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AAPL   154.65 (+1.92%)
MSFT   267.56 (+4.20%)
META   191.62 (+2.99%)
GOOGL   107.64 (+4.61%)
AMZN   102.00 (-0.18%)
TSLA   196.81 (+1.05%)
NVDA   221.73 (+5.14%)
NIO   10.92 (-0.09%)
BABA   105.50 (+0.05%)
AMD   85.91 (+2.66%)
T   19.25 (-1.69%)
F   13.45 (+2.36%)
MU   62.13 (+3.58%)
CGC   2.82 (-4.41%)
GE   82.11 (-0.29%)
DIS   111.63 (+1.60%)
AMC   6.18 (-9.12%)
PFE   43.59 (-0.39%)
PYPL   83.23 (+1.09%)
NFLX   362.95 (+0.41%)
QQQ   310.97 (+2.43%)
AAPL   154.65 (+1.92%)
MSFT   267.56 (+4.20%)
META   191.62 (+2.99%)
GOOGL   107.64 (+4.61%)
AMZN   102.00 (-0.18%)
TSLA   196.81 (+1.05%)
NVDA   221.73 (+5.14%)
NIO   10.92 (-0.09%)
BABA   105.50 (+0.05%)
AMD   85.91 (+2.66%)
T   19.25 (-1.69%)
F   13.45 (+2.36%)
MU   62.13 (+3.58%)
CGC   2.82 (-4.41%)
GE   82.11 (-0.29%)
DIS   111.63 (+1.60%)
AMC   6.18 (-9.12%)
PFE   43.59 (-0.39%)
PYPL   83.23 (+1.09%)
NFLX   362.95 (+0.41%)
QQQ   310.97 (+2.43%)
AAPL   154.65 (+1.92%)
MSFT   267.56 (+4.20%)
META   191.62 (+2.99%)
GOOGL   107.64 (+4.61%)
AMZN   102.00 (-0.18%)
TSLA   196.81 (+1.05%)
NVDA   221.73 (+5.14%)
NIO   10.92 (-0.09%)
BABA   105.50 (+0.05%)
AMD   85.91 (+2.66%)
T   19.25 (-1.69%)
F   13.45 (+2.36%)
MU   62.13 (+3.58%)
CGC   2.82 (-4.41%)
GE   82.11 (-0.29%)
DIS   111.63 (+1.60%)
AMC   6.18 (-9.12%)
PFE   43.59 (-0.39%)
PYPL   83.23 (+1.09%)
NFLX   362.95 (+0.41%)

Glenmede Trust Co. NA Trims Stake in Ameris Bancorp (NASDAQ:ABCB)

Glenmede Trust Co. NA trimmed its stake in Ameris Bancorp (NASDAQ:ABCB - Get Rating) by 10.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 351,359 shares of the bank's stock after selling 42,495 shares during the period. Glenmede Trust Co. NA owned 0.51% of Ameris Bancorp worth $15,708,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ABCB. Millennium Management LLC increased its stake in Ameris Bancorp by 771.2% in the 2nd quarter. Millennium Management LLC now owns 757,238 shares of the bank's stock worth $30,426,000 after buying an additional 670,323 shares in the last quarter. State Street Corp increased its stake in Ameris Bancorp by 14.3% in the 1st quarter. State Street Corp now owns 3,897,720 shares of the bank's stock worth $171,622,000 after buying an additional 488,485 shares in the last quarter. Wellington Management Group LLP increased its stake in Ameris Bancorp by 7.4% in the 1st quarter. Wellington Management Group LLP now owns 5,201,328 shares of the bank's stock worth $228,235,000 after buying an additional 358,777 shares in the last quarter. Principal Financial Group Inc. increased its stake in Ameris Bancorp by 16.4% in the 2nd quarter. Principal Financial Group Inc. now owns 2,084,654 shares of the bank's stock worth $83,761,000 after buying an additional 293,289 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Ameris Bancorp by 7.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,630,195 shares of the bank's stock valued at $162,307,000 after purchasing an additional 240,506 shares during the last quarter. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes


Several research analysts have commented on ABCB shares. StockNews.com started coverage on shares of Ameris Bancorp in a report on Wednesday, October 12th. They set a "hold" rating for the company. Raymond James downgraded shares of Ameris Bancorp from an "outperform" rating to a "market perform" rating in a report on Monday, October 31st. Piper Sandler reissued an "overweight" rating and set a $62.00 price objective on shares of Ameris Bancorp in a report on Monday, December 5th. Finally, Truist Financial increased their price target on shares of Ameris Bancorp from $55.00 to $60.00 and gave the company a "buy" rating in a report on Monday, October 31st.

Insiders Place Their Bets

In other news, Director Jimmy D. Veal sold 1,120 shares of the firm's stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $51.87, for a total transaction of $58,094.40. Following the transaction, the director now directly owns 88,425 shares of the company's stock, valued at $4,586,604.75. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider William D. Mckendry sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $51.96, for a total transaction of $155,880.00. Following the transaction, the insider now directly owns 22,274 shares of the company's stock, valued at $1,157,357.04. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jimmy D. Veal sold 1,120 shares of the firm's stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $51.87, for a total transaction of $58,094.40. Following the transaction, the director now directly owns 88,425 shares in the company, valued at $4,586,604.75. The disclosure for this sale can be found here. 5.50% of the stock is owned by insiders.

Ameris Bancorp Trading Down 1.9 %

Shares of NASDAQ:ABCB traded down $0.89 during trading on Wednesday, reaching $46.88. The company's stock had a trading volume of 57,133 shares, compared to its average volume of 242,602. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.27. Ameris Bancorp has a 12 month low of $38.22 and a 12 month high of $54.24. The firm's 50 day simple moving average is $49.15 and its two-hundred day simple moving average is $48.18. The stock has a market capitalization of $3.25 billion, a PE ratio of 9.57 and a beta of 1.16.

Ameris Bancorp (NASDAQ:ABCB - Get Rating) last announced its quarterly earnings data on Thursday, October 27th. The bank reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.02). The firm had revenue of $278.31 million during the quarter, compared to the consensus estimate of $277.57 million. Ameris Bancorp had a return on equity of 10.85% and a net margin of 31.01%. On average, research analysts predict that Ameris Bancorp will post 4.92 EPS for the current fiscal year.

Ameris Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 9th. Shareholders of record on Saturday, December 31st were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.28%. The ex-dividend date was Thursday, December 29th. Ameris Bancorp's payout ratio is currently 12.02%.

About Ameris Bancorp

(Get Rating)

Ameris Bancorp is a bank holding company, which through the subsidiary, Ameris Bank, engages in the provision of banking services to its retail and commercial customers. It operates through the following business segments: Banking, Retail Mortgage, Warehouse Lending, the SBA and Premium Finance. The Banking segment offers full service financial services to include commercial loans, consumer loans and deposit accounts.

Further Reading

Institutional Ownership by Quarter for Ameris Bancorp (NASDAQ:ABCB)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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