Fox Run Management L.L.C. Sells 3,184 Shares of Ameris Bancorp (NASDAQ:ABCB)

Fox Run Management L.L.C. decreased its position in shares of Ameris Bancorp (NASDAQ:ABCB) by 36.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,470 shares of the bank’s stock after selling 3,184 shares during the period. Fox Run Management L.L.C.’s holdings in Ameris Bancorp were worth $342,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. raised its position in shares of Ameris Bancorp by 4.5% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 3,880 shares of the bank’s stock valued at $243,000 after purchasing an additional 167 shares during the period. GAMMA Investing LLC raised its holdings in Ameris Bancorp by 17.9% during the fourth 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. Envestnet Portfolio Solutions Inc. raised its holdings in Ameris Bancorp by 4.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,174 shares of the bank’s stock valued at $324,000 after acquiring an additional 238 shares during the period. Savant Capital LLC lifted its position in shares of Ameris Bancorp by 3.8% in the fourth quarter. Savant Capital LLC now owns 7,371 shares of the bank’s stock valued at $461,000 after acquiring an additional 267 shares in the last quarter. Finally, Atria Investments Inc boosted its stake in shares of Ameris Bancorp by 3.4% in the fourth quarter. Atria Investments Inc now owns 9,124 shares of the bank’s stock worth $571,000 after acquiring an additional 298 shares during the period. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Insiders Place Their Bets

In related news, insider Douglas D. Strange acquired 1,000 shares of the stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $56.95 per share, with a total value of $56,950.00. Following the purchase, the insider now directly owns 19,403 shares of the company’s stock, 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 SEC, which is available at this hyperlink. Corporate insiders own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

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

Ameris Bancorp Stock Down 0.1 %

Shares of ABCB opened at $59.08 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of 11.34 and a beta of 1.02. Ameris Bancorp has a 1 year low of $44.23 and a 1 year high of $74.56. The business’s 50 day simple moving average is $62.93 and its 200-day simple moving average is $63.93.

Ameris Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Monday, March 31st will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Monday, March 31st. Ameris Bancorp’s payout ratio is 15.36%.

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.