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

Atria Investments Inc cut its stake in shares of Ameris Bancorp (NASDAQ:ABCB) by 11.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,826 shares of the bank’s stock after selling 1,182 shares during the quarter. Atria Investments Inc’s holdings in Ameris Bancorp were worth $551,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 1620 Investment Advisors Inc. bought a new position in shares of Ameris Bancorp during the second quarter valued at $33,000. Blue Trust Inc. increased its stake in shares of Ameris Bancorp by 249.5% in the third quarter. Blue Trust Inc. now owns 713 shares of the bank’s stock valued at $44,000 after buying an additional 509 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Ameris Bancorp by 66.1% in the second quarter. GAMMA Investing LLC now owns 819 shares of the bank’s stock valued at $41,000 after buying an additional 326 shares in the last quarter. CWM LLC increased its stake in shares of Ameris Bancorp by 33.5% in the second quarter. CWM LLC now owns 1,310 shares of the bank’s stock valued at $66,000 after buying an additional 329 shares in the last quarter. Finally, US Bancorp DE increased its stake in shares of Ameris Bancorp by 3,396.4% in the third quarter. US Bancorp DE now owns 1,923 shares of the bank’s stock valued at $120,000 after buying an additional 1,868 shares in the last quarter. 91.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Truist Financial lowered their target price on Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Raymond James upgraded Ameris Bancorp from a “market perform” rating to an “outperform” rating and set a $67.00 price objective for the company in a research report on Monday, October 28th. DA Davidson lifted their price objective on Ameris Bancorp from $61.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Stephens lifted their price objective on Ameris Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Finally, StockNews.com upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.67.

Ameris Bancorp Price Performance

Shares of ABCB opened at $68.71 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Ameris Bancorp has a 1 year low of $40.71 and a 1 year high of $72.68. The stock has a market cap of $4.75 billion, a P/E ratio of 14.31 and a beta of 1.01. The stock’s 50-day moving average price is $63.78 and its two-hundred day moving average price is $57.19.

Ameris Bancorp (NASDAQ:ABCB) last issued its earnings results on Thursday, October 24th. The bank reported $1.38 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $290.60 million. During the same quarter last year, the business earned $1.16 earnings per share. On average, equities analysts predict that Ameris Bancorp will post 4.83 earnings per share for the current year.

Ameris Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Monday, September 30th. Ameris Bancorp’s dividend payout ratio (DPR) is presently 12.50%.

Insider Activity

In other news, Director Robert Dale Ezzell sold 8,000 shares of Ameris Bancorp stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $69.91, for a total transaction of $559,280.00. Following the transaction, the director now owns 27,444 shares in the company, valued at $1,918,610.04. The trade was a 22.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.50% of the stock is currently owned by company insiders.

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.