Xponance Inc. Boosts Stake in Ameris Bancorp (NASDAQ:ABCB)

Xponance Inc. boosted its stake in shares of Ameris Bancorp (NASDAQ:ABCB) by 9.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,725 shares of the bank’s stock after purchasing an additional 415 shares during the period. Xponance Inc.’s holdings in Ameris Bancorp were worth $296,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Intech Investment Management LLC raised its stake in shares of Ameris Bancorp by 158.2% in the fourth quarter. Intech Investment Management LLC now owns 40,279 shares of the bank’s stock worth $2,520,000 after buying an additional 24,680 shares during the period. Thrivent Financial for Lutherans increased its holdings in Ameris Bancorp by 28.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 80,654 shares of the bank’s stock worth $5,047,000 after acquiring an additional 18,088 shares in the last quarter. William Blair Investment Management LLC increased its holdings in Ameris Bancorp by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 789,271 shares of the bank’s stock worth $49,385,000 after acquiring an additional 19,150 shares in the last quarter. Cibc World Markets Corp bought a new stake in Ameris Bancorp during the 4th quarter worth approximately $385,000. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in Ameris Bancorp by 4.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,174 shares of the bank’s stock valued at $324,000 after purchasing an additional 238 shares in the last quarter. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Ameris Bancorp news, insider Douglas D. Strange purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average price of $56.95 per share, with a total value of $56,950.00. Following the completion of the purchase, the insider now directly owns 19,403 shares in the company, valued at $1,105,000.85. This trade represents a 5.43 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 5.50% of the company’s stock.

Ameris Bancorp Trading Down 0.9 %

Shares of Ameris Bancorp stock opened at $58.40 on Friday. Ameris Bancorp has a twelve month low of $44.23 and a twelve month high of $74.56. 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 business has a 50-day moving average price of $62.83 and a 200-day moving average price of $63.89. The firm has a market cap of $4.03 billion, a price-to-earnings ratio of 11.21 and a beta of 1.02.

Ameris Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.80 annualized dividend and a dividend yield of 1.37%. Ameris Bancorp’s dividend payout ratio (DPR) is 15.36%.

Analysts Set New Price Targets

ABCB has been the topic of several recent analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of Ameris Bancorp from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Raymond James reissued an “outperform” rating and set a $71.00 price target (up from $67.00) on shares of Ameris Bancorp in a report on Monday, February 3rd. Finally, Stephens reaffirmed an “equal weight” rating and issued a $71.00 price objective on shares of Ameris Bancorp in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.