Hsbc Holdings PLC Trims Stock Position 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 lowered its stake in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 20.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ABCB. First Trust Advisors LP grew its stake in shares of Ameris Bancorp by 1.4% in the fourth quarter. First Trust Advisors LP now owns 79,486 shares of the bank's stock worth $4,973,000 after acquiring an additional 1,071 shares during the last quarter. Stifel Financial Corp boosted its stake in Ameris Bancorp by 6.5% in the 4th quarter. Stifel Financial Corp now owns 22,487 shares of the bank's stock worth $1,407,000 after purchasing an additional 1,380 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Ameris Bancorp by 9.5% during 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 during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Ameris Bancorp during the 4th quarter valued at about $314,000. Finally, Tudor Investment Corp ET AL purchased a new position in Ameris Bancorp in the fourth quarter worth about $1,762,000. Hedge funds and other institutional investors own 91.64% of the company's stock.

Wall Street Analyst Weigh In

Separately, DA Davidson set a $81.00 price target on shares of Ameris Bancorp and gave the company 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 stock. According to data from MarketBeat, Ameris Bancorp presently has an average rating of "Moderate Buy" and a consensus target price of $72.14.

Ameris Bancorp Stock Performance

ABCB stock traded up $1.57 on Thursday, hitting $74.41. The company had a trading volume of 288,724 shares, compared to its average volume of 423,967. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. Ameris Bancorp has a 12-month low of $48.27 and a 12-month high of $74.56. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of 14.28 and a beta of 0.97. The stock's 50-day simple moving average is $68.72 and its 200 day simple moving average is $62.51.

About Ameris Bancorp

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.