New Age Alpha Advisors LLC acquired a new stake in Ameris Bancorp (NASDAQ:ABCB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 9,490 shares of the bank's stock, valued at approximately $594,000.
A number of other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in Ameris Bancorp by 4.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,263,487 shares of the bank's stock valued at $78,829,000 after purchasing an additional 55,473 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Ameris Bancorp by 30.7% during the fourth quarter. JPMorgan Chase & Co. now owns 952,058 shares of the bank's stock valued at $59,570,000 after acquiring an additional 223,805 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Ameris Bancorp by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 917,396 shares of the bank's stock worth $57,401,000 after acquiring an additional 10,256 shares during the last quarter. Congress Asset Management Co. lifted its stake in shares of Ameris Bancorp by 1.5% in the fourth quarter. Congress Asset Management Co. now owns 821,554 shares of the bank's stock worth $51,405,000 after acquiring an additional 12,216 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in Ameris Bancorp by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 789,271 shares of the bank's stock valued at $49,385,000 after purchasing an additional 19,150 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company's stock.
Ameris Bancorp Stock Performance
Shares of ABCB stock traded down $1.42 on Friday, hitting $50.64. 730,445 shares of the stock traded hands, compared to its average volume of 375,750. The company's fifty day moving average is $61.70 and its 200 day moving average is $63.71. Ameris Bancorp has a 1-year low of $44.23 and a 1-year high of $74.56. The company has a market capitalization of $3.50 billion, a PE ratio of 9.72 and a beta of 1.02. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00.
Ameris Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Monday, March 31st will be issued 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 dividend payout ratio (DPR) is 15.36%.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on ABCB. Raymond James reaffirmed an "outperform" rating and issued a $71.00 target price (up from $67.00) on shares of Ameris Bancorp in a research report on Monday, February 3rd. Stephens reaffirmed an "equal weight" rating and issued a $71.00 price target on shares of Ameris Bancorp in a report on Friday, January 31st. Finally, Piper Sandler assumed coverage on shares of Ameris Bancorp in a research note on Friday. They set an "overweight" rating and a $74.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Ameris Bancorp has an average rating of "Moderate Buy" and a consensus price target of $73.33.
View Our Latest Report on ABCB
Insider Transactions at Ameris Bancorp
In related news, insider Douglas D. Strange acquired 1,000 shares of Ameris Bancorp stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $56.95 per share, for a total transaction of $56,950.00. Following the transaction, the insider now directly owns 19,403 shares of the company's stock, valued at $1,105,000.85. This trade represents a 5.43 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.50% of the company's stock.
About Ameris Bancorp
(
Free Report)
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.
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