Norges Bank Acquires New Stake in Ameris Bancorp (NASDAQ:ABCB)

Norges Bank bought a new position in Ameris Bancorp (NASDAQ:ABCB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 773,220 shares of the bank's stock, valued at approximately $48,380,000. Norges Bank owned approximately 1.12% of Ameris Bancorp at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. FMR LLC boosted its stake in shares of Ameris Bancorp by 24.7% in the 3rd quarter. FMR LLC now owns 94,887 shares of the bank's stock valued at $5,920,000 after purchasing an additional 18,822 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Ameris Bancorp by 29.8% during the third quarter. BNP Paribas Financial Markets now owns 22,781 shares of the bank's stock valued at $1,421,000 after buying an additional 5,225 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Ameris Bancorp by 2.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 148,381 shares of the bank's stock valued at $9,257,000 after buying an additional 3,280 shares during the last quarter. Captrust Financial Advisors purchased a new position in shares of Ameris Bancorp in the third quarter worth about $237,000. Finally, Verition Fund Management LLC increased its holdings in shares of Ameris Bancorp by 53.4% in the third quarter. Verition Fund Management LLC now owns 8,880 shares of the bank's stock worth $554,000 after buying an additional 3,092 shares during the period. 91.64% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

ABCB has been the topic of several recent research reports. Piper Sandler Companies raised their price target on Ameris Bancorp to $74.00 and gave the stock a "buy" rating in a research report on Monday. Raymond James restated an "outperform" rating and issued a $71.00 target price (up previously from $67.00) on shares of Ameris Bancorp in a report on Monday, February 3rd. Piper Sandler started coverage on shares of Ameris Bancorp in a report on Friday, April 4th. They set an "overweight" rating and a $74.00 price target for the company. Finally, Stephens reissued an "equal weight" rating and issued a $71.00 price target on shares of Ameris Bancorp in a report on Friday, January 31st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $73.43.

Ameris Bancorp Trading Up 8.3 %

Ameris Bancorp stock traded up $4.21 during mid-day trading on Wednesday, reaching $54.90. 878,450 shares of the company traded hands, compared to its average volume of 379,527. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. Ameris Bancorp has a 52-week low of $44.23 and a 52-week high of $74.56. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of 10.54 and a beta of 0.87. The firm's 50 day moving average price is $60.41 and its 200 day moving average price is $63.31.

Ameris Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Monday, March 31st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Monday, March 31st. Ameris Bancorp's payout ratio is currently 15.36%.

Insiders Place Their Bets

In other news, insider Douglas D. Strange acquired 1,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $56.95 per share, for a total transaction of $56,950.00. Following the completion of the acquisition, the insider now owns 19,403 shares in the company, valued at $1,105,000.85. This trade represents a 5.43 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.50% of the stock is currently owned by company insiders.

Ameris Bancorp Company 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.