Fox Run Management L.L.C. Increases Holdings in Ameris Bancorp $ABCB

Key Points

• Fox Run Management L.L.C. increased its stake in Ameris Bancorp by 110.5%, acquiring an additional 6,047 shares during the first quarter, totaling 11,517 shares valued at approximately $663,000.
• Ameris Bancorp recently declared a quarterly dividend of $0.20 per share, with a 1.1% dividend yield and an annualized payout of $0.80.
• Analysts have set a consensus target price of $72.14 for Ameris Bancorp, with two hold ratings and six buy ratings on the stock.

Fox Run Management L.L.C. boosted its position in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 110.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,517 shares of the bank's stock after acquiring an additional 6,047 shares during the period. Fox Run Management L.L.C.'s holdings in Ameris Bancorp were worth $663,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nuveen LLC purchased a new position in shares of Ameris Bancorp during the first quarter valued at approximately $56,202,000. Jennison Associates LLC increased its position in Ameris Bancorp by 189.7% during 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 during the period. North Reef Capital Management LP raised its holdings in 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 worth $158,490,000 after purchasing an additional 208,000 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Ameris Bancorp by 150.3% in the 4th quarter. Point72 Asset Management L.P. now owns 288,300 shares of the bank's stock worth $18,039,000 after purchasing an additional 173,106 shares during the period. Finally, Emerald Advisers LLC bought a new stake in shares of Ameris Bancorp during the 1st quarter valued at about $7,833,000. 91.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ABCB has been the subject of a number of research reports. DA Davidson set a $81.00 price target on shares of Ameris Bancorp and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Stephens restated an "equal weight" rating and issued a $63.00 target price on shares of Ameris Bancorp in a research note on Tuesday, April 29th. Finally, Raymond James Financial dropped their price target on Ameris Bancorp from $71.00 to $65.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $72.14.

Ameris Bancorp Stock Up 4.7%

Shares of NASDAQ ABCB traded up $3.2460 during midday trading on Friday, hitting $72.3360. The stock had a trading volume of 156,589 shares, compared to its average volume of 424,263. The business's 50 day moving average is $66.43 and its 200-day moving average is $62.10. Ameris Bancorp has a 52 week low of $48.27 and a 52 week high of $74.56. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The company has a market cap of $4.96 billion, a P/E ratio of 13.88 and a beta of 0.96.

Ameris Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Monday, June 30th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. 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.