Coldstream Capital Management Inc. Purchases Shares of 3,390 Ameris Bancorp (NASDAQ:ABCB)

Coldstream Capital Management Inc. purchased a new position in Ameris Bancorp (NASDAQ:ABCB) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,390 shares of the bank’s stock, valued at approximately $213,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ABCB. Charles Schwab Investment Management Inc. increased its stake in Ameris Bancorp by 9.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 907,140 shares of the bank’s stock worth $56,596,000 after acquiring an additional 79,060 shares during the last quarter. Barclays PLC grew its holdings in shares of Ameris Bancorp by 107.7% during the third quarter. Barclays PLC now owns 140,001 shares of the bank’s stock worth $8,735,000 after purchasing an additional 72,599 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Ameris Bancorp by 135.5% during the third quarter. Point72 Asset Management L.P. now owns 115,194 shares of the bank’s stock worth $7,187,000 after purchasing an additional 66,287 shares in the last quarter. Algert Global LLC increased its position in shares of Ameris Bancorp by 208.0% in the third quarter. Algert Global LLC now owns 83,393 shares of the bank’s stock worth $5,203,000 after purchasing an additional 56,320 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Ameris Bancorp by 4.6% in the third quarter. Principal Financial Group Inc. now owns 1,263,487 shares of the bank’s stock valued at $78,829,000 after purchasing an additional 55,473 shares in the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Insider Activity

In other news, Director Robert Dale Ezzell sold 8,000 shares of Ameris Bancorp stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $69.91, for a total value of $559,280.00. Following the sale, the director now directly owns 27,444 shares in the company, valued at approximately $1,918,610.04. This trade represents a 22.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

ABCB has been the topic of a number of research analyst reports. Stephens increased their price target on shares of Ameris Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating in a report on Monday, October 28th. Keefe, Bruyette & Woods increased their target price on Ameris Bancorp from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Truist Financial dropped their price target 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 on the stock 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 equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.17.

Ameris Bancorp Trading Up 0.5 %

NASDAQ ABCB opened at $67.00 on Tuesday. The stock has a 50-day moving average of $66.66 and a 200-day moving average of $59.88. 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 $44.00 and a 1-year high of $74.56. The firm has a market cap of $4.63 billion, a PE ratio of 13.96 and a beta of 1.03.

Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings data 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 firm had revenue of $424.86 million during the quarter, compared to analyst estimates of $290.60 million. During the same quarter in the prior year, the firm posted $1.16 earnings per share. As a group, sell-side analysts forecast that Ameris Bancorp will post 4.83 EPS for the current year.

Ameris Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend was Monday, September 30th. Ameris Bancorp’s payout ratio is 12.50%.

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.