Ameris Bancorp $ABCB Shares Purchased by AlphaQuest LLC

Key Points

• AlphaQuest LLC increased its holdings in Ameris Bancorp by 42.7% during the 1st quarter, owning a total of 37,186 shares valued at approximately $2.14 million.
• Ameris Bancorp announced a quarterly dividend of $0.20 per share, resulting in an annualized dividend of $0.80 and a yield of 1.2%.
• Brokerages have provided mixed ratings for Ameris Bancorp, with an average rating of "Moderate Buy" and a consensus target price of $72.14.

AlphaQuest LLC increased its position in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 42.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,186 shares of the bank's stock after purchasing an additional 11,133 shares during the period. AlphaQuest LLC owned 0.05% of Ameris Bancorp worth $2,141,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Captrust Financial Advisors grew its stake in Ameris Bancorp by 4.6% in the fourth quarter. Captrust Financial Advisors now owns 3,975 shares of the bank's stock worth $249,000 after purchasing an additional 175 shares in the last quarter. KBC Group NV grew its stake in Ameris Bancorp by 8.8% in the first quarter. KBC Group NV now owns 3,251 shares of the bank's stock worth $187,000 after purchasing an additional 264 shares in the last quarter. Xponance Inc. grew its stake in Ameris Bancorp by 5.8% in the first quarter. Xponance Inc. now owns 5,001 shares of the bank's stock worth $288,000 after purchasing an additional 276 shares in the last quarter. HB Wealth Management LLC grew its stake in Ameris Bancorp by 5.7% in the first quarter. HB Wealth Management LLC now owns 5,941 shares of the bank's stock worth $342,000 after purchasing an additional 319 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in Ameris Bancorp by 84.1% in the first quarter. Versant Capital Management Inc now owns 731 shares of the bank's stock worth $42,000 after purchasing an additional 334 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Ameris Bancorp Price Performance

NASDAQ:ABCB traded down $0.1650 during midday trading on Monday, hitting $71.8750. 316,190 shares of the stock were exchanged, compared to its average volume of 427,897. Ameris Bancorp has a one year low of $48.27 and a one year high of $74.56. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 13.80 and a beta of 0.96. The business has a 50-day moving average price of $66.65 and a two-hundred day moving average price of $62.05. 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 announced a quarterly dividend, which was paid on Monday, July 7th. Investors of record on Monday, June 30th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.80 annualized dividend and a yield of 1.1%. Ameris Bancorp's payout ratio is presently 14.08%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ABCB. Stephens reiterated an "equal weight" rating and issued a $63.00 price target on shares of Ameris Bancorp in a research note on Tuesday, April 29th. DA Davidson set a $81.00 target price on shares of Ameris Bancorp and gave the stock a "buy" rating in a report on Wednesday, July 30th. Finally, Raymond James Financial cut their price target on Ameris Bancorp from $71.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Ameris Bancorp presently 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.