JPMorgan Chase & Co. raised its holdings in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 30.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 952,058 shares of the bank's stock after acquiring an additional 223,805 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.38% of Ameris Bancorp worth $59,570,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Picton Mahoney Asset Management boosted its holdings in shares of Ameris Bancorp by 2,436.8% during the fourth quarter. Picton Mahoney Asset Management now owns 482 shares of the bank's stock worth $30,000 after purchasing an additional 463 shares during the period. R Squared Ltd acquired a new stake in shares of Ameris Bancorp during the 4th quarter valued at $51,000. Blue Trust Inc. grew its holdings in shares of Ameris Bancorp by 56.1% during 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 in the last quarter. GAMMA Investing LLC increased its stake in shares of Ameris Bancorp by 17.9% in the fourth 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 last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of 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 acquiring an additional 896 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company's stock.
Insider Activity
In other Ameris Bancorp news, insider Douglas D. Strange bought 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $56.95 per share, for a total transaction of $56,950.00. Following the purchase, the insider now directly owns 19,403 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this link. 5.50% of the stock is currently owned by company insiders.
Ameris Bancorp Stock Performance
Shares of Ameris Bancorp stock traded up $4.21 on Wednesday, reaching $54.90. The stock had a trading volume of 878,450 shares, compared to its average volume of 379,527. Ameris Bancorp has a fifty-two week low of $44.23 and a fifty-two week high of $74.56. The business's 50-day moving average price is $60.41 and its two-hundred day moving average price is $63.31. 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 market cap of $3.79 billion, a P/E ratio of 10.54 and a beta of 0.87.
Ameris Bancorp Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Monday, March 31st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Monday, March 31st. Ameris Bancorp's dividend payout ratio (DPR) is 15.36%.
Analysts Set New Price Targets
ABCB has been the topic of several research reports. Raymond James reaffirmed an "outperform" rating and issued a $71.00 target price (up from $67.00) on shares of Ameris Bancorp in a research report on Monday, February 3rd. Piper Sandler began coverage on shares of Ameris Bancorp in a research report on Friday, April 4th. They set an "overweight" rating and a $74.00 price objective on the stock. Piper Sandler Companies boosted their target price on shares of Ameris Bancorp to $74.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Stephens restated an "equal weight" rating and set a $71.00 price target on shares of Ameris Bancorp in a report on Friday, January 31st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $73.43.
Read Our Latest Report on ABCB
About Ameris Bancorp
(
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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