Envestnet Portfolio Solutions Inc. Purchases 238 Shares of Ameris Bancorp (NASDAQ:ABCB)

Envestnet Portfolio Solutions Inc. increased its holdings in Ameris Bancorp (NASDAQ:ABCB) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,174 shares of the bank’s stock after acquiring an additional 238 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Ameris Bancorp were worth $324,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Picton Mahoney Asset Management boosted its stake in shares of Ameris Bancorp by 2,436.8% during the fourth quarter. Picton Mahoney Asset Management now owns 482 shares of the bank’s stock valued at $30,000 after purchasing an additional 463 shares in the last quarter. R Squared Ltd purchased a new stake in Ameris Bancorp during the fourth quarter worth $51,000. Blue Trust Inc. boosted its position in Ameris Bancorp by 56.1% during the 4th quarter. Blue Trust Inc. now owns 1,113 shares of the bank’s stock valued at $69,000 after acquiring an additional 400 shares in the last quarter. GAMMA Investing LLC increased 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 valued at $83,000 after acquiring an additional 202 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in shares of Ameris Bancorp by 167.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the bank’s stock worth $90,000 after acquiring an additional 896 shares in the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Insider Activity

In other news, insider Douglas D. Strange purchased 1,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was 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 $1,105,000.85. The trade was a 5.43 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.50% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Ameris Bancorp Stock Down 0.9 %

ABCB stock opened at $58.40 on Friday. The stock has a market capitalization of $4.03 billion, a PE ratio of 11.21 and a beta of 1.02. Ameris Bancorp has a 52 week low of $44.23 and a 52 week high of $74.56. 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 firm has a 50 day moving average of $62.83 and a 200 day moving average of $63.89.

Ameris Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders 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 dividend yield of 1.37%. Ameris Bancorp’s 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.