Algert Global LLC Acquires 56,320 Shares of Ameris Bancorp (NASDAQ:ABCB)

Algert Global LLC lifted its stake in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 208.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 83,393 shares of the bank's stock after buying an additional 56,320 shares during the quarter. Algert Global LLC owned about 0.12% of Ameris Bancorp worth $5,203,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Ameris Bancorp by 1.2% during the first quarter. Vanguard Group Inc. now owns 7,560,371 shares of the bank's stock worth $365,771,000 after buying an additional 92,491 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Ameris Bancorp by 9.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 907,140 shares of the bank's stock worth $56,596,000 after purchasing an additional 79,060 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Ameris Bancorp by 4.6% in the third quarter. Principal Financial Group Inc. now owns 1,263,487 shares of the bank's stock worth $78,829,000 after purchasing an additional 55,473 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Ameris Bancorp in the second quarter valued at approximately $2,462,000. Finally, First Eagle Investment Management LLC boosted its position in shares of Ameris Bancorp by 18.6% during the second quarter. First Eagle Investment Management LLC now owns 290,033 shares of the bank's stock valued at $14,603,000 after buying an additional 45,450 shares during the last quarter. Institutional investors own 91.64% of the company's stock.

Ameris Bancorp Stock Performance

ABCB traded up $0.58 during midday trading on Monday, reaching $72.37. The company had a trading volume of 369,100 shares, compared to its average volume of 365,212. Ameris Bancorp has a 12-month low of $41.00 and a 12-month high of $74.56. The business has a 50-day moving average price of $64.59 and a two-hundred day moving average price of $57.77. The stock has a market cap of $5.00 billion, a PE ratio of 15.08 and a beta of 1.01. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.03.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last released its earnings results on Thursday, October 24th. The bank reported $1.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.13. Ameris Bancorp had a return on equity of 9.18% and a net margin of 20.08%. The business had revenue of $424.86 million during the quarter, compared to the consensus estimate of $290.60 million. During the same period last year, the business posted $1.16 earnings per share. On average, sell-side analysts expect that Ameris Bancorp will post 4.83 earnings per share for the current fiscal year.

Ameris Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date was Monday, September 30th. Ameris Bancorp's dividend payout ratio is currently 12.50%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. DA Davidson increased their price target on Ameris Bancorp from $61.00 to $76.00 and gave the company a "buy" rating in a research report on Monday, July 29th. StockNews.com raised shares of Ameris Bancorp from a "sell" rating to a "hold" rating in a research report on Thursday, October 31st. Stephens upped their price objective on shares of Ameris Bancorp from $64.00 to $67.00 and gave the stock an "equal weight" rating in a research report on Monday, October 28th. Keefe, Bruyette & Woods increased their price objective on shares of Ameris Bancorp from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Monday, July 29th. Finally, Raymond James upgraded Ameris Bancorp from a "market perform" rating to an "outperform" rating and set a $67.00 target price on the stock in a research note on Monday, October 28th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Ameris Bancorp presently has an average rating of "Moderate Buy" and a consensus target price of $66.67.

Insider Buying and Selling at Ameris Bancorp

In related news, Director Robert Dale Ezzell sold 8,000 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $69.91, for a total transaction of $559,280.00. Following the sale, the director now directly owns 27,444 shares in the company, valued at approximately $1,918,610.04. The trade was a 22.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.50% of the company's stock.

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.