Amundi Raises Position in Ameris Bancorp (NASDAQ:ABCB)

Amundi raised its holdings in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 188.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,579 shares of the bank's stock after purchasing an additional 21,957 shares during the quarter. Amundi's holdings in Ameris Bancorp were worth $2,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in ABCB. Oppenheimer Asset Management Inc. purchased a new stake in shares of Ameris Bancorp during the 3rd quarter worth approximately $232,000. Natixis Advisors LLC raised its stake in shares of Ameris Bancorp by 2.8% in the third quarter. Natixis Advisors LLC now owns 23,599 shares of the bank's stock valued at $1,472,000 after buying an additional 646 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of Ameris Bancorp by 5.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 62,566 shares of the bank's stock valued at $3,903,000 after buying an additional 3,005 shares during the last quarter. LMR Partners LLP bought a new position in shares of Ameris Bancorp during the 3rd quarter worth $311,000. Finally, Pathstone Holdings LLC increased its holdings in Ameris Bancorp by 5.8% in the 3rd quarter. Pathstone Holdings LLC now owns 25,065 shares of the bank's stock worth $1,564,000 after acquiring an additional 1,364 shares during the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.

Ameris Bancorp Price Performance

Shares of NASDAQ:ABCB traded up $0.26 during trading on Friday, reaching $57.69. The company had a trading volume of 971,498 shares, compared to its average volume of 343,164. The company has a fifty day moving average of $63.15 and a two-hundred day moving average of $63.97. 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 capitalization of $3.98 billion, a P/E ratio of 11.07 and a beta of 1.02. Ameris Bancorp has a 12 month low of $44.23 and a 12 month high of $74.56.

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Ameris Bancorp Announces Dividend

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

Insider Activity

In other Ameris Bancorp news, insider Douglas D. Strange purchased 1,000 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average price of $56.95 per share, with a total value of $56,950.00. Following the completion of the purchase, 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 position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 5.50% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ABCB shares. Keefe, Bruyette & Woods lifted their target price 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. Stephens reissued an "equal weight" rating and set a $71.00 target price on shares of Ameris Bancorp in a report on Friday, January 31st. Finally, Raymond James reaffirmed an "outperform" rating and issued a $71.00 price target (up from $67.00) on shares of Ameris Bancorp in a report on Monday, February 3rd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $70.50.

About Ameris Bancorp

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.