Ameris Bancorp $ABCB Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG has reduced its holdings in Ameris Bancorp by 9.0%, now owning 51,616 shares valued at approximately $2.97 million.
• Several institutional investors have increased their stakes in Ameris Bancorp, with Jennison Associates LLC boosting its position by 189.7% to over 502,000 shares worth nearly $28.94 million.
• A quarterly dividend of $0.20 was recently paid, reflecting an annualized dividend of $0.80 and a yield of 1.1%.

Deutsche Bank AG decreased its stake in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 9.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 51,616 shares of the bank's stock after selling 5,122 shares during the period. Deutsche Bank AG owned 0.07% of Ameris Bancorp worth $2,972,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Captrust Financial Advisors increased its position in Ameris Bancorp by 4.6% during 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 during the last quarter. KBC Group NV increased its position in Ameris Bancorp by 8.8% during 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 during the last quarter. Xponance Inc. increased its position in Ameris Bancorp by 5.8% during the first quarter. Xponance Inc. now owns 5,001 shares of the bank's stock worth $288,000 after purchasing an additional 276 shares during the last quarter. HB Wealth Management LLC increased its position in Ameris Bancorp by 5.7% during 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 during the last quarter. Finally, Versant Capital Management Inc increased its position in Ameris Bancorp by 84.1% during 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 during the last quarter. Institutional investors and hedge funds own 91.64% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Stephens reissued an "equal weight" rating and issued a $63.00 price objective on shares of Ameris Bancorp in a research report on Tuesday, April 29th. DA Davidson set a $81.00 price objective on shares of Ameris Bancorp and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Finally, 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 report on Wednesday, April 30th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $72.14.

Ameris Bancorp Stock Down 0.2%

ABCB traded down $0.1650 during trading hours on Monday, reaching $71.8750. 316,190 shares of the stock traded hands, compared to its average volume of 427,897. The firm's fifty day simple moving average is $66.88 and its two-hundred day simple moving average is $62.08. The company has a market cap of $4.93 billion, a price-to-earnings ratio of 13.80 and a beta of 0.96. Ameris Bancorp has a fifty-two week low of $48.27 and a fifty-two week 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 declared 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. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Monday, June 30th. Ameris Bancorp's dividend payout ratio (DPR) is presently 14.08%.

Ameris Bancorp 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.