Wealthfront Advisers LLC Takes Position in Ameris Bancorp (NASDAQ:ABCB)

Wealthfront Advisers LLC acquired a new position in Ameris Bancorp (NASDAQ:ABCB - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 49,195 shares of the bank's stock, valued at approximately $3,078,000. Wealthfront Advisers LLC owned 0.07% of Ameris Bancorp as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in ABCB. Principal Financial Group Inc. raised its stake in 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 buying an additional 55,473 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Ameris Bancorp by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 917,396 shares of the bank's stock worth $57,401,000 after acquiring an additional 10,256 shares during the period. Victory Capital Management Inc. raised its position in shares of Ameris Bancorp by 1.4% in the 3rd quarter. Victory Capital Management Inc. now owns 863,294 shares of the bank's stock worth $53,861,000 after acquiring an additional 12,054 shares in the last quarter. Congress Asset Management Co. lifted its stake in shares of Ameris Bancorp by 1.5% in the 4th quarter. Congress Asset Management Co. now owns 821,554 shares of the bank's stock valued at $51,405,000 after purchasing an additional 12,216 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Ameris Bancorp by 9.1% during the third quarter. JPMorgan Chase & Co. now owns 728,253 shares of the bank's stock valued at $45,436,000 after purchasing an additional 60,448 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors.

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Insider Transactions at Ameris Bancorp

In other Ameris Bancorp news, insider Douglas D. Strange purchased 1,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average price of $56.95 per share, for a total transaction of $56,950.00. Following the completion of the purchase, the insider now directly owns 19,403 shares of the company's stock, valued at $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 SEC, which can be accessed through the SEC website. Insiders own 5.50% of the company's stock.

Analyst Ratings Changes

ABCB has been the subject of a number of research reports. Keefe, Bruyette & Woods increased their price objective on Ameris Bancorp from $70.00 to $80.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Raymond James reiterated an "outperform" rating and issued a $71.00 price target (up from $67.00) on shares of Ameris Bancorp in a research note on Monday, February 3rd. Finally, Stephens reissued an "equal weight" rating and set 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 assigned a buy rating to the company's stock. According to MarketBeat.com, Ameris Bancorp has an average rating of "Moderate Buy" and an average target price of $70.50.

Ameris Bancorp Stock Up 0.9 %

Shares of NASDAQ:ABCB traded up $0.54 on Monday, hitting $57.87. 544,960 shares of the company traded hands, compared to its average volume of 340,199. The stock has a 50 day simple moving average of $63.46 and a 200-day simple moving average of $64.10. 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 PE ratio of 11.11 and a beta of 1.02. Ameris Bancorp has a 52 week low of $44.23 and a 52 week high of $74.56.

Ameris Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Tuesday, December 31st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Tuesday, December 31st. This is an increase from Ameris Bancorp's previous quarterly dividend of $0.15. Ameris Bancorp's dividend payout ratio is currently 15.36%.

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.