KLP Kapitalforvaltning AS Makes New $867,000 Investment in Ameris Bancorp (NASDAQ:ABCB)

KLP Kapitalforvaltning AS bought a new position in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 13,820 shares of the bank's stock, valued at approximately $867,000.

A number of other large investors have also modified their holdings of the business. Picton Mahoney Asset Management boosted its position in Ameris Bancorp by 2,436.8% during the fourth quarter. Picton Mahoney Asset Management now owns 482 shares of the bank's stock worth $30,000 after acquiring an additional 463 shares during the last quarter. R Squared Ltd purchased a new position in Ameris Bancorp in the 4th quarter worth approximately $51,000. Blue Trust Inc. boosted its holdings in shares of Ameris Bancorp by 56.1% during the 4th quarter. Blue Trust Inc. now owns 1,113 shares of the bank's stock worth $69,000 after purchasing an additional 400 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Ameris Bancorp by 17.9% in the fourth quarter. GAMMA Investing LLC now owns 1,332 shares of the bank's stock valued at $83,000 after purchasing an additional 202 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Ameris Bancorp by 167.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the bank's stock valued at $90,000 after purchasing an additional 896 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company's stock.

Ameris Bancorp Trading Down 2.7 %

Shares of Ameris Bancorp stock traded down $1.42 during trading hours on Friday, hitting $50.64. The company's stock had a trading volume of 730,445 shares, compared to its average volume of 375,750. The firm has a fifty day moving average of $61.70 and a 200-day moving average of $63.71. 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 stock has a market cap of $3.50 billion, a price-to-earnings ratio of 9.72 and a beta of 1.02. Ameris Bancorp has a twelve month low of $44.23 and a twelve month high of $74.56.

Ameris Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Monday, March 31st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.58%. Ameris Bancorp's payout ratio is currently 15.36%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ABCB. Stephens reissued an "equal weight" rating and set a $71.00 price objective on shares of Ameris Bancorp in a research note on Friday, January 31st. Piper Sandler initiated coverage on shares of Ameris Bancorp in a research report on Friday. They set an "overweight" rating and a $74.00 price target on the stock. Finally, Raymond James reissued an "outperform" rating and issued a $71.00 price objective (up previously from $67.00) on shares of Ameris Bancorp in a report on Monday, February 3rd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $73.33.

Insider Buying and Selling

In other news, insider Douglas D. Strange bought 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average price of $56.95 per share, with a total value of $56,950.00. Following the purchase, the insider now owns 19,403 shares in the company, valued at approximately $1,105,000.85. The trade was a 5.43 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 5.50% of the stock is currently owned by corporate insiders.

Ameris Bancorp Company 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.