American Century Companies Inc. reduced its position in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 18.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,376,590 shares of the bank's stock after selling 302,910 shares during the period. American Century Companies Inc. owned about 1.99% of Ameris Bancorp worth $86,133,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Picton Mahoney Asset Management lifted its stake in Ameris Bancorp by 2,436.8% in the fourth quarter. Picton Mahoney Asset Management now owns 482 shares of the bank's stock valued at $30,000 after acquiring an additional 463 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Ameris Bancorp in the 4th quarter valued at $51,000. Blue Trust Inc. lifted its stake in shares of Ameris Bancorp by 56.1% in the 4th quarter. Blue Trust Inc. now owns 1,113 shares of the bank's stock valued at $69,000 after purchasing an additional 400 shares during the last quarter. GAMMA Investing LLC boosted its holdings 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 purchasing an additional 202 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Ameris Bancorp by 167.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the bank's stock worth $90,000 after buying an additional 896 shares during the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.
Ameris Bancorp Stock Performance
Shares of ABCB traded down $1.22 during mid-day trading on Friday, hitting $57.13. The company's stock had a trading volume of 270,241 shares, compared to its average volume of 372,862. The stock's 50-day moving average is $62.67 and its two-hundred day moving average is $63.88. The firm has a market capitalization of $3.95 billion, a PE ratio of 10.97 and a beta of 1.02. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. Ameris Bancorp has a one year low of $44.23 and a one year high of $74.56.
Ameris Bancorp Announces Dividend
The business 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 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Monday, March 31st. Ameris Bancorp's dividend payout ratio (DPR) is presently 15.36%.
Analyst Ratings Changes
A number of brokerages have weighed in on ABCB. Keefe, Bruyette & Woods boosted their price target on Ameris Bancorp from $70.00 to $80.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Raymond James restated an "outperform" rating and issued a $71.00 target price (up from $67.00) on shares of Ameris Bancorp in a report on Monday, February 3rd. Finally, Stephens reiterated an "equal weight" rating and set a $71.00 price target on shares of Ameris Bancorp in a report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Ameris Bancorp presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.50.
Get Our Latest Analysis on ABCB
Insiders Place Their Bets
In related news, insider Douglas D. Strange bought 1,000 shares of Ameris Bancorp stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price 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 represents a 5.43 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.50% of the company's stock.
About Ameris Bancorp
(
Free Report)
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.
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