SG Americas Securities LLC Cuts Stake in Ameris Bancorp (NASDAQ:ABCB)

SG Americas Securities LLC reduced its position in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 83.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,110 shares of the bank's stock after selling 15,883 shares during the period. SG Americas Securities LLC's holdings in Ameris Bancorp were worth $195,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Handelsbanken Fonder AB boosted its stake in Ameris Bancorp by 26.0% during the third quarter. Handelsbanken Fonder AB now owns 15,530 shares of the bank's stock worth $969,000 after buying an additional 3,200 shares during the period. GAMMA Investing LLC grew its holdings in shares of Ameris Bancorp by 38.0% in the third quarter. GAMMA Investing LLC now owns 1,130 shares of the bank's stock valued at $71,000 after purchasing an additional 311 shares in the last quarter. CWM LLC grew its holdings in shares of Ameris Bancorp by 105.8% in the third quarter. CWM LLC now owns 2,696 shares of the bank's stock valued at $168,000 after purchasing an additional 1,386 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Ameris Bancorp by 249.5% in the third quarter. Blue Trust Inc. now owns 713 shares of the bank's stock valued at $44,000 after purchasing an additional 509 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Ameris Bancorp in the third quarter valued at approximately $233,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ABCB. Truist Financial dropped their price objective on shares of Ameris Bancorp from $73.00 to $68.00 and set a "buy" rating for the company in a report on Monday, October 28th. Keefe, Bruyette & Woods boosted their price target on shares of Ameris Bancorp from $70.00 to $80.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. StockNews.com upgraded shares of Ameris Bancorp from a "sell" rating to a "hold" rating in a report on Thursday, October 31st. Raymond James reiterated an "outperform" rating and set a $71.00 price target (up previously from $67.00) on shares of Ameris Bancorp in a report on Monday, February 3rd. Finally, Stephens reiterated an "equal weight" rating and set a $71.00 price target on shares of Ameris Bancorp in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Ameris Bancorp currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.50.

Ameris Bancorp Stock Down 2.4 %

Shares of NASDAQ:ABCB traded down $1.62 during trading on Wednesday, hitting $66.69. 246,805 shares of the company were exchanged, compared to its average volume of 408,389. The stock has a market capitalization of $4.61 billion, a P/E ratio of 12.80 and a beta of 1.06. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. Ameris Bancorp has a 12-month low of $44.22 and a 12-month high of $74.56. The firm's 50 day moving average price is $64.68 and its 200-day moving average price is $63.45.

Ameris Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Tuesday, December 31st were given a $0.20 dividend. This is an increase from Ameris Bancorp's previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, December 31st. This represents a $0.80 annualized dividend and a yield of 1.20%. Ameris Bancorp's dividend payout ratio is 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.