Curi RMB Capital LLC Has $2.52 Million Stock Position in Ameris Bancorp (NASDAQ:ABCB)

Curi RMB Capital LLC decreased its position in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 32.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,365 shares of the bank's stock after selling 19,500 shares during the quarter. Curi RMB Capital LLC owned 0.06% of Ameris Bancorp worth $2,518,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABCB. Jupiter Asset Management Ltd. purchased a new stake in Ameris Bancorp in the first quarter valued at approximately $3,869,000. Seven Eight Capital LP boosted its position in Ameris Bancorp by 218.6% during the 1st quarter. Seven Eight Capital LP now owns 22,363 shares of the bank's stock worth $1,082,000 after purchasing an additional 15,343 shares during the period. Entropy Technologies LP acquired a new stake in Ameris Bancorp in the 1st quarter valued at $460,000. Victory Capital Management Inc. boosted its holdings in Ameris Bancorp by 1.6% in the 2nd quarter. Victory Capital Management Inc. now owns 851,240 shares of the bank's stock worth $42,860,000 after acquiring an additional 13,418 shares during the period. Finally, Choreo LLC purchased a new stake in shares of Ameris Bancorp during the second quarter valued at approximately $1,059,000. 91.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ameris Bancorp

In other Ameris Bancorp news, Director Robert Dale Ezzell sold 8,000 shares of Ameris Bancorp stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $69.91, for a total value of $559,280.00. Following the completion of the sale, the director now directly owns 27,444 shares in the company, valued at $1,918,610.04. The trade was a 22.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.50% of the stock is owned by insiders.

Ameris Bancorp Price Performance

ABCB traded up $0.01 during trading on Friday, reaching $69.63. The stock had a trading volume of 400,422 shares, compared to its average volume of 365,429. The stock has a 50 day moving average of $63.41 and a two-hundred day moving average of $56.79. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of 14.51 and a beta of 1.01. Ameris Bancorp has a 1-year low of $40.71 and a 1-year high of $72.68.

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

Ameris Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.86%. Ameris Bancorp's dividend payout ratio is 12.50%.

Analyst Upgrades and Downgrades

ABCB has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Ameris Bancorp from $60.00 to $65.00 and gave the stock an "outperform" rating in a research report on Monday, July 29th. Truist Financial cut their price objective on Ameris Bancorp from $73.00 to $68.00 and set a "buy" rating on the stock in a research note on Monday, October 28th. Stephens upped their price target on Ameris Bancorp from $64.00 to $67.00 and gave the company an "equal weight" rating in a research report on Monday, October 28th. StockNews.com raised shares of Ameris Bancorp from a "sell" rating to a "hold" rating in a report on Thursday, October 31st. Finally, Raymond James upgraded shares of Ameris Bancorp from a "market perform" rating to an "outperform" rating and set a $67.00 price objective on the stock in a research note on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $66.67.

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.