Thrivent Financial for Lutherans Boosts Holdings in Ameris Bancorp (NASDAQ:ABCB)

Thrivent Financial for Lutherans grew its holdings in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 28.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 80,654 shares of the bank's stock after buying an additional 18,088 shares during the quarter. Thrivent Financial for Lutherans owned 0.12% of Ameris Bancorp worth $5,047,000 at the end of the most recent reporting period.

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

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Ameris Bancorp Stock Down 2.1 %

ABCB traded down $1.22 during trading on Friday, hitting $57.13. The stock had a trading volume of 270,241 shares, compared to its average volume of 372,857. The stock has a 50 day simple moving average of $62.83 and a two-hundred day simple moving average of $63.89. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. Ameris Bancorp has a twelve month low of $44.23 and a twelve month high of $74.56. The company has a market capitalization of $3.95 billion, a PE ratio of 10.97 and a beta of 1.02.

Ameris Bancorp Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Raymond James reissued an "outperform" rating and set a $71.00 target price (up previously from $67.00) on shares of Ameris Bancorp in a research report on Monday, February 3rd. 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 report on Wednesday, December 4th. Finally, Stephens reissued an "equal weight" rating and issued a $71.00 price objective on shares of Ameris Bancorp in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Ameris Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $70.50.

Insider Activity at Ameris Bancorp

In related news, insider Douglas D. Strange bought 1,000 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were bought at an average price of $56.95 per share, with a total value of $56,950.00. Following the transaction, the insider now owns 19,403 shares in the company, valued at approximately $1,105,000.85. This trade represents a 5.43 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.50% of the stock is currently owned by corporate insiders.

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.