 13,502 shares during the period. Victory Capital Management Inc.’s holdings in Ameris Bancorp were worth $29,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ABCB. Wellington Management Group LLP increased its position in Ameris Bancorp by 7.4% in the first quarter. Wellington Management Group LLP now owns 5,201,328 shares of the bank’s stock worth $228,235,000 after purchasing an additional 358,777 shares during the last quarter. State Street Corp increased its position in Ameris Bancorp by 14.3% in the first 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. Principal Financial Group Inc. increased its position in Ameris Bancorp by 16.4% in the second quarter. Principal Financial Group Inc. now owns 2,084,654 shares of the bank’s stock worth $83,761,000 after purchasing an additional 293,289 shares during the last quarter. William Blair Investment Management LLC increased its position in Ameris Bancorp by 14.5% in the second quarter. William Blair Investment Management LLC now owns 901,690 shares of the bank’s stock worth $36,230,000 after purchasing an additional 114,524 shares during the last quarter. Finally, Millennium Management LLC increased its position in Ameris Bancorp by 771.2% in the second quarter. Millennium Management LLC now owns 757,238 shares of the bank’s stock worth $30,426,000 after purchasing an additional 670,323 shares during the last quarter. Institutional investors own 86.74% of the company’s stock.

Insider Buying and Selling

In related news, insider William D. Mckendry sold 3,000 shares of the company’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $51.96, for a total value of $155,880.00. Following the completion of the sale, the insider now directly owns 22,274 shares of the company’s stock, valued at $1,157,357.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider William D. Mckendry sold 3,000 shares of the company’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $51.96, for a total value of $155,880.00. Following the completion of the sale, the insider now directly owns 22,274 shares of the company’s stock, valued at $1,157,357.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jimmy D. Veal sold 1,120 shares of the business’s stock in a transaction dated Monday, November 21st. The stock was 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 owns 88,425 shares of the company’s stock, valued at $4,586,604.75. The disclosure for this sale can be found here. 5.50% of the stock is owned by insiders.

Ameris Bancorp Stock Up 2.8 %

Shares of ABCB opened at $48.22 on Monday. The firm has a market capitalization of $3.34 billion, a P/E ratio of 9.66 and a beta of 1.16. Ameris Bancorp has a 12-month low of $38.22 and a 12-month high of $54.24. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.27. The firm has a fifty day moving average price of $49.34 and a 200-day moving average price of $48.08.

Ameris Bancorp (NASDAQ:ABCBGet Rating) last issued its earnings results on Thursday, October 27th. The bank reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.02). The company had revenue of $278.31 million for the quarter, compared to analysts’ expectations of $277.57 million. Ameris Bancorp had a net margin of 31.01% and a return on equity of 10.85%. Equities research analysts expect that Ameris Bancorp will post 4.92 earnings per share for the current year.

Ameris Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 9th. Investors of record on Saturday, December 31st were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Thursday, December 29th. Ameris Bancorp’s dividend payout ratio (DPR) is presently 12.02%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ABCB shares. StockNews.com started coverage on shares of Ameris Bancorp in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Piper Sandler reiterated an “overweight” rating and set a $62.00 price objective on shares of Ameris Bancorp in a research report on Monday, December 5th. Truist Financial boosted their price objective on shares of 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 cut shares of Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research report on Monday, October 31st.

Ameris Bancorp Company 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.

See Also

Want to see what other hedge funds are holding ABCB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameris Bancorp (NASDAQ:ABCBGet Rating).

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

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