Ameris Bancorp (NASDAQ:ABCB) Shares Sold by Independent Advisor Alliance

Independent Advisor Alliance trimmed its holdings in Ameris Bancorp (NASDAQ:ABCB) by 1.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,490,402 shares of the bank’s stock after selling 43,178 shares during the quarter. Ameris Bancorp comprises about 2.1% of Independent Advisor Alliance’s portfolio, making the stock its 4th biggest holding. Independent Advisor Alliance’s holdings in Ameris Bancorp were worth $155,824,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ABCB. R Squared Ltd purchased a new stake in Ameris Bancorp in the 4th quarter worth about $51,000. Blue Trust Inc. raised 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 buying an additional 400 shares in the last quarter. GAMMA Investing LLC lifted its holdings 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 purchasing an additional 202 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Ameris Bancorp by 167.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the bank’s stock worth $90,000 after buying an additional 896 shares during the period. Finally, USA Financial Formulas acquired a new stake in shares of Ameris Bancorp in the fourth quarter valued at about $98,000. 91.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Ameris Bancorp Stock Performance

NASDAQ:ABCB opened at $58.91 on Monday. Ameris Bancorp has a 1-year low of $44.22 and a 1-year high of $74.56. 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 stock has a market cap of $4.07 billion, a P/E ratio of 11.31 and a beta of 1.02. The stock has a 50 day simple moving average of $64.02 and a 200 day simple moving average of $64.25.

Ameris Bancorp Increases Dividend

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