Independent Advisor Alliance trimmed its holdings in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,490,402 shares of the bank's stock after selling 43,178 shares during the period. Ameris Bancorp comprises approximately 2.1% of Independent Advisor Alliance's holdings, making the stock its 4th largest holding. Independent Advisor Alliance owned about 3.61% of Ameris Bancorp worth $155,824,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. R Squared Ltd acquired a new stake in Ameris Bancorp during the fourth quarter valued at approximately $51,000. Blue Trust Inc. increased its holdings in shares of Ameris Bancorp by 56.1% in the 4th quarter. Blue Trust Inc. now owns 1,113 shares of the bank's stock valued at $69,000 after acquiring an additional 400 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Ameris Bancorp by 17.9% during the 4th quarter. GAMMA Investing LLC now owns 1,332 shares of the bank's stock valued at $83,000 after acquiring an additional 202 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Ameris Bancorp by 167.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the bank's stock worth $90,000 after purchasing an additional 896 shares during the last quarter. Finally, USA Financial Formulas bought a new position in shares of Ameris Bancorp in the 4th quarter worth about $98,000. 91.64% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In related news, insider Douglas D. Strange bought 1,000 shares of Ameris Bancorp stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $56.95 per share, with a total value of $56,950.00. Following the completion of the acquisition, the insider now directly owns 19,403 shares in the company, valued at approximately $1,105,000.85. This trade represents a 5.43 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.50% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have commented on the company. Keefe, Bruyette & Woods lifted their target price on Ameris Bancorp from $70.00 to $80.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Stephens reiterated 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, Raymond James restated an "outperform" rating and set a $71.00 price target (up previously from $67.00) on shares of Ameris Bancorp in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Ameris Bancorp has an average rating of "Moderate Buy" and an average price target of $70.50.
Read Our Latest Research Report on ABCB
Ameris Bancorp Price Performance
Shares of ABCB stock traded down $0.91 during midday trading on Thursday, reaching $55.57. 534,775 shares of the company were exchanged, compared to its average volume of 414,064. The company's 50 day moving average price is $63.65 and its two-hundred day moving average price is $64.14. 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 company has a market cap of $3.84 billion, a P/E ratio of 10.67 and a beta of 1.02. Ameris Bancorp has a 12 month low of $44.22 and a 12 month high of $74.56.
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 given 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 yield of 1.44%. Ameris Bancorp's payout ratio is 15.36%.
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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