4,200 Shares in Ameris Bancorp (NASDAQ:ABCB) Bought by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH purchased 4,200 shares of Ameris Bancorp in the first quarter, valued at approximately $242,000.
• Ameris Bancorp recently announced a quarterly dividend of $0.20 per share, which provides an annualized dividend yield of 1.2%.
• Brokerage analysts show a consensus rating of "Moderate Buy" for Ameris Bancorp, with a consensus price target of $72.14.

Allianz Asset Management GmbH bought a new stake in Ameris Bancorp (NASDAQ:ABCB - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,200 shares of the bank's stock, valued at approximately $242,000.

Several other hedge funds have also recently made changes to their positions in ABCB. Commonwealth Equity Services LLC boosted its stake in shares of Ameris Bancorp by 12.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 6,948 shares of the bank's stock worth $435,000 after acquiring an additional 771 shares in the last quarter. LPL Financial LLC boosted its stake in shares of Ameris Bancorp by 11.1% during the 4th quarter. LPL Financial LLC now owns 7,215 shares of the bank's stock worth $451,000 after acquiring an additional 721 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of Ameris Bancorp by 13.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 4,110 shares of the bank's stock worth $257,000 after acquiring an additional 485 shares in the last quarter. Franklin Resources Inc. purchased a new stake in shares of Ameris Bancorp during the 4th quarter worth about $390,000. Finally, Trexquant Investment LP boosted its stake in shares of Ameris Bancorp by 194.3% during the 4th quarter. Trexquant Investment LP now owns 66,827 shares of the bank's stock worth $4,181,000 after acquiring an additional 44,121 shares in the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ABCB. Raymond James Financial reduced their price target on shares of Ameris Bancorp from $71.00 to $65.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Stephens restated an "equal weight" rating and set a $63.00 price target on shares of Ameris Bancorp in a research report on Tuesday, April 29th. Finally, DA Davidson set a $81.00 price target on shares of Ameris Bancorp and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $72.14.

Ameris Bancorp Stock Up 1.7%

Shares of Ameris Bancorp stock traded up $1.12 during trading on Friday, hitting $67.14. 263,788 shares of the stock were exchanged, compared to its average volume of 428,074. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of 12.90 and a beta of 0.96. The firm's 50-day moving average price is $64.86 and its 200 day moving average price is $61.78. Ameris Bancorp has a 12-month low of $48.27 and a 12-month high of $74.56. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 7th. Stockholders of record on Monday, June 30th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, June 30th. Ameris Bancorp's payout ratio is 14.08%.

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.