Mutual of America Capital Management LLC Lowers Position in Ameris Bancorp (NASDAQ:ABCB)

Mutual of America Capital Management LLC trimmed its position in shares of Ameris Bancorp (NASDAQ:ABCB) by 8.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,729 shares of the bank’s stock after selling 909 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Ameris Bancorp were worth $607,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ABCB. 1620 Investment Advisors Inc. purchased a new position in Ameris Bancorp in the second quarter valued at $33,000. Blue Trust Inc. increased its stake in shares of Ameris Bancorp by 249.5% in the 3rd quarter. Blue Trust Inc. now owns 713 shares of the bank’s stock valued at $44,000 after purchasing an additional 509 shares in the last quarter. GAMMA Investing LLC raised its holdings in Ameris Bancorp by 66.1% in 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 period. CWM LLC boosted its position in Ameris Bancorp by 33.5% during the second quarter. CWM LLC now owns 1,310 shares of the bank’s stock worth $66,000 after purchasing an additional 329 shares in the last quarter. Finally, US Bancorp DE grew its holdings in 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 purchasing an additional 1,868 shares during the period. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Robert Dale Ezzell sold 8,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were 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 owns 27,444 shares in the company, valued at approximately $1,918,610.04. This represents a 22.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ABCB. Stephens increased their target price on Ameris Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. Raymond James raised shares of Ameris Bancorp from a “market perform” rating to an “outperform” rating and set a $67.00 price objective on the stock in a report on Monday, October 28th. Truist Financial cut their target price on shares of Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Finally, StockNews.com raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $66.67.

Ameris Bancorp Stock Performance

Shares of Ameris Bancorp stock opened at $71.37 on Wednesday. The business has a 50-day simple moving average of $64.59 and a 200-day simple moving average of $57.77. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.03. Ameris Bancorp has a one year low of $41.00 and a one year high of $74.56. The company has a market cap of $4.93 billion, a PE ratio of 14.85 and a beta of 1.01.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $1.38 earnings per share 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 company had revenue of $424.86 million for the quarter, compared to analysts’ expectations of $290.60 million. During the same period last year, the firm earned $1.16 earnings per share. On average, equities research analysts forecast that Ameris Bancorp will post 4.83 EPS for the current fiscal year.

Ameris Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.60 dividend on an annualized basis and a yield of 0.84%. Ameris Bancorp’s dividend payout ratio (DPR) is presently 12.50%.

Ameris Bancorp 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.