Trexquant Investment LP Has $4.18 Million Holdings in Ameris Bancorp (NASDAQ:ABCB)

Trexquant Investment LP increased its position in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 194.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 66,827 shares of the bank's stock after purchasing an additional 44,121 shares during the quarter. Trexquant Investment LP owned 0.10% of Ameris Bancorp worth $4,181,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Ameris Bancorp during the fourth quarter worth about $48,380,000. JPMorgan Chase & Co. lifted its position in Ameris Bancorp by 30.7% during the fourth 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 purchased a new stake in Ameris Bancorp in the 4th quarter valued at about $10,856,000. Barclays PLC lifted its holdings in shares of Ameris Bancorp by 107.7% during the 3rd quarter. Barclays PLC now owns 140,001 shares of the bank's stock worth $8,735,000 after acquiring an additional 72,599 shares during the period. Finally, Point72 Asset Management L.P. boosted its position in shares of Ameris Bancorp by 135.5% in 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 during the last quarter. Institutional investors and hedge funds own 91.64% of the company's stock.

Ameris Bancorp Stock Down 7.3 %

Ameris Bancorp stock traded down $4.00 during trading hours on Thursday, hitting $50.90. The company had a trading volume of 70,904 shares, compared to its average volume of 378,337. The firm's fifty day moving average is $60.41 and its 200-day moving average is $63.31. 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 fifty-two week low of $44.23 and a fifty-two week high of $74.56. The firm has a market capitalization of $3.52 billion, a P/E ratio of 9.82 and a beta of 0.87.

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Ameris Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Monday, March 31st were paid a $0.20 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.80 annualized dividend and a dividend yield of 1.57%. Ameris Bancorp's payout ratio is 15.36%.

Insider Activity at Ameris Bancorp

In related news, insider Douglas D. Strange bought 1,000 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were bought at an average cost of $56.95 per share, for a total transaction of $56,950.00. Following the completion of the acquisition, the insider now directly owns 19,403 shares in the company, valued at approximately $1,105,000.85. This represents a 5.43 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.50% of the company's stock.

Analyst Upgrades and Downgrades

ABCB has been the subject of several research analyst reports. 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. Piper Sandler assumed coverage on Ameris Bancorp in a report on Friday, April 4th. They issued an "overweight" rating and a $74.00 price target for the company. Raymond James reaffirmed an "outperform" rating and set a $71.00 price target (up previously from $67.00) on shares of Ameris Bancorp in a research note on Monday, February 3rd. Finally, Piper Sandler Companies upped their price objective on shares of Ameris Bancorp to $74.00 and gave the company a "buy" rating in a research report on Monday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $73.43.

About Ameris Bancorp

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.