Phocas Financial Corp. Sells 155,642 Shares of Ameris Bancorp (NASDAQ:ABCB)

Phocas Financial Corp. lowered its holdings in Ameris Bancorp (NASDAQ:ABCB) by 85.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,380 shares of the bank’s stock after selling 155,642 shares during the quarter. Ameris Bancorp accounts for about 1.3% of Phocas Financial Corp.’s investment portfolio, making the stock its 15th biggest position. Phocas Financial Corp.’s holdings in Ameris Bancorp were worth $1,713,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in Ameris Bancorp by 249.5% during 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 bought a new stake in Ameris Bancorp during the 4th quarter worth approximately $51,000. GAMMA Investing LLC raised 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 valued at $83,000 after purchasing an additional 202 shares during the last quarter. USA Financial Formulas acquired a new position in Ameris Bancorp in the fourth quarter worth $98,000. Finally, Venturi Wealth Management LLC bought a new position in shares of Ameris Bancorp in the fourth quarter valued at about $105,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

Ameris Bancorp Price Performance

Shares of NASDAQ:ABCB opened at $63.28 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. Ameris Bancorp has a 52 week low of $44.22 and a 52 week high of $74.56. The firm has a market cap of $4.37 billion, a PE ratio of 12.15 and a beta of 1.06. The firm’s fifty day moving average is $64.20 and its 200-day moving average is $63.99.

Ameris Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.20 per share. This is a positive change from Ameris Bancorp’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.80 annualized dividend and a yield of 1.26%. Ameris Bancorp’s dividend payout ratio (DPR) is presently 15.36%.

Analyst Ratings Changes

ABCB has been the topic of a number of research reports. Stephens reiterated an “equal weight” rating and set a $71.00 target price on shares of Ameris Bancorp in a research report on Friday, January 31st. Keefe, Bruyette & Woods boosted their target price on Ameris Bancorp from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Raymond James reiterated an “outperform” rating and issued a $71.00 price objective (up from $67.00) on shares of Ameris Bancorp in a research report on Monday, February 3rd. Finally, StockNews.com upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.50.

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.