Advantage Alpha Capital Partners LP Grows Holdings in Ameris Bancorp (NASDAQ:ABCB)

Advantage Alpha Capital Partners LP lifted its position in shares of Ameris Bancorp (NASDAQ:ABCB) by 12.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,680 shares of the bank’s stock after acquiring an additional 1,093 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in Ameris Bancorp were worth $606,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Picton Mahoney Asset Management raised its holdings in Ameris Bancorp by 2,436.8% in the 4th quarter. Picton Mahoney Asset Management now owns 482 shares of the bank’s stock worth $30,000 after purchasing an additional 463 shares during the period. R Squared Ltd purchased a new position in shares of Ameris Bancorp during the 4th quarter valued at approximately $51,000. Blue Trust Inc. grew its stake in Ameris Bancorp by 56.1% in the 4th quarter. Blue Trust Inc. now owns 1,113 shares of the bank’s stock valued at $69,000 after acquiring an additional 400 shares during the period. GAMMA Investing LLC grew its stake in Ameris Bancorp by 17.9% in the 4th quarter. GAMMA Investing LLC now owns 1,332 shares of the bank’s stock valued at $83,000 after acquiring an additional 202 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in Ameris Bancorp by 167.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the bank’s stock worth $90,000 after acquiring an additional 896 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Ameris Bancorp Stock Up 2.8 %

ABCB stock opened at $59.41 on Tuesday. 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 $63.10 and a two-hundred day moving average of $63.97. 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 $4.10 billion, a price-to-earnings ratio of 11.40 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 is Monday, March 31st. This represents a $0.80 annualized dividend and a dividend yield of 1.35%. Ameris Bancorp’s dividend payout ratio is presently 15.36%.

Analyst Ratings Changes

Several brokerages have recently issued reports on ABCB. Keefe, Bruyette & Woods lifted their target price on shares of Ameris Bancorp from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. 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. Finally, Raymond James reiterated 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. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.50.

Insiders Place Their Bets

In related news, insider Douglas D. Strange purchased 1,000 shares of Ameris Bancorp stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average price of $56.95 per share, for a total transaction of $56,950.00. Following the acquisition, the insider now directly owns 19,403 shares in the company, valued at approximately $1,105,000.85. The trade was a 5.43 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.50% of the stock is currently owned by corporate insiders.

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.