Fisher Asset Management LLC Acquires 13,917 Shares of Ameris Bancorp (NASDAQ:ABCB)

Fisher Asset Management LLC raised its holdings in shares of Ameris Bancorp (NASDAQ:ABCB) by 6.1% during the fourth quarter, HoldingsChannel reports. The fund owned 241,820 shares of the bank’s stock after purchasing an additional 13,917 shares during the quarter. Fisher Asset Management LLC’s holdings in Ameris Bancorp were worth $15,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Proficio Capital Partners LLC bought a new position in shares of Ameris Bancorp in the fourth quarter worth $1,585,000. Oppenheimer Asset Management Inc. increased its holdings in shares of Ameris Bancorp by 4.5% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 3,880 shares of the bank’s stock worth $243,000 after purchasing an additional 167 shares during the period. Illinois Municipal Retirement Fund increased its holdings in shares of Ameris Bancorp by 1.8% in the fourth quarter. Illinois Municipal Retirement Fund now owns 35,689 shares of the bank’s stock worth $2,233,000 after purchasing an additional 628 shares during the period. Ieq Capital LLC bought a new position in shares of Ameris Bancorp in the fourth quarter worth $496,000. Finally, Venturi Wealth Management LLC bought a new position in shares of Ameris Bancorp in the fourth quarter worth $105,000. Institutional investors own 91.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Raymond James reaffirmed an “outperform” rating and issued a $71.00 price target (up previously from $67.00) on shares of Ameris Bancorp in a report on Monday, February 3rd. Keefe, Bruyette & Woods upped their target price on shares of Ameris Bancorp from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Stephens reiterated an “equal weight” rating and issued a $71.00 target price on shares of Ameris Bancorp in a research report on Friday, January 31st. 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, the stock has an average rating of “Moderate Buy” and an average target price of $70.50.

Ameris Bancorp Stock Performance

NASDAQ ABCB opened at $63.95 on Tuesday. The company has a 50-day simple moving average of $64.30 and a two-hundred day simple moving average of $64.20. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. Ameris Bancorp has a 12-month low of $44.22 and a 12-month high of $74.56. The firm has a market cap of $4.42 billion, a price-to-earnings ratio of 12.27 and a beta of 1.06.

Ameris Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.25%. This is an increase from Ameris Bancorp’s previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, December 31st. Ameris Bancorp’s dividend payout ratio is 15.36%.

Ameris Bancorp Company 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.