Raymond James Financial Inc. Makes New Investment in Ameris Bancorp (NASDAQ:ABCB)

Raymond James Financial Inc. bought a new stake in shares of Ameris Bancorp (NASDAQ:ABCB) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 32,219 shares of the bank’s stock, valued at approximately $2,016,000.

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

Insiders Place Their Bets

In other news, insider Douglas D. Strange acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average cost of $56.95 per share, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 5.50% of the stock is currently owned by corporate insiders.

Ameris Bancorp Stock Down 2.1 %

ABCB stock opened at $57.13 on Monday. 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 50-day moving average of $62.67 and a two-hundred day moving average of $63.94. Ameris Bancorp has a 12 month low of $44.23 and a 12 month high of $74.56. The company has a market cap of $3.95 billion, a price-to-earnings ratio of 10.97 and a beta of 1.02.

Ameris Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Monday, March 31st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.80 annualized dividend and a dividend yield of 1.40%. Ameris Bancorp’s dividend payout ratio is presently 15.36%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Raymond James restated an “outperform” rating and set a $71.00 price target (up previously from $67.00) on shares of Ameris Bancorp in a research report on Monday, February 3rd. Keefe, Bruyette & Woods raised 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 reiterated an “equal weight” rating and set a $71.00 price target 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 given a buy rating to the company. According to data from MarketBeat.com, the stock currently 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.