Ameris Bancorp (NASDAQ:ABCB) Holdings Decreased by First Eagle Investment Management LLC

First Eagle Investment Management LLC trimmed its position in Ameris Bancorp (NASDAQ:ABCB) by 7.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 272,283 shares of the bank’s stock after selling 21,450 shares during the period. First Eagle Investment Management LLC’s holdings in Ameris Bancorp were worth $17,037,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in ABCB. R Squared Ltd bought a new position in Ameris Bancorp during the 4th quarter worth $51,000. Blue Trust Inc. grew its stake in Ameris Bancorp by 56.1% during the 4th quarter. Blue Trust Inc. now owns 1,113 shares of the bank’s stock worth $69,000 after buying an additional 400 shares during the last quarter. GAMMA Investing LLC grew its stake in Ameris Bancorp by 17.9% during the 4th quarter. GAMMA Investing LLC now owns 1,332 shares of the bank’s stock worth $83,000 after buying an additional 202 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Ameris Bancorp by 167.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the bank’s stock worth $90,000 after buying an additional 896 shares during the last quarter. Finally, USA Financial Formulas bought a new position in Ameris Bancorp during the 4th quarter worth $98,000. 91.64% of the stock is currently owned by institutional investors.

Ameris Bancorp Trading Down 1.6 %

Shares of ABCB stock opened at $55.57 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. Ameris Bancorp has a 1 year low of $44.22 and a 1 year high of $74.56. The stock has a fifty day moving average of $63.65 and a two-hundred day moving average of $64.14. The firm has a market capitalization of $3.84 billion, a PE ratio of 10.67 and a beta of 1.02.

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 issued a $0.20 dividend. This is a positive change from Ameris Bancorp’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.80 annualized dividend and a dividend yield of 1.44%. Ameris Bancorp’s dividend payout ratio is 15.36%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ABCB shares. Stephens restated an “equal weight” rating and set a $71.00 price objective on shares of Ameris Bancorp in a research note on Friday, January 31st. Raymond James reiterated 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. Finally, Keefe, Bruyette & Woods boosted their price target on Ameris Bancorp from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $70.50.

Insider Activity

In other news, insider Douglas D. Strange acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average price of $56.95 per share, for a total transaction of $56,950.00. Following the completion of the acquisition, the insider now directly owns 19,403 shares in the company, valued at $1,105,000.85. This represents a 5.43 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available 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.