Edgestream Partners L.P. Takes $3.20 Million Position in Ameris Bancorp (NASDAQ:ABCB)

Edgestream Partners L.P. bought a new position in Ameris Bancorp (NASDAQ:ABCB) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 51,206 shares of the bank’s stock, valued at approximately $3,204,000. Edgestream Partners L.P. owned approximately 0.07% of Ameris Bancorp as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its holdings in shares of Ameris Bancorp by 1.4% in the 3rd quarter. Victory Capital Management Inc. now owns 863,294 shares of the bank’s stock worth $53,861,000 after purchasing an additional 12,054 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Ameris Bancorp by 4.6% in the third quarter. Principal Financial Group Inc. now owns 1,263,487 shares of the bank’s stock worth $78,829,000 after buying an additional 55,473 shares in the last quarter. Stifel Financial Corp boosted its stake in Ameris Bancorp by 13.9% in the third quarter. Stifel Financial Corp now owns 21,107 shares of the bank’s stock worth $1,317,000 after buying an additional 2,575 shares in the last quarter. Point72 Asset Management L.P. grew its position 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 acquiring an additional 66,287 shares during the last quarter. Finally, Citigroup Inc. raised its stake in shares of Ameris Bancorp by 32.5% during the third quarter. Citigroup Inc. now owns 142,122 shares of the bank’s stock worth $8,867,000 after acquiring an additional 34,881 shares in the last quarter. Institutional investors own 91.64% of the company’s stock.

Ameris Bancorp Price Performance

Shares of Ameris Bancorp stock opened at $58.91 on Friday. The company’s fifty day simple moving average is $64.02 and its two-hundred day simple moving average is $64.21. 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 $4.07 billion, a PE ratio of 11.31 and a beta of 1.02. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Tuesday, December 31st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.36%. 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 payout ratio is currently 15.36%.

Wall Street Analysts Forecast Growth

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