Xponance Inc. Buys 415 Shares of Ameris Bancorp (NASDAQ:ABCB)

Xponance Inc. increased its stake in shares of Ameris Bancorp (NASDAQ:ABCB) by 9.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,725 shares of the bank’s stock after purchasing an additional 415 shares during the quarter. Xponance Inc.’s holdings in Ameris Bancorp were worth $296,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Picton Mahoney Asset Management increased its position in Ameris Bancorp by 2,436.8% during the fourth quarter. Picton Mahoney Asset Management now owns 482 shares of the bank’s stock valued at $30,000 after acquiring an additional 463 shares during the last quarter. R Squared Ltd bought a new position in Ameris Bancorp during the 4th quarter valued at about $51,000. Blue Trust Inc. raised its position 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 purchasing an additional 400 shares during the period. GAMMA Investing LLC boosted its position in shares of 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 buying an additional 202 shares during the period. Finally, Smartleaf Asset Management LLC grew its stake in shares of 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 buying an additional 896 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Insider Activity at Ameris Bancorp

In related news, insider Douglas D. Strange bought 1,000 shares of the company’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 transaction, the insider now owns 19,403 shares of the company’s stock, valued at $1,105,000.85. The trade was a 5.43 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ABCB shares. Stephens restated an “equal weight” rating and set a $71.00 price objective on shares of Ameris Bancorp in a report on Friday, January 31st. Keefe, Bruyette & Woods boosted 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. Finally, Raymond James reaffirmed an “outperform” rating and issued a $71.00 price target (up previously 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. Based on data from MarketBeat, Ameris Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $70.50.

Ameris Bancorp Stock Down 0.9 %

NASDAQ:ABCB opened at $58.40 on Friday. 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 firm has a market cap of $4.03 billion, a PE ratio of 11.21 and a beta of 1.02. The company has a 50-day moving average of $62.83 and a 200 day moving average of $63.89. Ameris Bancorp has a 1-year low of $44.23 and a 1-year high of $74.56.

Ameris Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Monday, March 31st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.37%. The ex-dividend date is Monday, March 31st. Ameris Bancorp’s payout ratio is 15.36%.

Ameris Bancorp Company 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.