Ameris Bancorp (NASDAQ:ABCB) Shares Sold by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC lowered its holdings in Ameris Bancorp (NASDAQ:ABCB) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,769 shares of the bank’s stock after selling 396 shares during the quarter. Linden Thomas Advisory Services LLC owned 0.05% of Ameris Bancorp worth $1,844,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. increased its stake in shares of Ameris Bancorp by 11.1% in the third quarter. Assetmark Inc. now owns 4,565 shares of the bank’s stock worth $175,000 after acquiring an additional 456 shares during the period. KLR Investment Advisors LLC acquired a new stake in Ameris Bancorp during the third quarter valued at $209,000. Xponance Inc. acquired a new stake in Ameris Bancorp during the fourth quarter valued at $211,000. Mackenzie Financial Corp acquired a new stake in Ameris Bancorp during the fourth quarter valued at $218,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in Ameris Bancorp during the fourth quarter valued at $219,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

Insiders Place Their Bets

In other Ameris Bancorp news, insider Jon S. Edwards sold 7,500 shares of Ameris Bancorp stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $47.35, for a total transaction of $355,125.00. Following the transaction, the insider now directly owns 59,691 shares of the company’s stock, valued at $2,826,368.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. StockNews.com lowered shares of Ameris Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. Truist Financial decreased their price objective on shares of Ameris Bancorp from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, April 1st. Stephens reaffirmed an “equal weight” rating and set a $53.00 price objective on shares of Ameris Bancorp in a report on Tuesday, January 30th. Finally, DA Davidson reaffirmed a “buy” rating on shares of Ameris Bancorp in a report on Monday, January 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $50.25.

Ameris Bancorp Price Performance

Shares of NASDAQ:ABCB traded up $1.15 during midday trading on Tuesday, hitting $47.92. The company’s stock had a trading volume of 97,118 shares, compared to its average volume of 380,579. The business’s 50 day simple moving average is $46.52 and its 200 day simple moving average is $46.01. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.02 and a current ratio of 1.03. The company has a market cap of $3.31 billion, a P/E ratio of 11.99 and a beta of 1.05. Ameris Bancorp has a 12-month low of $28.33 and a 12-month high of $53.99.

Ameris Bancorp (NASDAQ:ABCB) last issued its earnings results on Thursday, January 25th. The bank reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.05). Ameris Bancorp had a return on equity of 8.30% and a net margin of 17.67%. The firm had revenue of $262.35 million for the quarter, compared to analysts’ expectations of $267.23 million. On average, analysts forecast that Ameris Bancorp will post 4.47 EPS for the current year.

Ameris Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 8th. Shareholders of record on Sunday, March 31st were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Wednesday, March 27th. Ameris Bancorp’s dividend payout ratio (DPR) is presently 15.38%.

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.