Ameris Bancorp $ABCB Shares Sold by Amundi

Key Points

• Amundi reduced its stake in Ameris Bancorp by 19.6%, now holding 27,001 shares valued at approximately $1.55 million.
• Institutional investors collectively own 91.64% of Ameris Bancorp, indicating strong institutional support for the company.
• DA Davidson set a target price of $81.00 for Ameris Bancorp, which currently holds an average rating of "Moderate Buy" from six investment analysts.

Amundi lowered its holdings in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 19.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,001 shares of the bank's stock after selling 6,578 shares during the quarter. Amundi's holdings in Ameris Bancorp were worth $1,554,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABCB. Bank of America Corp DE lifted its holdings in Ameris Bancorp by 4.1% during the fourth quarter. Bank of America Corp DE now owns 379,934 shares of the bank's stock valued at $23,772,000 after purchasing an additional 14,898 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Ameris Bancorp by 4.6% during the fourth quarter. Captrust Financial Advisors now owns 3,975 shares of the bank's stock valued at $249,000 after acquiring an additional 175 shares during the last quarter. Cetera Investment Advisers acquired a new stake in shares of Ameris Bancorp during the fourth quarter valued at about $213,000. Deutsche Bank AG increased its position in shares of Ameris Bancorp by 50.3% during the fourth quarter. Deutsche Bank AG now owns 56,738 shares of the bank's stock valued at $3,550,000 after acquiring an additional 18,980 shares during the last quarter. Finally, Ethic Inc. acquired a new position in shares of Ameris Bancorp in the fourth quarter valued at approximately $215,000. Institutional investors and hedge funds own 91.64% of the company's stock.

Ameris Bancorp Stock Performance

Shares of ABCB stock traded up $2.32 during mid-day trading on Thursday, hitting $76.47. The stock had a trading volume of 512,367 shares, compared to its average volume of 424,500. Ameris Bancorp has a fifty-two week low of $48.27 and a fifty-two week high of $76.58. The firm has a market cap of $5.24 billion, a PE ratio of 14.68 and a beta of 0.97. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. The company's 50-day simple moving average is $70.21 and its 200-day simple moving average is $63.20.

Ameris Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 6th. Stockholders of record on Tuesday, September 30th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 30th. Ameris Bancorp's dividend payout ratio (DPR) is currently 14.08%.

Wall Street Analyst Weigh In

Separately, 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. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $72.14.

Ameris Bancorp Company 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.