Venturi Wealth Management LLC Takes $105,000 Position in Ameris Bancorp (NASDAQ:ABCB)

Venturi Wealth Management LLC bought a new position in shares of Ameris Bancorp (NASDAQ:ABCB) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,675 shares of the bank’s stock, valued at approximately $105,000.

Several other large investors have also recently bought and sold shares of ABCB. Blue Trust Inc. grew its position in Ameris Bancorp by 249.5% during the third quarter. Blue Trust Inc. now owns 713 shares of the bank’s stock worth $44,000 after buying an additional 509 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Ameris Bancorp during the third quarter valued at approximately $233,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Ameris Bancorp by 2.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 12,503 shares of the bank’s stock valued at $780,000 after purchasing an additional 258 shares in the last quarter. Congress Asset Management Co. lifted its position in Ameris Bancorp by 2.5% in the third quarter. Congress Asset Management Co. now owns 809,338 shares of the bank’s stock worth $50,495,000 after purchasing an additional 19,506 shares during the period. Finally, US Bancorp DE boosted its stake in Ameris Bancorp by 3,396.4% during the third quarter. US Bancorp DE now owns 1,923 shares of the bank’s stock worth $120,000 after buying an additional 1,868 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Ameris Bancorp Price Performance

Shares of ABCB opened at $63.39 on Monday. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The stock has a market cap of $4.38 billion, a P/E ratio of 12.17 and a beta of 1.06. The stock’s 50-day moving average price is $64.31 and its two-hundred day moving average price is $63.89. Ameris Bancorp has a 1 year low of $44.22 and a 1 year high of $74.56.

Ameris Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Tuesday, December 31st were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.26%. This is a boost from Ameris Bancorp’s previous quarterly dividend of $0.15. Ameris Bancorp’s dividend payout ratio is currently 15.36%.

Analysts Set New Price Targets

ABCB has been the subject of a number of recent research reports. Raymond James restated an “outperform” rating and issued a $71.00 price objective (up previously from $67.00) on shares of Ameris Bancorp in a research note on Monday, February 3rd. Stephens reaffirmed an “equal weight” rating and set a $71.00 price objective on shares of Ameris Bancorp in a report on Friday, January 31st. Truist Financial dropped their target price on Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating for the company in a report on Monday, October 28th. Keefe, Bruyette & Woods boosted their price target on Ameris Bancorp from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. 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 given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $70.50.

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.