Charles Schwab Investment Management Inc. Purchases 10,256 Shares of Ameris Bancorp (NASDAQ:ABCB)

Charles Schwab Investment Management Inc. lifted its position in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 1.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 917,396 shares of the bank's stock after purchasing an additional 10,256 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.33% of Ameris Bancorp worth $57,401,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. R Squared Ltd acquired a new position in Ameris Bancorp during the 4th quarter worth about $51,000. Blue Trust Inc. lifted its position in Ameris Bancorp by 56.1% during the 4th quarter. Blue Trust Inc. now owns 1,113 shares of the bank's stock worth $69,000 after buying an additional 400 shares in the last quarter. GAMMA Investing LLC lifted its position in Ameris Bancorp by 17.9% during the 4th quarter. GAMMA Investing LLC now owns 1,332 shares of the bank's stock worth $83,000 after buying an additional 202 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Ameris Bancorp by 167.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the bank's stock valued at $90,000 after purchasing an additional 896 shares during the period. Finally, USA Financial Formulas bought a new position in shares of Ameris Bancorp in the 4th quarter valued at about $98,000. Institutional investors and hedge funds own 91.64% of the company's stock.

Ameris Bancorp Trading Up 3.5 %

Shares of NASDAQ:ABCB traded up $1.93 during midday trading on Friday, hitting $57.49. 438,836 shares of the stock were exchanged, compared to its average volume of 414,568. The business's 50-day moving average price is $63.46 and its 200 day moving average price is $64.08. Ameris Bancorp has a 12 month low of $44.22 and a 12 month high of $74.56. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 11.03 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.

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Ameris Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders 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 1.39%. 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. Ameris Bancorp's dividend payout ratio is presently 15.36%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ABCB. Raymond James reiterated an "outperform" rating and issued a $71.00 price target (up from $67.00) on shares of Ameris Bancorp in a research report on Monday, February 3rd. Stephens reissued an "equal weight" rating and issued a $71.00 target price on shares of Ameris Bancorp in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Ameris Bancorp from $70.00 to $80.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Two research 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 has a consensus rating of "Moderate Buy" and a consensus price target 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.