State of Alaska Department of Revenue Reduces Position in Ameris Bancorp (NASDAQ:ABCB)

State of Alaska Department of Revenue cut its holdings in shares of Ameris Bancorp (NASDAQ:ABCB) by 0.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,691 shares of the bank’s stock after selling 220 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.05% of Ameris Bancorp worth $2,295,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ABCB. Jennison Associates LLC purchased a new stake in Ameris Bancorp during the fourth quarter valued at about $10,856,000. Charles Schwab Investment Management Inc. lifted its holdings 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 valued at $56,596,000 after purchasing an additional 79,060 shares during the last quarter. Barclays PLC lifted its holdings in Ameris Bancorp by 107.7% during the third quarter. Barclays PLC now owns 140,001 shares of the bank’s stock valued at $8,735,000 after purchasing an additional 72,599 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in Ameris Bancorp by 135.5% during the third quarter. Point72 Asset Management L.P. now owns 115,194 shares of the bank’s stock valued at $7,187,000 after purchasing an additional 66,287 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Ameris Bancorp by 2,768.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 68,384 shares of the bank’s stock worth $4,292,000 after buying an additional 66,000 shares in the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.

Ameris Bancorp Trading Down 1.2 %

Shares of ABCB opened at $67.38 on Tuesday. Ameris Bancorp has a 1-year low of $44.22 and a 1-year 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’s 50 day simple moving average is $64.69 and its 200 day simple moving average is $63.41. The company has a market capitalization of $4.65 billion, a P/E ratio of 12.93 and a beta of 1.06.

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 given a dividend of $0.20 per share. This is a boost from Ameris Bancorp’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Tuesday, December 31st. Ameris Bancorp’s dividend payout ratio (DPR) is presently 15.36%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Truist Financial lowered their price target on shares of Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Keefe, Bruyette & Woods increased their price target 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. Stephens reissued an “equal weight” rating and issued a $71.00 price target on shares of Ameris Bancorp in a report on Friday, January 31st. StockNews.com raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Raymond James reissued an “outperform” rating and issued a $71.00 price target (up from $67.00) on shares of Ameris Bancorp in a report on Monday, February 3rd. Two equities research 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, the stock presently has an average rating of “Moderate Buy” and an average price target 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.