Ameris Bancorp (NASDAQ:ABCB) Shares Purchased by Summit Creek Advisors LLC

Summit Creek Advisors LLC lifted its holdings in Ameris Bancorp (NASDAQ:ABCB) by 0.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 241,512 shares of the bank’s stock after purchasing an additional 831 shares during the period. Ameris Bancorp makes up 2.0% of Summit Creek Advisors LLC’s holdings, making the stock its 24th biggest holding. Summit Creek Advisors LLC’s holdings in Ameris Bancorp were worth $15,111,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ABCB. Oppenheimer Asset Management Inc. lifted its stake in Ameris Bancorp by 4.5% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 3,880 shares of the bank’s stock worth $243,000 after acquiring an additional 167 shares during the last quarter. GAMMA Investing LLC lifted its stake in Ameris Bancorp by 17.9% in the fourth quarter. GAMMA Investing LLC now owns 1,332 shares of the bank’s stock worth $83,000 after acquiring an additional 202 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Ameris Bancorp by 4.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,174 shares of the bank’s stock worth $324,000 after acquiring an additional 238 shares during the last quarter. Savant Capital LLC lifted its stake in Ameris Bancorp by 3.8% in the fourth quarter. Savant Capital LLC now owns 7,371 shares of the bank’s stock worth $461,000 after acquiring an additional 267 shares during the last quarter. Finally, Atria Investments Inc lifted its stake in Ameris Bancorp by 3.4% in the fourth quarter. Atria Investments Inc now owns 9,124 shares of the bank’s stock worth $571,000 after acquiring an additional 298 shares during the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Insider Activity at Ameris Bancorp

In other Ameris Bancorp news, insider Douglas D. Strange purchased 1,000 shares of Ameris Bancorp stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $56.95 per share, for a total transaction of $56,950.00. Following the transaction, the insider now directly owns 19,403 shares in the company, valued at $1,105,000.85. This trade represents a 5.43 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Ameris Bancorp from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Raymond James reiterated an “outperform” rating and issued a $71.00 price target (up previously from $67.00) on shares of Ameris Bancorp in a research note on Monday, February 3rd. Finally, Stephens restated an “equal weight” rating and set a $71.00 price objective on shares of Ameris Bancorp in a research report on Friday, January 31st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Ameris Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $70.50.

Ameris Bancorp Stock Up 0.4 %

Shares of NASDAQ:ABCB opened at $57.69 on Monday. The company has a market capitalization of $3.98 billion, a PE ratio of 11.07 and a beta of 1.02. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. Ameris Bancorp has a twelve month low of $44.23 and a twelve month high of $74.56. The firm has a 50 day simple moving average of $63.11 and a 200-day simple moving average of $63.98.

Ameris Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Monday, March 31st will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.80 annualized dividend and a yield of 1.39%. Ameris Bancorp’s dividend payout ratio (DPR) is 15.36%.

About Ameris Bancorp

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.