State of Alaska Department of Revenue Sells 220 Shares of Ameris Bancorp (NASDAQ:ABCB)

State of Alaska Department of Revenue decreased its position in Ameris Bancorp (NASDAQ:ABCB) by 0.6% during the 4th quarter, Holdings Channel reports. The firm owned 36,691 shares of the bank’s stock after selling 220 shares during the period. State of Alaska Department of Revenue’s holdings in Ameris Bancorp were worth $2,295,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in shares of Ameris Bancorp by 249.5% in the third quarter. Blue Trust Inc. now owns 713 shares of the bank’s stock worth $44,000 after purchasing an additional 509 shares during the last quarter. R Squared Ltd bought a new position in shares of Ameris Bancorp in the fourth quarter worth approximately $51,000. GAMMA Investing LLC grew its holdings in shares of Ameris Bancorp by 38.0% in the third quarter. GAMMA Investing LLC now owns 1,130 shares of the bank’s stock worth $71,000 after purchasing an additional 311 shares during the last quarter. USA Financial Formulas bought a new position in shares of Ameris Bancorp in the fourth quarter worth approximately $98,000. Finally, US Bancorp DE grew its holdings in shares of Ameris Bancorp by 3,396.4% in the third quarter. US Bancorp DE now owns 1,923 shares of the bank’s stock worth $120,000 after purchasing an additional 1,868 shares during the last quarter. Institutional investors own 91.64% of the company’s stock.

Ameris Bancorp Stock Performance

Shares of Ameris Bancorp stock opened at $67.38 on Tuesday. The business has a fifty day simple moving average of $64.69 and a two-hundred day simple moving average of $63.41. 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 market capitalization of $4.65 billion, a P/E ratio of 12.93 and a beta of 1.06. Ameris Bancorp has a 12 month low of $44.22 and a 12 month high of $74.56.

Ameris Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Tuesday, December 31st were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from Ameris Bancorp’s previous quarterly dividend of $0.15. Ameris Bancorp’s payout ratio is currently 15.36%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ABCB shares. StockNews.com upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Stephens reiterated 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 reiterated an “outperform” rating and issued a $71.00 price target (up previously from $67.00) on shares of Ameris Bancorp in a report on Monday, February 3rd. Keefe, Bruyette & Woods lifted their price target on shares of Ameris Bancorp from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Truist Financial lowered their price objective on Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.50.

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.