Proficio Capital Partners LLC Makes New $1.59 Million Investment in Ameris Bancorp (NASDAQ:ABCB)

Proficio Capital Partners LLC acquired a new stake in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 25,325 shares of the bank's stock, valued at approximately $1,585,000.

Other large investors have also modified their holdings of the company. R Squared Ltd purchased a new stake in shares of Ameris Bancorp during the fourth quarter valued at $51,000. Blue Trust Inc. lifted its stake in Ameris Bancorp by 56.1% during the fourth quarter. Blue Trust Inc. now owns 1,113 shares of the bank's stock valued at $69,000 after buying an additional 400 shares in the last quarter. GAMMA Investing LLC boosted its holdings 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 buying an additional 202 shares during the period. USA Financial Formulas purchased a new position in shares of Ameris Bancorp in the fourth quarter worth approximately $98,000. Finally, Venturi Wealth Management LLC purchased a new position in shares of Ameris Bancorp in the fourth quarter worth approximately $105,000. 91.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on ABCB. Stephens reaffirmed an "equal weight" rating and issued a $71.00 price objective on shares of Ameris Bancorp in a research note on Friday, January 31st. Raymond James reaffirmed an "outperform" rating and issued a $71.00 target price (up previously from $67.00) on shares of Ameris Bancorp in a research report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods lifted their price target on Ameris Bancorp from $70.00 to $80.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $70.50.

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Ameris Bancorp Stock Down 3.0 %

Shares of Ameris Bancorp stock traded down $1.77 on Monday, hitting $57.01. 544,768 shares of the company traded hands, compared to its average volume of 401,324. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. Ameris Bancorp has a 12-month low of $44.22 and a 12-month high of $74.56. The company has a 50-day moving average price of $64.02 and a 200 day moving average price of $64.25. The company has a market cap of $3.94 billion, a PE ratio of 10.94 and a beta of 1.02.

Ameris Bancorp Increases Dividend

The company also recently announced 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. This represents a $0.80 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Tuesday, December 31st. Ameris Bancorp's dividend payout ratio is presently 15.36%.

Ameris Bancorp 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.