Intech Investment Management LLC Buys 24,680 Shares of Ameris Bancorp (NASDAQ:ABCB)

Intech Investment Management LLC increased its holdings in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 158.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 40,279 shares of the bank's stock after buying an additional 24,680 shares during the quarter. Intech Investment Management LLC owned 0.06% of Ameris Bancorp worth $2,520,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in shares of Ameris Bancorp by 4.6% in the third quarter. Principal Financial Group Inc. now owns 1,263,487 shares of the bank's stock worth $78,829,000 after acquiring an additional 55,473 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Ameris Bancorp by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 917,396 shares of the bank's stock worth $57,401,000 after purchasing an additional 10,256 shares in the last quarter. Congress Asset Management Co. increased its stake in Ameris Bancorp by 1.5% during the 4th quarter. Congress Asset Management Co. now owns 821,554 shares of the bank's stock worth $51,405,000 after purchasing an additional 12,216 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of Ameris Bancorp by 2.5% during the fourth quarter. William Blair Investment Management LLC now owns 789,271 shares of the bank's stock worth $49,385,000 after acquiring an additional 19,150 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Ameris Bancorp by 9.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 728,253 shares of the bank's stock valued at $45,436,000 after purchasing an additional 60,448 shares during the period. 91.64% of the stock is currently owned by institutional investors.

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Ameris Bancorp Stock Performance

Shares of ABCB stock traded up $1.63 on Monday, hitting $59.41. The company's stock had a trading volume of 461,580 shares, compared to its average volume of 342,995. Ameris Bancorp has a fifty-two week low of $44.23 and a fifty-two week high of $74.56. The company has a market capitalization of $4.10 billion, a PE ratio of 11.40 and a beta of 1.02. The stock's 50 day moving average is $63.11 and its 200-day moving average is $63.98. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02.

Ameris Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Monday, March 31st. Ameris Bancorp's dividend payout ratio (DPR) is currently 15.36%.

Insider Buying and Selling

In other news, insider Douglas D. Strange acquired 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average cost 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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