Linden Thomas Advisory Services LLC Cuts Stake in Ameris Bancorp (NASDAQ:ABCB)

Linden Thomas Advisory Services LLC lessened its holdings in shares of Ameris Bancorp (NASDAQ:ABCB) by 1.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,769 shares of the bank’s stock after selling 396 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Ameris Bancorp were worth $1,844,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABCB. Prospector Partners LLC acquired a new stake in Ameris Bancorp during the 3rd quarter worth approximately $5,924,000. American Century Companies Inc. increased its position in Ameris Bancorp by 3.7% during the 3rd quarter. American Century Companies Inc. now owns 2,547,134 shares of the bank’s stock worth $97,784,000 after purchasing an additional 90,694 shares in the last quarter. First Eagle Investment Management LLC increased its position in Ameris Bancorp by 81.7% during the 3rd quarter. First Eagle Investment Management LLC now owns 178,961 shares of the bank’s stock worth $6,870,000 after purchasing an additional 80,466 shares in the last quarter. Graham Capital Management L.P. purchased a new stake in shares of Ameris Bancorp during the third quarter valued at approximately $2,049,000. Finally, Congress Asset Management Co. MA raised its stake in shares of Ameris Bancorp by 7.1% during the third quarter. Congress Asset Management Co. MA now owns 704,319 shares of the bank’s stock valued at $27,039,000 after purchasing an additional 46,874 shares during the period. Institutional investors and hedge funds own 91.64% of the company’s stock.

Analyst Ratings Changes

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

Ameris Bancorp Price Performance

Ameris Bancorp stock 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 company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.19. The stock’s 50-day moving average price is $46.52 and its 200-day moving average price is $46.01. Ameris Bancorp has a 12 month low of $28.33 and a 12 month high of $53.99. The company has a market capitalization of $3.31 billion, a PE ratio of 11.99 and a beta of 1.05.

Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings results on Thursday, January 25th. The bank reported $1.07 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.05). Ameris Bancorp had a return on equity of 8.30% and a net margin of 17.67%. The business had revenue of $262.35 million during the quarter, compared to the consensus estimate of $267.23 million. Analysts anticipate that Ameris Bancorp will post 4.47 earnings per share for the current fiscal year.

Ameris Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 8th. Investors of record on Sunday, March 31st were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.60 annualized dividend and a dividend yield of 1.25%. Ameris Bancorp’s payout ratio is 15.38%.

Insider Activity at Ameris Bancorp

In related news, insider Jon S. Edwards sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $47.35, for a total value of $355,125.00. Following the completion of the sale, the insider now owns 59,691 shares of the company’s stock, valued at approximately $2,826,368.85. The sale was disclosed in a document filed with the SEC, which is available at this link. 5.60% of the stock is currently owned by company insiders.

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.