Raymond James Financial Inc. Invests $2.02 Million in Ameris Bancorp (NASDAQ:ABCB)

Raymond James Financial Inc. acquired a new position in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 32,219 shares of the bank's stock, valued at approximately $2,016,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ABCB. Principal Financial Group Inc. boosted its position in shares of Ameris Bancorp by 4.6% during the third quarter. Principal Financial Group Inc. now owns 1,263,487 shares of the bank's stock valued at $78,829,000 after buying an additional 55,473 shares during the period. Stifel Financial Corp lifted its position in shares of Ameris Bancorp by 13.9% during the third quarter. Stifel Financial Corp now owns 21,107 shares of the bank's stock worth $1,317,000 after purchasing an additional 2,575 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Ameris Bancorp by 135.5% during the third quarter. Point72 Asset Management L.P. now owns 115,194 shares of the bank's stock valued at $7,187,000 after purchasing an additional 66,287 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Ameris Bancorp by 1.1% in the fourth 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 during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Ameris Bancorp by 2,768.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 68,384 shares of the bank's stock worth $4,292,000 after buying an additional 66,000 shares during the period. Hedge funds and other institutional investors own 91.64% of the company's stock.

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Ameris Bancorp Stock Down 9.9 %

Shares of ABCB traded down $5.74 during trading hours on Thursday, hitting $52.04. The company had a trading volume of 505,265 shares, compared to its average volume of 373,564. Ameris Bancorp has a one year low of $44.23 and a one year high of $74.56. The company's fifty day moving average price is $61.98 and its two-hundred day moving average price is $63.78. The company has a market capitalization of $3.59 billion, a PE ratio of 9.99 and a beta of 1.02. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11.

Ameris Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Monday, March 31st will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Monday, March 31st. Ameris Bancorp's payout ratio is 15.36%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Ameris Bancorp

In other Ameris Bancorp news, insider Douglas D. Strange purchased 1,000 shares of Ameris Bancorp stock in a transaction dated 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 transaction, the insider now owns 19,403 shares in the company, valued at approximately $1,105,000.85. This trade represents a 5.43 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 5.50% of the company's stock.

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.