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

Thrivent Financial for Lutherans raised its position in shares of Ameris Bancorp (NASDAQ:ABCB) by 28.9% in the 4th 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 about 0.12% of Ameris Bancorp worth $5,047,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. William Blair Investment Management LLC boosted its stake in Ameris Bancorp by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 789,271 shares of the bank’s stock valued at $49,385,000 after acquiring an additional 19,150 shares in the last quarter. Cibc World Markets Corp purchased a new position in Ameris Bancorp during the 4th quarter worth $385,000. Envestnet Portfolio Solutions Inc. increased its position in Ameris Bancorp by 4.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 5,174 shares of the bank’s stock valued at $324,000 after buying an additional 238 shares in the last quarter. Picton Mahoney Asset Management raised its stake in Ameris Bancorp by 2,436.8% in the fourth quarter. Picton Mahoney Asset Management now owns 482 shares of the bank’s stock valued at $30,000 after buying an additional 463 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in Ameris Bancorp by 12.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 6,948 shares of the bank’s stock worth $435,000 after acquiring an additional 771 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors.

Insider Activity at Ameris Bancorp

In other news, insider Douglas D. Strange acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average price of $56.95 per share, with a total value of $56,950.00. Following 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 purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ABCB has been the subject of several research analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of Ameris Bancorp from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Stephens reaffirmed an “equal weight” rating and issued a $71.00 price target on shares of Ameris Bancorp in a report on Friday, January 31st. Finally, Raymond James reissued an “outperform” rating and set a $71.00 price objective (up from $67.00) on shares of Ameris Bancorp in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $70.50.

Ameris Bancorp Trading Up 2.8 %

Shares of Ameris Bancorp stock opened at $59.41 on Tuesday. The stock has a market cap of $4.10 billion, a PE ratio of 11.40 and a beta of 1.02. The firm has a fifty day moving average price of $63.10 and a 200 day moving average price of $63.97. Ameris Bancorp has a 1 year low of $44.23 and a 1 year high of $74.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00.

Ameris Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Monday, March 31st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Monday, March 31st. Ameris Bancorp’s dividend payout ratio (DPR) is 15.36%.

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.