Ameris Bancorp (NASDAQ:ABCB) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. trimmed its holdings in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 46.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,315 shares of the bank's stock after selling 5,492 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in Ameris Bancorp were worth $395,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ABCB. Picton Mahoney Asset Management increased its position in Ameris Bancorp by 2,436.8% in the fourth quarter. Picton Mahoney Asset Management now owns 482 shares of the bank's stock worth $30,000 after purchasing an additional 463 shares during the last quarter. R Squared Ltd purchased a new stake in Ameris Bancorp during the fourth quarter valued at approximately $51,000. Blue Trust Inc. lifted its stake in shares of Ameris Bancorp by 56.1% in the 4th quarter. Blue Trust Inc. now owns 1,113 shares of the bank's stock valued at $69,000 after purchasing an additional 400 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Ameris Bancorp by 17.9% in the 4th quarter. GAMMA Investing LLC now owns 1,332 shares of the bank's stock worth $83,000 after purchasing an additional 202 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in Ameris Bancorp by 167.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the bank's stock worth $90,000 after buying an additional 896 shares during the period. Institutional investors own 91.64% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ABCB. 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. Stephens restated an "equal weight" rating and issued a $71.00 price target on shares of Ameris Bancorp in a report on Friday, January 31st. Finally, Keefe, Bruyette & Woods lifted their price objective on Ameris Bancorp from $70.00 to $80.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.50.

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Insiders Place Their Bets

In other Ameris Bancorp news, insider Douglas D. Strange purchased 1,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average price of $56.95 per share, for a total transaction of $56,950.00. Following the acquisition, the insider now owns 19,403 shares in the company, valued at $1,105,000.85. This represents a 5.43 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.50% of the stock is currently owned by insiders.

Ameris Bancorp Stock Up 1.6 %

Shares of Ameris Bancorp stock traded up $0.89 during trading on Wednesday, reaching $57.89. The company's stock had a trading volume of 415,372 shares, compared to its average volume of 374,113. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 11.11 and a beta of 1.02. The company has a 50-day simple moving average of $62.35 and a two-hundred day simple moving average of $63.90. Ameris Bancorp has a 1-year low of $44.23 and a 1-year high of $74.56.

Ameris Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Monday, March 31st will be issued a $0.20 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.38%. Ameris Bancorp's dividend payout ratio is currently 15.36%.

Ameris Bancorp 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.