Independent Advisor Alliance Has $155.82 Million Stake in Ameris Bancorp (NASDAQ:ABCB)

Independent Advisor Alliance trimmed its position in Ameris Bancorp (NASDAQ:ABCB) by 1.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,490,402 shares of the bank’s stock after selling 43,178 shares during the quarter. Ameris Bancorp comprises approximately 2.1% of Independent Advisor Alliance’s holdings, making the stock its 4th biggest position. Independent Advisor Alliance owned about 3.61% of Ameris Bancorp worth $155,824,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ABCB. R Squared Ltd purchased a new stake in Ameris Bancorp in the fourth quarter worth $51,000. Blue Trust Inc. boosted its stake in Ameris Bancorp by 56.1% in the fourth quarter. Blue Trust Inc. now owns 1,113 shares of the bank’s stock valued at $69,000 after acquiring an additional 400 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Ameris Bancorp by 17.9% in the fourth quarter. GAMMA Investing LLC now owns 1,332 shares of the bank’s stock worth $83,000 after acquiring an additional 202 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Ameris Bancorp by 167.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the bank’s stock worth $90,000 after acquiring an additional 896 shares during the last quarter. Finally, USA Financial Formulas acquired a new stake in shares of Ameris Bancorp during the fourth quarter worth about $98,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ABCB shares. Stephens reaffirmed an “equal weight” rating and issued a $71.00 price objective on shares of Ameris Bancorp in a report on Friday, January 31st. Keefe, Bruyette & Woods increased their price target on Ameris Bancorp from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Raymond James reissued an “outperform” rating and set a $71.00 target price (up previously from $67.00) on shares of Ameris Bancorp in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $70.50.

Ameris Bancorp Price Performance

NASDAQ:ABCB opened at $58.91 on Monday. The company’s 50-day moving average is $64.02 and its two-hundred day moving average is $64.25. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 11.31 and a beta of 1.02. Ameris Bancorp has a 12-month low of $44.22 and a 12-month high of $74.56.

Ameris Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Tuesday, December 31st were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Tuesday, December 31st. This is a positive change from Ameris Bancorp’s previous quarterly dividend of $0.15. Ameris Bancorp’s dividend payout ratio (DPR) is 15.36%.

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.