Picton Mahoney Asset Management Has $30,000 Holdings in Ameris Bancorp (NASDAQ:ABCB)

Picton Mahoney Asset Management raised its position in Ameris Bancorp (NASDAQ:ABCB) by 2,436.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 482 shares of the bank’s stock after acquiring an additional 463 shares during the period. Picton Mahoney Asset Management’s holdings in Ameris Bancorp were worth $30,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in ABCB. Jennison Associates LLC acquired a new stake in Ameris Bancorp in the fourth quarter valued at approximately $10,856,000. Charles Schwab Investment Management Inc. grew its stake in Ameris Bancorp by 9.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 907,140 shares of the bank’s stock valued at $56,596,000 after acquiring an additional 79,060 shares during the period. Barclays PLC grew its stake in Ameris Bancorp by 107.7% in the third quarter. Barclays PLC now owns 140,001 shares of the bank’s stock valued at $8,735,000 after acquiring an additional 72,599 shares during the period. Point72 Asset Management L.P. grew its stake in Ameris Bancorp by 135.5% in 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 period. Finally, Nisa Investment Advisors LLC grew its stake in Ameris Bancorp by 2,768.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 68,384 shares of the bank’s stock valued at $4,292,000 after acquiring an additional 66,000 shares during the period. Institutional investors and hedge funds own 91.64% of the company’s stock.

Analyst Upgrades and Downgrades

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

Ameris Bancorp Stock Up 0.9 %

ABCB stock opened at $57.87 on Tuesday. The stock’s fifty day simple moving average is $63.37 and its two-hundred day simple moving average is $64.08. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. Ameris Bancorp has a 1-year low of $44.23 and a 1-year high of $74.56. The stock has a market cap of $4.00 billion, a P/E ratio of 11.11 and a beta of 1.02.

Ameris Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Tuesday, December 31st were given a $0.20 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.80 annualized dividend and a yield of 1.38%. This is a boost from Ameris Bancorp’s previous quarterly dividend of $0.15. Ameris Bancorp’s payout ratio is currently 15.36%.

Insiders Place Their Bets

In other Ameris Bancorp news, insider Douglas D. Strange acquired 1,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were acquired at an average price of $56.95 per share, with a total value of $56,950.00. Following the completion of the transaction, the insider now owns 19,403 shares in the company, valued at approximately $1,105,000.85. This trade represents a 5.43 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 5.50% of the company’s stock.

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.