Hsbc Holdings PLC Lowers Stake in Ameris Bancorp $ABCB

Key Points

• Hsbc Holdings PLC has reduced its holdings in Ameris Bancorp by 20.6%, now owning 21,270 shares worth approximately $1.22 million.
• A number of hedge funds have adjusted their positions in Ameris Bancorp, with Meeder Asset Management increasing its stake by 1,120.2%.
• Ameris Bancorp recently announced a quarterly dividend of $0.20 per share, resulting in an annualized dividend yield of 1.1%.

Hsbc Holdings PLC lessened its holdings in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 20.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,270 shares of the bank's stock after selling 5,513 shares during the period. Hsbc Holdings PLC's holdings in Ameris Bancorp were worth $1,219,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Trust Advisors LP raised its holdings in shares of Ameris Bancorp by 1.4% in the 4th quarter. First Trust Advisors LP now owns 79,486 shares of the bank's stock valued at $4,973,000 after purchasing an additional 1,071 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Ameris Bancorp by 6.5% in the 4th quarter. Stifel Financial Corp now owns 22,487 shares of the bank's stock valued at $1,407,000 after purchasing an additional 1,380 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Ameris Bancorp by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 52,853 shares of the bank's stock valued at $3,308,000 after purchasing an additional 4,592 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Ameris Bancorp in the 4th quarter valued at $314,000. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of Ameris Bancorp in the 4th quarter valued at $1,762,000. Hedge funds and other institutional investors own 91.64% of the company's stock.

Ameris Bancorp Stock Down 0.1%

Shares of NASDAQ ABCB traded down $0.07 during mid-day trading on Wednesday, reaching $72.58. The company had a trading volume of 94,269 shares, compared to its average volume of 423,775. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The firm has a 50 day simple moving average of $68.33 and a two-hundred day simple moving average of $62.38. The stock has a market cap of $4.98 billion, a P/E ratio of 13.93 and a beta of 0.97. Ameris Bancorp has a 52-week low of $48.27 and a 52-week high of $74.56.

Ameris Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 7th. Investors of record on Monday, June 30th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, June 30th. Ameris Bancorp's dividend payout ratio (DPR) is 14.08%.

Analyst Upgrades and Downgrades

Separately, DA Davidson set a $81.00 price objective on shares of Ameris Bancorp and gave the company a "buy" rating in a report on Wednesday, July 30th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Ameris Bancorp has an average rating of "Moderate Buy" and an average price target of $72.14.

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.