New York State Common Retirement Fund Lowers Stock Position in Ameris Bancorp (NASDAQ:ABCB)

New York State Common Retirement Fund trimmed its stake in Ameris Bancorp (NASDAQ:ABCB) by 8.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 232,113 shares of the bank’s stock after selling 22,196 shares during the period. New York State Common Retirement Fund owned about 0.34% of Ameris Bancorp worth $14,523,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. increased its holdings in Ameris Bancorp by 249.5% in the 3rd quarter. Blue Trust Inc. now owns 713 shares of the bank’s stock valued at $44,000 after purchasing an additional 509 shares during the last quarter. R Squared Ltd purchased a new position in shares of Ameris Bancorp during the fourth quarter worth $51,000. GAMMA Investing LLC grew its stake in shares of Ameris Bancorp by 17.9% in 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 in the last quarter. USA Financial Formulas purchased a new stake in shares of Ameris Bancorp in the 4th quarter valued at $98,000. Finally, Venturi Wealth Management LLC acquired a new position in Ameris Bancorp during the 4th quarter worth about $105,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Ameris Bancorp Trading Down 2.2 %

Shares of NASDAQ:ABCB opened at $63.39 on Monday. Ameris Bancorp has a 52 week low of $44.22 and a 52 week high of $74.56. The company’s 50 day moving average is $64.31 and its two-hundred day moving average is $63.89. The company has a market cap of $4.38 billion, a PE ratio of 12.17 and a beta of 1.06. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11.

Ameris Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Tuesday, December 31st were paid a $0.20 dividend. The ex-dividend date was Tuesday, December 31st. This is a boost from Ameris Bancorp’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a yield of 1.26%. Ameris Bancorp’s dividend payout ratio (DPR) 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.