Algert Global LLC Sells 520 Shares of Ameris Bancorp (NASDAQ:ABCB)

Algert Global LLC cut its position in Ameris Bancorp (NASDAQ:ABCB) by 0.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 196,444 shares of the bank’s stock after selling 520 shares during the period. Algert Global LLC’s holdings in Ameris Bancorp were worth $11,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new stake in Ameris Bancorp in the 4th quarter valued at $37,000. Versant Capital Management Inc boosted its stake in Ameris Bancorp by 84.1% in the 1st quarter. Versant Capital Management Inc now owns 731 shares of the bank’s stock valued at $42,000 after purchasing an additional 334 shares during the period. Optimum Investment Advisors bought a new stake in Ameris Bancorp in the 1st quarter valued at $128,000. Sterling Capital Management LLC boosted its stake in Ameris Bancorp by 836.7% in the 4th quarter. Sterling Capital Management LLC now owns 2,117 shares of the bank’s stock valued at $132,000 after purchasing an additional 1,891 shares during the period. Finally, Meeder Asset Management Inc. raised its holdings in Ameris Bancorp by 1,120.2% in the 1st quarter. Meeder Asset Management Inc. now owns 2,904 shares of the bank’s stock valued at $167,000 after acquiring an additional 2,666 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors.

Ameris Bancorp Price Performance

Shares of ABCB stock opened at $70.02 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. Ameris Bancorp has a twelve month low of $48.27 and a twelve month high of $74.56. The company has a market cap of $4.80 billion, a P/E ratio of 13.44 and a beta of 0.96. The business has a fifty day simple moving average of $65.86 and a 200 day simple moving average of $61.95.

Ameris Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 7th. Investors of record on Monday, June 30th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Monday, June 30th. Ameris Bancorp’s dividend payout ratio is currently 14.08%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. DA Davidson set a $81.00 target price on Ameris Bancorp and gave the company a “buy” rating in a research report on Wednesday, July 30th. Stephens reiterated an “equal weight” rating and set a $63.00 target price on shares of Ameris Bancorp in a research report on Tuesday, April 29th. Finally, Raymond James Financial cut their target price on Ameris Bancorp from $71.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Ameris Bancorp has an average rating of “Moderate Buy” and an average target price of $72.14.

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.