Amundi Has $2.06 Million Position in Ameris Bancorp (NASDAQ:ABCB)

Amundi raised its position in Ameris Bancorp (NASDAQ:ABCB) by 188.9% in the 4th quarter, Holdings Channel reports. The firm owned 33,579 shares of the bank’s stock after buying an additional 21,957 shares during the period. Amundi’s holdings in Ameris Bancorp were worth $2,055,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ABCB. Jennison Associates LLC bought a new stake in shares of Ameris Bancorp in the 4th quarter valued at $10,856,000. Charles Schwab Investment Management Inc. grew its stake in Ameris Bancorp by 9.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 907,140 shares of the bank’s stock valued at $56,596,000 after acquiring an additional 79,060 shares during the period. Barclays PLC increased its holdings in shares of Ameris Bancorp by 107.7% in the third quarter. Barclays PLC now owns 140,001 shares of the bank’s stock worth $8,735,000 after acquiring an additional 72,599 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Ameris Bancorp by 135.5% during the third quarter. Point72 Asset Management L.P. now owns 115,194 shares of the bank’s stock worth $7,187,000 after purchasing an additional 66,287 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Ameris Bancorp by 2,768.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 68,384 shares of the bank’s stock valued at $4,292,000 after purchasing an additional 66,000 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Douglas D. Strange purchased 1,000 shares of the stock in a transaction 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 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.50% of the company’s stock.

Ameris Bancorp Price Performance

NASDAQ ABCB opened at $57.87 on Tuesday. The firm’s 50 day moving average is $63.37 and its 200-day moving average is $64.08. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $4.00 billion, a PE ratio of 11.11 and a beta of 1.02. Ameris Bancorp has a 12-month low of $44.23 and a 12-month high of $74.56.

Ameris Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Tuesday, December 31st were paid a $0.20 dividend. This is a positive change from Ameris Bancorp’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Tuesday, December 31st. Ameris Bancorp’s payout ratio is presently 15.36%.

Analyst Ratings Changes

A number of research firms recently issued reports on ABCB. Raymond James reissued 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. Stephens reissued an “equal weight” rating and set a $71.00 price objective on shares of Ameris Bancorp in a research report on Friday, January 31st. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Ameris Bancorp from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Ameris Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $70.50.

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.