Atria Investments Inc Sells 1,182 Shares of Ameris Bancorp (NASDAQ:ABCB)

Atria Investments Inc decreased its position in Ameris Bancorp (NASDAQ:ABCB) by 11.8% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 8,826 shares of the bank’s stock after selling 1,182 shares during the period. Atria Investments Inc’s holdings in Ameris Bancorp were worth $551,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of ABCB. 1620 Investment Advisors Inc. bought a new stake in Ameris Bancorp in the 2nd quarter valued at approximately $33,000. GAMMA Investing LLC increased its position in shares of Ameris Bancorp by 66.1% during the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the bank’s stock worth $41,000 after purchasing an additional 326 shares during the last quarter. Blue Trust Inc. increased its position in shares of Ameris Bancorp by 249.5% during the 3rd quarter. Blue Trust Inc. now owns 713 shares of the bank’s stock worth $44,000 after purchasing an additional 509 shares during the last quarter. CWM LLC increased its position in shares of Ameris Bancorp by 33.5% during the 2nd quarter. CWM LLC now owns 1,310 shares of the bank’s stock worth $66,000 after purchasing an additional 329 shares during the last quarter. Finally, US Bancorp DE increased its position in shares of Ameris Bancorp by 3,396.4% during the 3rd quarter. US Bancorp DE now owns 1,923 shares of the bank’s stock worth $120,000 after purchasing an additional 1,868 shares during the last quarter. Institutional investors own 91.64% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on ABCB shares. StockNews.com raised Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. DA Davidson boosted their price target on Ameris Bancorp from $61.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods boosted their target price on Ameris Bancorp from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Stephens boosted their target price on Ameris Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating in a report on Monday, October 28th. Finally, Truist Financial decreased their target price on Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $66.67.

Ameris Bancorp Stock Performance

Shares of NASDAQ ABCB opened at $68.71 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.03 and a quick ratio of 1.01. The stock’s fifty day moving average price is $63.78 and its two-hundred day moving average price is $57.19. Ameris Bancorp has a one year low of $40.71 and a one year high of $72.68. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 14.31 and a beta of 1.01.

Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.13. Ameris Bancorp had a return on equity of 9.18% and a net margin of 20.08%. The firm had revenue of $424.86 million for the quarter, compared to analyst estimates of $290.60 million. During the same period in the prior year, the firm posted $1.16 EPS. On average, equities analysts forecast that Ameris Bancorp will post 4.83 EPS for the current year.

Ameris Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.87%. Ameris Bancorp’s payout ratio is 12.50%.

Insider Activity

In other news, Director Robert Dale Ezzell sold 8,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $69.91, for a total transaction of $559,280.00. Following the completion of the sale, the director now directly owns 27,444 shares in the company, valued at approximately $1,918,610.04. This represents a 22.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.50% of the company’s stock.

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.