Ameris Bancorp (NASDAQ:ABCB) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC decreased its stake in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,061,890 shares of the bank's stock after selling 35,472 shares during the quarter. Nuveen Asset Management LLC owned approximately 1.54% of Ameris Bancorp worth $66,442,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management lifted its holdings in Ameris Bancorp by 2,436.8% during the 4th quarter. Picton Mahoney Asset Management now owns 482 shares of the bank's stock valued at $30,000 after buying an additional 463 shares in the last quarter. R Squared Ltd acquired a new position in shares of Ameris Bancorp during the 4th quarter worth approximately $51,000. Blue Trust Inc. lifted its stake in Ameris Bancorp by 56.1% in the 4th quarter. Blue Trust Inc. now owns 1,113 shares of the bank's stock worth $69,000 after purchasing an additional 400 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Ameris Bancorp by 167.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the bank's stock worth $90,000 after purchasing an additional 896 shares during the period. Finally, Venturi Wealth Management LLC acquired a new stake in shares of Ameris Bancorp during the fourth quarter worth about $105,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

Ameris Bancorp Trading Down 1.9%

NASDAQ:ABCB traded down $1.20 during trading hours on Wednesday, hitting $61.64. The company had a trading volume of 586,470 shares, compared to its average volume of 402,180. The stock has a 50-day moving average price of $57.08 and a 200 day moving average price of $62.41. The company has a market capitalization of $4.25 billion, a PE ratio of 11.83 and a beta of 0.91. Ameris Bancorp has a 52 week low of $45.89 and a 52 week high of $74.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The bank reported $1.28 EPS for the quarter, topping the consensus estimate of $1.12 by $0.16. The company had revenue of $285.86 million during the quarter, compared to analyst estimates of $276.06 million. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%. The firm's revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business posted $1.10 earnings per share. On average, equities research analysts predict that Ameris Bancorp will post 4.99 EPS for the current fiscal year.

Ameris Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Monday, March 31st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Monday, March 31st. Ameris Bancorp's dividend payout ratio is currently 14.81%.

Wall Street Analyst Weigh In

ABCB has been the topic of several analyst reports. Piper Sandler Companies lifted their target price on Ameris Bancorp to $74.00 and gave the company a "buy" rating in a research note on Monday, April 7th. Piper Sandler initiated coverage on shares of Ameris Bancorp in a research note on Friday, April 4th. They issued an "overweight" rating and a $74.00 target price on the stock. Stephens restated an "equal weight" rating and set a $63.00 price objective on shares of Ameris Bancorp in a research report on Tuesday, April 29th. Finally, Raymond James decreased 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 equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $71.43.

Insider Activity

In other Ameris Bancorp news, insider Douglas D. Strange bought 1,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average price of $56.95 per share, for a total transaction of $56,950.00. Following the completion of the purchase, the insider now owns 19,403 shares of the company's stock, valued at approximately $1,105,000.85. This represents a 5.43% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.40% of the company's stock.

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.