AlphaQuest LLC Grows Stock Holdings in Ameris Bancorp (NASDAQ:ABCB)

AlphaQuest LLC raised its position in shares of Ameris Bancorp (NASDAQ:ABCB) by 177.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,053 shares of the bank’s stock after purchasing an additional 16,662 shares during the period. AlphaQuest LLC’s holdings in Ameris Bancorp were worth $1,630,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in Ameris Bancorp during the fourth quarter valued at about $51,000. Blue Trust Inc. raised its position in Ameris Bancorp by 56.1% during the fourth quarter. Blue Trust Inc. now owns 1,113 shares of the bank’s stock valued at $69,000 after purchasing an additional 400 shares in the last quarter. GAMMA Investing LLC raised its position in Ameris Bancorp by 17.9% during 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. Smartleaf Asset Management LLC raised its position in Ameris Bancorp by 167.5% during 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 in the last quarter. Finally, USA Financial Formulas purchased a new position in shares of Ameris Bancorp in the fourth quarter worth about $98,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Ameris Bancorp Stock Down 1.1 %

NASDAQ ABCB opened at $58.91 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. The stock has a market capitalization of $4.07 billion, a PE ratio of 11.31 and a beta of 1.02. Ameris Bancorp has a 1 year low of $44.22 and a 1 year high of $74.56. The business’s 50-day moving average is $64.02 and its 200 day moving average is $64.21.

Ameris Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Tuesday, December 31st were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from Ameris Bancorp’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a dividend yield of 1.36%. Ameris Bancorp’s dividend payout ratio (DPR) is presently 15.36%.

Analysts Set New Price Targets

Several research analysts have recently commented on ABCB shares. Stephens reiterated an “equal weight” rating and issued a $71.00 price objective on shares of Ameris Bancorp in a report on Friday, January 31st. Raymond James reiterated 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. Finally, Keefe, Bruyette & Woods lifted their price objective on Ameris Bancorp from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.50.

Ameris Bancorp 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.