Yousif Capital Management LLC Sells 512 Shares of Ameris Bancorp (NASDAQ:ABCB)

Yousif Capital Management LLC trimmed its stake in Ameris Bancorp (NASDAQ:ABCB) by 2.0% in the fourth quarter, Holdings Channel reports. The firm owned 24,573 shares of the bank’s stock after selling 512 shares during the quarter. Yousif Capital Management LLC’s holdings in Ameris Bancorp were worth $1,538,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ABCB. Principal Financial Group Inc. boosted its holdings in shares of Ameris Bancorp by 4.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,263,487 shares of the bank’s stock valued at $78,829,000 after buying an additional 55,473 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Ameris Bancorp by 9.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 907,140 shares of the bank’s stock worth $56,596,000 after acquiring an additional 79,060 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Ameris Bancorp by 1.4% in the third quarter. Victory Capital Management Inc. now owns 863,294 shares of the bank’s stock valued at $53,861,000 after acquiring an additional 12,054 shares during the last quarter. Congress Asset Management Co. grew its position in shares of Ameris Bancorp by 2.5% in the 3rd quarter. Congress Asset Management Co. now owns 809,338 shares of the bank’s stock valued at $50,495,000 after acquiring an additional 19,506 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Ameris Bancorp by 9.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 728,253 shares of the bank’s stock worth $45,436,000 after purchasing an additional 60,448 shares during the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Ameris Bancorp Stock Performance

NASDAQ:ABCB opened at $66.69 on Thursday. The stock has a 50 day simple moving average of $64.63 and a 200 day simple moving average of $63.47. The stock has a market cap of $4.61 billion, a P/E ratio of 12.80 and a beta of 1.06. Ameris Bancorp has a 1-year low of $44.22 and a 1-year high of $74.56. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Tuesday, December 31st were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Tuesday, December 31st. This is a boost from Ameris Bancorp’s previous quarterly dividend of $0.15. Ameris Bancorp’s payout ratio is presently 15.36%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Stephens reiterated an “equal weight” rating and issued a $71.00 target price on shares of Ameris Bancorp in a research note on Friday, January 31st. Raymond James reiterated an “outperform” rating and set a $71.00 target price (up from $67.00) on shares of Ameris Bancorp in a research note on Monday, February 3rd. StockNews.com upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Truist Financial reduced their price objective on shares of Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Ameris Bancorp from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Ameris Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $70.50.

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.