13,820 Shares in Ameris Bancorp (NASDAQ:ABCB) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in Ameris Bancorp (NASDAQ:ABCB - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 13,820 shares of the bank's stock, valued at approximately $867,000.

Other institutional investors also recently modified their holdings of the company. Picton Mahoney Asset Management lifted its stake in shares of Ameris Bancorp by 2,436.8% during the 4th quarter. Picton Mahoney Asset Management now owns 482 shares of the bank's stock worth $30,000 after buying an additional 463 shares during the last quarter. R Squared Ltd acquired a new stake in Ameris Bancorp during the fourth quarter worth approximately $51,000. Blue Trust Inc. lifted its position in Ameris Bancorp by 56.1% during the fourth quarter. Blue Trust Inc. now owns 1,113 shares of the bank's stock worth $69,000 after acquiring an additional 400 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Ameris Bancorp by 17.9% during 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 period. Finally, Smartleaf Asset Management LLC grew its position in shares of Ameris Bancorp by 167.5% in the fourth 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 last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Ameris Bancorp Stock Performance

Shares of NASDAQ ABCB traded up $0.89 during midday trading on Wednesday, hitting $57.89. 415,841 shares of the company's stock traded hands, compared to its average volume of 372,727. 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 capitalization of $4.00 billion, a price-to-earnings ratio of 11.11 and a beta of 1.02. The firm has a fifty day moving average of $62.22 and a 200 day moving average of $63.86. Ameris Bancorp has a 1 year low of $44.23 and a 1 year high of $74.56.

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Ameris Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.38%. Ameris Bancorp's dividend payout ratio is presently 15.36%.

Insider Activity at Ameris Bancorp

In other news, insider Douglas D. Strange acquired 1,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $56.95 per share, for a total transaction of $56,950.00. Following the completion of the transaction, the insider now owns 19,403 shares in the company, valued at approximately $1,105,000.85. The trade was a 5.43 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ABCB has been the subject of several analyst reports. Stephens reiterated an "equal weight" rating and issued a $71.00 price objective on shares of Ameris Bancorp in a research note on Friday, January 31st. Keefe, Bruyette & Woods lifted their price target 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. Finally, Raymond James reissued 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 investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus 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.