Fox Run Management L.L.C. Lowers Holdings in Ameris Bancorp (NASDAQ:ABCB)

Fox Run Management L.L.C. reduced its stake in Ameris Bancorp (NASDAQ:ABCB) by 36.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,470 shares of the bank’s stock after selling 3,184 shares during the period. Fox Run Management L.L.C.’s holdings in Ameris Bancorp were worth $342,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ABCB. Picton Mahoney Asset Management grew its position in Ameris Bancorp by 2,436.8% during the 4th quarter. Picton Mahoney Asset Management now owns 482 shares of the bank’s stock valued at $30,000 after purchasing an additional 463 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Ameris Bancorp during the fourth quarter valued at approximately $51,000. Blue Trust Inc. increased its position in shares of 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 acquiring an additional 400 shares in the last quarter. GAMMA Investing LLC raised 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 acquiring an additional 202 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Ameris Bancorp by 167.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the bank’s stock valued at $90,000 after acquiring an additional 896 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors.

Insider Activity at Ameris Bancorp

In other Ameris Bancorp news, insider Douglas D. Strange purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average price of $56.95 per share, for a total transaction of $56,950.00. Following the purchase, the insider now directly owns 19,403 shares of the company’s stock, valued at $1,105,000.85. The trade was a 5.43 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

Ameris Bancorp Trading Down 0.1 %

Shares of NASDAQ:ABCB opened at $59.08 on Thursday. The stock’s 50-day simple moving average is $62.93 and its two-hundred day simple moving average is $63.93. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of 11.34 and a beta of 1.02. Ameris Bancorp has a 52-week low of $44.23 and a 52-week high of $74.56. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Monday, March 31st will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Monday, March 31st. Ameris Bancorp’s payout ratio is 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.