First Eagle Investment Management LLC lowered its position in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 7.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 272,283 shares of the bank's stock after selling 21,450 shares during the period. First Eagle Investment Management LLC owned approximately 0.39% of Ameris Bancorp worth $17,037,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its holdings in Ameris Bancorp by 1.4% in the third quarter. Victory Capital Management Inc. now owns 863,294 shares of the bank's stock worth $53,861,000 after purchasing an additional 12,054 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Ameris Bancorp by 4.6% in the third quarter. Principal Financial Group Inc. now owns 1,263,487 shares of the bank's stock worth $78,829,000 after purchasing an additional 55,473 shares during the last quarter. Stifel Financial Corp boosted its holdings in Ameris Bancorp by 13.9% in the third quarter. Stifel Financial Corp now owns 21,107 shares of the bank's stock worth $1,317,000 after purchasing an additional 2,575 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in Ameris Bancorp by 135.5% in the third quarter. Point72 Asset Management L.P. now owns 115,194 shares of the bank's stock worth $7,187,000 after purchasing an additional 66,287 shares during the last quarter. Finally, Citigroup Inc. boosted its holdings in Ameris Bancorp by 32.5% in the third quarter. Citigroup Inc. now owns 142,122 shares of the bank's stock worth $8,867,000 after purchasing an additional 34,881 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company's stock.
Ameris Bancorp Price Performance
Shares of ABCB traded down $0.15 during trading hours on Tuesday, reaching $57.67. 434,618 shares of the stock traded hands, compared to its average volume of 340,368. 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 52-week low of $44.23 and a 52-week high of $74.56. The company's 50-day moving average price is $63.37 and its two-hundred day moving average price is $64.08. The company has a market cap of $3.98 billion, a P/E ratio of 11.07 and a beta of 1.02.
Ameris Bancorp Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Tuesday, December 31st were paid a dividend of $0.20 per share. This is a boost from Ameris Bancorp's previous quarterly dividend of $0.15. 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 1.39%. Ameris Bancorp's payout ratio is 15.36%.
Insider Activity at Ameris Bancorp
In other news, insider Douglas D. Strange bought 1,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average price of $56.95 per share, for a total transaction of $56,950.00. Following the purchase, the insider now owns 19,403 shares in the company, valued at $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 available through this link. 5.50% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several research analysts have recently weighed in on ABCB shares. Stephens reiterated an "equal weight" rating and set a $71.00 price target on shares of Ameris Bancorp in a research note on Friday, January 31st. 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. Finally, Raymond James reiterated an "outperform" rating and set a $71.00 price target (up previously 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 issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $70.50.
Get Our Latest Analysis on ABCB
Ameris Bancorp Profile
(
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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