HighTower Advisors LLC Makes New $552,000 Investment in Ameris Bancorp (NASDAQ:ABCB)

HighTower Advisors LLC acquired a new stake in shares of Ameris Bancorp (NASDAQ:ABCB) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,815 shares of the bank’s stock, valued at approximately $552,000.

Other institutional investors also recently modified their holdings of the company. Oppenheimer Asset Management Inc. lifted its position in Ameris Bancorp by 4.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 3,880 shares of the bank’s stock valued at $243,000 after acquiring an additional 167 shares in the last quarter. GAMMA Investing LLC lifted 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 purchasing an additional 202 shares in the last quarter. Savant Capital LLC boosted its position in shares of Ameris Bancorp by 3.8% during the fourth quarter. Savant Capital LLC now owns 7,371 shares of the bank’s stock valued at $461,000 after buying an additional 267 shares during the last quarter. Atria Investments Inc grew its holdings in Ameris Bancorp by 3.4% during the fourth quarter. Atria Investments Inc now owns 9,124 shares of the bank’s stock worth $571,000 after buying an additional 298 shares in the last quarter. Finally, Blue Trust Inc. raised its position in Ameris Bancorp by 56.1% in the 4th 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 last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ameris Bancorp

In other Ameris Bancorp news, insider Douglas D. Strange acquired 1,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were acquired at an average cost of $56.95 per share, with a total value of $56,950.00. Following the completion of the acquisition, the insider now directly owns 19,403 shares in the company, 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 Securities & Exchange Commission, which is accessible through this hyperlink. 5.50% of the stock is owned by corporate insiders.

Ameris Bancorp Stock Performance

Shares of ABCB stock opened at $57.13 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of 10.97 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 firm’s 50-day simple moving average is $62.67 and its two-hundred day simple moving average is $63.91.

Ameris Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Monday, March 31st will be issued a $0.20 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.40%. Ameris Bancorp’s dividend payout ratio (DPR) is presently 15.36%.

Analysts Set New Price Targets

ABCB has been the topic of a number of analyst reports. Raymond James reaffirmed 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. Stephens reaffirmed an “equal weight” rating and issued a $71.00 price objective on shares of Ameris Bancorp in a research report on Friday, January 31st. Finally, 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 note on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.50.

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.