Congress Wealth Management LLC DE Acquires 6,168 Shares of Ameris Bancorp (NASDAQ:ABCB)

Congress Wealth Management LLC DE lifted its position in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 5.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 125,442 shares of the bank's stock after acquiring an additional 6,168 shares during the quarter. Congress Wealth Management LLC DE owned approximately 0.18% of Ameris Bancorp worth $7,849,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jennison Associates LLC acquired a new stake in Ameris Bancorp in the fourth quarter valued at $10,856,000. Charles Schwab Investment Management Inc. increased its stake in shares of Ameris Bancorp by 9.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 907,140 shares of the bank's stock valued at $56,596,000 after buying an additional 79,060 shares during the period. Barclays PLC raised its position in shares of Ameris Bancorp by 107.7% during the third quarter. Barclays PLC now owns 140,001 shares of the bank's stock worth $8,735,000 after acquiring an additional 72,599 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Ameris Bancorp by 135.5% in the third quarter. Point72 Asset Management L.P. now owns 115,194 shares of the bank's stock worth $7,187,000 after acquiring an additional 66,287 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in Ameris Bancorp by 2,768.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 68,384 shares of the bank's stock valued at $4,292,000 after purchasing an additional 66,000 shares during the period. Institutional investors own 91.64% of the company's stock.

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Insider Transactions at Ameris Bancorp

In related news, insider Douglas D. Strange purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average cost of $56.95 per share, with a total value of $56,950.00. Following the transaction, the insider now owns 19,403 shares of the company's stock, valued at $1,105,000.85. This represents a 5.43 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.50% of the company's stock.

Ameris Bancorp Stock Down 2.1 %

Shares of NASDAQ:ABCB traded down $1.22 during midday trading on Friday, hitting $57.13. 270,241 shares of the company's stock were exchanged, compared to its average volume of 372,862. 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 12 month low of $44.23 and a 12 month high of $74.56. The company has a market cap of $3.95 billion, a PE ratio of 10.97 and a beta of 1.02. The stock has a 50 day moving average price of $62.67 and a 200-day moving average price of $63.94.

Ameris Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 31st will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Monday, March 31st. Ameris Bancorp's dividend payout ratio (DPR) is presently 15.36%.

Analyst Ratings Changes

A number of research firms have recently commented on ABCB. Raymond James reaffirmed an "outperform" rating and issued a $71.00 price objective (up from $67.00) on shares of Ameris Bancorp in a research note on Monday, February 3rd. Stephens reissued an "equal weight" rating and issued a $71.00 price target on shares of Ameris Bancorp in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Ameris Bancorp from $70.00 to $80.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Ameris Bancorp currently has an average rating of "Moderate Buy" and a consensus target price of $70.50.

About Ameris Bancorp

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.