Edgestream Partners L.P. Invests $3.20 Million in Ameris Bancorp (NASDAQ:ABCB)

Edgestream Partners L.P. bought a new stake in shares of Ameris Bancorp (NASDAQ:ABCB) during the fourth quarter, Holdings Channel.com reports. The fund bought 51,206 shares of the bank’s stock, valued at approximately $3,204,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in Ameris Bancorp by 1.4% in the third quarter. Victory Capital Management Inc. now owns 863,294 shares of the bank’s stock worth $53,861,000 after buying an additional 12,054 shares during the period. Principal Financial Group Inc. raised its position in shares of Ameris Bancorp by 4.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,263,487 shares of the bank’s stock worth $78,829,000 after acquiring an additional 55,473 shares in the last quarter. Stifel Financial Corp lifted its stake in shares of Ameris Bancorp by 13.9% in the 3rd quarter. Stifel Financial Corp now owns 21,107 shares of the bank’s stock valued at $1,317,000 after purchasing an additional 2,575 shares during the period. Point72 Asset Management L.P. boosted its position in shares of Ameris Bancorp by 135.5% during the third quarter. Point72 Asset Management L.P. now owns 115,194 shares of the bank’s stock valued at $7,187,000 after purchasing an additional 66,287 shares in the last quarter. Finally, Citigroup Inc. grew its stake in Ameris Bancorp by 32.5% in the third quarter. Citigroup Inc. now owns 142,122 shares of the bank’s stock worth $8,867,000 after purchasing an additional 34,881 shares during the period. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Analyst Upgrades and Downgrades

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

Ameris Bancorp Stock Performance

Shares of Ameris Bancorp stock opened at $58.91 on Friday. Ameris Bancorp has a 1 year low of $44.22 and a 1 year high of $74.56. The firm’s 50-day moving average is $64.02 and its 200 day moving average is $64.21. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of 11.31 and a beta of 1.02. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00.

Ameris Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Tuesday, December 31st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from Ameris Bancorp’s previous quarterly dividend of $0.15. Ameris Bancorp’s dividend payout ratio is currently 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.