Bank of New York Mellon Corp Has $35.10 Million Stake in Ameris Bancorp (NASDAQ:ABCB)

Bank of New York Mellon Corp lowered its stake in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 5.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 560,945 shares of the bank's stock after selling 31,100 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.81% of Ameris Bancorp worth $35,098,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of ABCB. GAMMA Investing LLC lifted its position in shares of Ameris Bancorp by 17.9% in the 4th quarter. GAMMA Investing LLC now owns 1,332 shares of the bank's stock worth $83,000 after acquiring an additional 202 shares during the period. Savant Capital LLC grew its holdings in shares of Ameris Bancorp by 3.8% in the 4th quarter. Savant Capital LLC now owns 7,371 shares of the bank's stock worth $461,000 after purchasing an additional 267 shares during the last quarter. Blue Trust Inc. boosted its position in Ameris Bancorp by 56.1% in the fourth quarter. Blue Trust Inc. now owns 1,113 shares of the bank's stock valued at $69,000 after buying an additional 400 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Ameris Bancorp by 13.6% in the 4th quarter. Sanctuary Advisors LLC now owns 3,819 shares of the bank's stock worth $250,000 after acquiring an additional 457 shares in the last quarter. Finally, Point72 DIFC Ltd boosted its stake in Ameris Bancorp by 14.2% in the third quarter. Point72 DIFC Ltd now owns 4,236 shares of the bank's stock worth $264,000 after purchasing an additional 526 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

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Ameris Bancorp Stock Down 1.1 %

Shares of NASDAQ ABCB traded down $0.62 during mid-day trading on Tuesday, reaching $56.24. 858,084 shares of the company's stock were exchanged, compared to its average volume of 411,252. 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 business has a fifty day simple moving average of $63.90 and a 200 day simple moving average of $64.24. Ameris Bancorp has a twelve month low of $44.22 and a twelve month high of $74.56. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of 10.79 and a beta of 1.02.

Ameris Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Tuesday, December 31st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.42%. This is a positive change from Ameris Bancorp's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, December 31st. Ameris Bancorp's dividend payout ratio (DPR) is presently 15.36%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ABCB. Stephens reiterated an "equal weight" rating and set a $71.00 target price on shares of Ameris Bancorp in a research report on Friday, January 31st. Raymond James reaffirmed an "outperform" rating and set a $71.00 price objective (up previously from $67.00) on shares of Ameris Bancorp in a report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods upped 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. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Ameris Bancorp has a consensus rating of "Moderate Buy" and a consensus target price 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.