Congress Wealth Management LLC DE Increases Stock Holdings in Ameris Bancorp (NASDAQ:ABCB)

Congress Wealth Management LLC DE grew its stake in Ameris Bancorp (NASDAQ:ABCB) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,442 shares of the bank’s stock after purchasing an additional 6,168 shares during the period. Congress Wealth Management LLC DE’s holdings in Ameris Bancorp were worth $7,849,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ABCB. Jennison Associates LLC purchased a new position in Ameris Bancorp during the 4th quarter worth $10,856,000. Charles Schwab Investment Management Inc. raised its holdings in Ameris Bancorp by 9.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 907,140 shares of the bank’s stock worth $56,596,000 after purchasing an additional 79,060 shares in the last quarter. Barclays PLC lifted its position in Ameris Bancorp by 107.7% in the third quarter. Barclays PLC now owns 140,001 shares of the bank’s stock valued at $8,735,000 after purchasing an additional 72,599 shares during the period. Point72 Asset Management L.P. boosted its holdings in Ameris Bancorp by 135.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 115,194 shares of the bank’s stock valued at $7,187,000 after purchasing an additional 66,287 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in Ameris Bancorp by 2,768.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 68,384 shares of the bank’s stock worth $4,292,000 after purchasing an additional 66,000 shares during the period. 91.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on ABCB. Stephens reissued an “equal weight” rating and issued a $71.00 price target on shares of Ameris Bancorp in a report on Friday, January 31st. Keefe, Bruyette & Woods raised their target price on Ameris Bancorp from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Raymond James reaffirmed an “outperform” rating and set a $71.00 price target (up from $67.00) on shares of Ameris Bancorp in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.50.

Ameris Bancorp Trading Down 0.4 %

Shares of ABCB stock opened at $59.11 on Wednesday. Ameris Bancorp has a fifty-two week low of $44.23 and a fifty-two week high of $74.56. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The business has a fifty day simple moving average of $63.03 and a 200-day simple moving average of $63.97. The stock has a market cap of $4.08 billion, a P/E ratio of 11.35 and a beta of 1.02.

Ameris Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Monday, March 31st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Monday, March 31st. Ameris Bancorp’s dividend payout ratio (DPR) is presently 15.36%.

Insider Activity

In related news, insider Douglas D. Strange acquired 1,000 shares of Ameris Bancorp stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $56.95 per share, for a total transaction of $56,950.00. Following the completion of the transaction, the insider now directly owns 19,403 shares of the company’s stock, valued at $1,105,000.85. The trade was a 5.43 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 5.50% of the company’s stock.

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.