Proficio Capital Partners LLC Takes Position in Ameris Bancorp (NASDAQ:ABCB)

Proficio Capital Partners LLC acquired a new stake in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 25,325 shares of the bank's stock, valued at approximately $1,585,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Principal Financial Group Inc. boosted its holdings in shares of Ameris Bancorp by 4.6% during the 3rd 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 during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Ameris Bancorp by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 917,396 shares of the bank's stock valued at $57,401,000 after purchasing an additional 10,256 shares during the last quarter. Congress Asset Management Co. boosted its holdings in shares of Ameris Bancorp by 1.5% during the 4th quarter. Congress Asset Management Co. now owns 821,554 shares of the bank's stock valued at $51,405,000 after purchasing an additional 12,216 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Ameris Bancorp by 9.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 728,253 shares of the bank's stock valued at $45,436,000 after purchasing an additional 60,448 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of Ameris Bancorp by 6.1% during the 4th quarter. Fisher Asset Management LLC now owns 241,820 shares of the bank's stock valued at $15,131,000 after purchasing an additional 13,917 shares during the last quarter. Institutional investors own 91.64% of the company's stock.

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Ameris Bancorp Trading Up 0.4 %

Ameris Bancorp stock traded up $0.26 during midday trading on Friday, reaching $57.69. The stock had a trading volume of 1,111,176 shares, compared to its average volume of 342,519. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. Ameris Bancorp has a 52-week low of $44.23 and a 52-week high of $74.56. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of 11.07 and a beta of 1.02. The company has a fifty day moving average of $63.11 and a 200 day moving average of $63.96.

Ameris Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 31st will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Monday, March 31st. Ameris Bancorp's dividend payout ratio (DPR) is presently 15.36%.

Insider Transactions at Ameris Bancorp

In other Ameris Bancorp news, insider Douglas D. Strange acquired 1,000 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost of $56.95 per share, for a total transaction of $56,950.00. Following the completion of the purchase, the insider now owns 19,403 shares in the company, valued at approximately $1,105,000.85. This trade represents a 5.43 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 5.50% of the company's stock.

Analyst Upgrades and Downgrades

ABCB has been the subject of several research reports. Keefe, Bruyette & Woods increased their price objective on shares of Ameris Bancorp from $70.00 to $80.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Stephens restated an "equal weight" rating and set a $71.00 target price on shares of Ameris Bancorp in a research report on Friday, January 31st. Finally, Raymond James restated an "outperform" rating and set a $71.00 target price (up from $67.00) on shares of Ameris Bancorp in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Ameris Bancorp has an average rating of "Moderate Buy" and a consensus target price 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.