Aigen Investment Management LP Makes New Investment in Ameris Bancorp $ABCB

Key Points

• Aigen Investment Management LP acquired a stake in Ameris Bancorp for approximately $287,000, representing a total of 4,980 shares.
• Several institutional investors, including North Reef Capital and Jennison Associates, have also increased their holdings in Ameris Bancorp, with 91.64% of the company's stock now held by institutional investors.
• Ameris Bancorp recently announced a quarterly dividend of $0.20 per share, equating to an annual dividend yield of 1.1%.

Aigen Investment Management LP purchased a new position in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,980 shares of the bank's stock, valued at approximately $287,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. North Reef Capital Management LP boosted its holdings in shares of Ameris Bancorp by 8.9% in the 4th quarter. North Reef Capital Management LP now owns 2,533,000 shares of the bank's stock valued at $158,490,000 after purchasing an additional 208,000 shares in the last quarter. Congress Asset Management Co. boosted its stake in Ameris Bancorp by 13.6% in the first quarter. Congress Asset Management Co. now owns 933,493 shares of the bank's stock valued at $53,741,000 after buying an additional 111,939 shares in the last quarter. Northern Trust Corp grew its position in Ameris Bancorp by 7.8% in the fourth quarter. Northern Trust Corp now owns 711,481 shares of the bank's stock valued at $44,517,000 after acquiring an additional 51,178 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Ameris Bancorp by 10.7% in the fourth quarter. Ameriprise Financial Inc. now owns 680,198 shares of the bank's stock worth $42,563,000 after acquiring an additional 65,855 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Ameris Bancorp by 189.7% in the 1st quarter. Jennison Associates LLC now owns 502,690 shares of the bank's stock valued at $28,940,000 after purchasing an additional 329,196 shares in the last quarter. Institutional investors own 91.64% of the company's stock.

Ameris Bancorp Trading Down 0.1%

ABCB traded down $0.04 during midday trading on Monday, hitting $69.93. 130,610 shares of the company were exchanged, compared to its average volume of 426,279. The firm's 50 day moving average price is $65.86 and its 200-day moving average price is $61.93. Ameris Bancorp has a 1-year low of $48.27 and a 1-year high of $74.56. The firm has a market capitalization of $4.80 billion, a P/E ratio of 13.43 and a beta of 0.96. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Monday, June 30th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Monday, June 30th. Ameris Bancorp's dividend payout ratio (DPR) is presently 14.08%.

Analyst Ratings Changes

ABCB has been the subject of several research reports. Raymond James Financial dropped their price objective on shares of Ameris Bancorp from $71.00 to $65.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. DA Davidson set a $81.00 price target on shares of Ameris Bancorp and gave the stock a "buy" rating in a report on Wednesday, July 30th. Finally, Stephens reissued an "equal weight" rating and set a $63.00 price objective on shares of Ameris Bancorp in a report on Tuesday, April 29th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $72.14.

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.