Fisher Asset Management LLC Boosts Holdings in Ameris Bancorp (NASDAQ:ABCB)

Fisher Asset Management LLC boosted its stake in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 6.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 241,820 shares of the bank's stock after acquiring an additional 13,917 shares during the period. Fisher Asset Management LLC owned 0.35% of Ameris Bancorp worth $15,131,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Proficio Capital Partners LLC bought a new stake in Ameris Bancorp during the fourth quarter valued at $1,585,000. Oppenheimer Asset Management Inc. lifted its stake in shares of Ameris Bancorp by 4.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 3,880 shares of the bank's stock valued at $243,000 after purchasing an additional 167 shares during the period. Illinois Municipal Retirement Fund boosted its position in shares of Ameris Bancorp by 1.8% during the 4th quarter. Illinois Municipal Retirement Fund now owns 35,689 shares of the bank's stock valued at $2,233,000 after purchasing an additional 628 shares in the last quarter. Ieq Capital LLC bought a new stake in Ameris Bancorp in the fourth quarter worth approximately $496,000. Finally, Venturi Wealth Management LLC acquired a new position in Ameris Bancorp in the fourth quarter valued at approximately $105,000. Institutional investors and hedge funds own 91.64% of the company's stock.

Ameris Bancorp Stock Down 1.1 %

Shares of Ameris Bancorp stock traded down $0.66 on Friday, hitting $58.91. The company had a trading volume of 569,263 shares, compared to its average volume of 398,065. Ameris Bancorp has a 1 year low of $44.22 and a 1 year high of $74.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. The stock has a 50 day moving average of $64.10 and a 200-day moving average of $64.16. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 11.31 and a beta of 1.06.

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Ameris Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Tuesday, December 31st were paid a $0.20 dividend. This is a positive change from Ameris Bancorp's previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, December 31st. This represents a $0.80 annualized dividend and a dividend yield of 1.36%. Ameris Bancorp's dividend payout ratio is presently 15.36%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Keefe, Bruyette & Woods raised their price target on shares of Ameris Bancorp from $70.00 to $80.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Stephens reaffirmed an "equal weight" rating and set a $71.00 price target on shares of Ameris Bancorp in a research note on Friday, January 31st. Finally, Raymond James reissued an "outperform" rating and issued a $71.00 price objective (up previously from $67.00) on shares of Ameris Bancorp in a research note on Monday, February 3rd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $70.50.

Ameris Bancorp 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.