New Age Alpha Advisors LLC acquired a new position in Ameris Bancorp (NASDAQ:ABCB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,490 shares of the bank's stock, valued at approximately $594,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in Ameris Bancorp in the fourth quarter worth approximately $48,380,000. JPMorgan Chase & Co. grew its position in shares of Ameris Bancorp by 30.7% during the 4th quarter. JPMorgan Chase & Co. now owns 952,058 shares of the bank's stock worth $59,570,000 after buying an additional 223,805 shares during the period. Jennison Associates LLC bought a new stake in shares of Ameris Bancorp in the 4th quarter valued at $10,856,000. Barclays PLC lifted its position in shares of Ameris Bancorp by 107.7% during the 3rd quarter. Barclays PLC now owns 140,001 shares of the bank's stock valued at $8,735,000 after acquiring an additional 72,599 shares during the period. Finally, Point72 Asset Management L.P. boosted its stake in Ameris Bancorp by 135.5% during the third quarter. Point72 Asset Management L.P. now owns 115,194 shares of the bank's stock worth $7,187,000 after acquiring an additional 66,287 shares in the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the stock. Raymond James reaffirmed an "outperform" rating and issued a $71.00 price target (up from $67.00) on shares of Ameris Bancorp in a research note on Monday, February 3rd. Keefe, Bruyette & Woods upped their price target on Ameris Bancorp from $70.00 to $80.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. Finally, Stephens reissued an "equal weight" rating and issued a $71.00 price objective on shares of Ameris Bancorp in a research note on Friday, January 31st. Two investment 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, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.50.
Read Our Latest Report on ABCB
Insiders Place Their Bets
In other news, insider Douglas D. Strange bought 1,000 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were purchased at an average price of $56.95 per share, with a total value of $56,950.00. Following the transaction, the insider now directly owns 19,403 shares in the company, valued at $1,105,000.85. This represents a 5.43 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.50% of the company's stock.
Ameris Bancorp Stock Up 1.6 %
Shares of Ameris Bancorp stock traded up $0.89 on Wednesday, hitting $57.89. The company had a trading volume of 415,841 shares, compared to its average volume of 372,727. Ameris Bancorp has a 1 year low of $44.23 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 $62.22 and a 200-day moving average of $63.86. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 11.11 and a beta of 1.02.
Ameris Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Monday, March 31st. Ameris Bancorp's dividend payout ratio (DPR) is presently 15.36%.
Ameris Bancorp Company 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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