Ameris Bancorp (NASDAQ:ABCB) Shares Purchased by Prospector Partners LLC

Prospector Partners LLC increased its holdings in Ameris Bancorp (NASDAQ:ABCB) by 1.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 220,482 shares of the bank’s stock after purchasing an additional 3,067 shares during the quarter. Ameris Bancorp comprises about 1.5% of Prospector Partners LLC’s portfolio, making the stock its 26th biggest holding. Prospector Partners LLC’s holdings in Ameris Bancorp were worth $13,796,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of ABCB. Picton Mahoney Asset Management increased its position in shares of Ameris Bancorp by 2,436.8% in the fourth quarter. Picton Mahoney Asset Management now owns 482 shares of the bank’s stock worth $30,000 after acquiring an additional 463 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Ameris Bancorp in the fourth quarter worth $51,000. Blue Trust Inc. boosted its holdings in Ameris Bancorp by 56.1% during the fourth 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 increased its position in Ameris Bancorp by 17.9% in 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 period. Finally, Smartleaf Asset Management LLC raised 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 valued at $90,000 after purchasing an additional 896 shares during the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Ameris Bancorp Stock Performance

NASDAQ:ABCB opened at $50.64 on Friday. The company has a market capitalization of $3.50 billion, a PE ratio of 9.72 and a beta of 1.02. Ameris Bancorp has a fifty-two week low of $44.23 and a fifty-two week high of $74.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. The company has a 50 day simple moving average of $61.70 and a two-hundred day simple moving average of $63.71.

Ameris Bancorp Dividend Announcement

The company also recently announced 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 1.58%. The ex-dividend date of this dividend is Monday, March 31st. Ameris Bancorp’s dividend payout ratio is presently 15.36%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ABCB. Stephens reissued an “equal weight” rating and issued a $71.00 price target on shares of Ameris Bancorp in a research report on Friday, January 31st. Raymond James restated an “outperform” rating and issued a $71.00 price objective (up previously from $67.00) on shares of Ameris Bancorp in a research report on Monday, February 3rd. Finally, Piper Sandler started coverage on Ameris Bancorp in a research report on Friday. They set an “overweight” rating and a $74.00 target price for the company. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.33.

Insider Activity at Ameris Bancorp

In other Ameris Bancorp news, insider Douglas D. Strange acquired 1,000 shares of the stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average cost of $56.95 per share, with a total value of $56,950.00. Following the transaction, the insider now owns 19,403 shares in the company, valued at approximately $1,105,000.85. The trade was a 5.43 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 5.50% of the stock is owned by company insiders.

About Ameris Bancorp

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.