Ameris Bancorp (NASDAQ:ABCB) Stock Holdings Lowered by Hudson Edge Investment Partners Inc.

Hudson Edge Investment Partners Inc. cut its position in Ameris Bancorp (NASDAQ:ABCB) by 36.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,597 shares of the bank’s stock after selling 3,158 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in Ameris Bancorp were worth $350,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. raised its holdings in shares of Ameris Bancorp by 1.4% during the third quarter. Victory Capital Management Inc. now owns 863,294 shares of the bank’s stock valued at $53,861,000 after buying an additional 12,054 shares during the last quarter. Principal Financial Group Inc. raised its stake 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 acquiring an additional 55,473 shares in the last quarter. Stifel Financial Corp raised its stake in Ameris Bancorp by 13.9% during the 3rd quarter. Stifel Financial Corp now owns 21,107 shares of the bank’s stock valued at $1,317,000 after acquiring an additional 2,575 shares in the last quarter. Point72 Asset Management L.P. boosted its position in Ameris Bancorp by 135.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 115,194 shares of the bank’s stock worth $7,187,000 after acquiring an additional 66,287 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Ameris Bancorp in the third quarter worth $233,000. 91.64% of the stock is owned by institutional investors and hedge funds.

Ameris Bancorp Stock Down 2.2 %

ABCB stock opened at $63.39 on Friday. The firm has a market cap of $4.38 billion, a PE ratio of 12.17 and a beta of 1.06. Ameris Bancorp has a 12 month low of $44.22 and a 12 month high of $74.56. 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 firm has a 50 day simple moving average of $64.31 and a 200 day simple moving average of $63.78.

Ameris Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from Ameris Bancorp’s previous quarterly dividend of $0.15. Ameris Bancorp’s dividend payout ratio is 15.36%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ABCB. Keefe, Bruyette & Woods lifted their price objective on shares of Ameris Bancorp from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Stephens restated an “equal weight” rating and set a $71.00 price target on shares of Ameris Bancorp in a research report on Friday, January 31st. Raymond James reiterated an “outperform” rating and issued a $71.00 price objective (up from $67.00) on shares of Ameris Bancorp in a report on Monday, February 3rd. StockNews.com raised Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Truist Financial decreased their price target on Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.