Harbor Capital Advisors Inc. Has $2.81 Million Stock Holdings in Ameris Bancorp $ABCB

Key Points

• Harbor Capital Advisors Inc. significantly increased its holdings in Ameris Bancorp to $2.81 million, marking a 16,516.1% rise during the 2nd quarter with a total of 43,368 shares.
• The company's latest quarterly dividend of $0.20 will be paid on October 6th, representing an annual yield of 1.1% with a dividend payout ratio of 14.08%.
• Ameris Bancorp has a market cap of $5.08 billion and a recent stock price of $74.10, situating it between a 12-month low of $48.27 and a high of $75.98.

Harbor Capital Advisors Inc. raised its stake in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 16,516.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,368 shares of the bank's stock after purchasing an additional 43,107 shares during the period. Harbor Capital Advisors Inc. owned 0.06% of Ameris Bancorp worth $2,806,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Central Pacific Bank Trust Division purchased a new position in Ameris Bancorp during the second quarter worth about $190,000. Strs Ohio acquired a new position in Ameris Bancorp during the 1st quarter worth approximately $1,146,000. Mendon Capital Advisors Corp acquired a new position in shares of Ameris Bancorp in the 1st quarter valued at $720,000. Intech Investment Management LLC boosted its holdings in shares of Ameris Bancorp by 55.6% in the 1st quarter. Intech Investment Management LLC now owns 62,656 shares of the bank's stock valued at $3,607,000 after buying an additional 22,377 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Ameris Bancorp in the 1st quarter valued at $10,528,000. Institutional investors and hedge funds own 91.64% of the company's stock.

Analyst Upgrades and Downgrades

Separately, DA Davidson set a $81.00 target price on shares of Ameris Bancorp and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Ameris Bancorp has a consensus rating of "Moderate Buy" and a consensus target price of $72.14.

Ameris Bancorp Price Performance

Shares of NASDAQ:ABCB traded down $0.60 during trading on Friday, reaching $75.81. The company had a trading volume of 1,225,337 shares, compared to its average volume of 428,940. Ameris Bancorp has a twelve month low of $48.27 and a twelve month high of $76.58. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. The firm has a market capitalization of $5.20 billion, a PE ratio of 14.55 and a beta of 0.97. The firm's fifty day moving average is $70.38 and its 200 day moving average is $63.30.

Ameris Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 6th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. Ameris Bancorp's dividend payout ratio is currently 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.