New Age Alpha Advisors LLC Makes New $594,000 Investment in Ameris Bancorp (NASDAQ:ABCB)

New Age Alpha Advisors LLC purchased a new stake in shares of Ameris Bancorp (NASDAQ:ABCB) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,490 shares of the bank’s stock, valued at approximately $594,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Principal Financial Group Inc. increased its stake in Ameris Bancorp by 4.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,263,487 shares of the bank’s stock valued at $78,829,000 after buying an additional 55,473 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Ameris Bancorp by 30.7% during the fourth quarter. JPMorgan Chase & Co. now owns 952,058 shares of the bank’s stock valued at $59,570,000 after acquiring an additional 223,805 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Ameris Bancorp by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 917,396 shares of the bank’s stock worth $57,401,000 after purchasing an additional 10,256 shares in the last quarter. Congress Asset Management Co. lifted its position in Ameris Bancorp by 1.5% in the fourth quarter. Congress Asset Management Co. now owns 821,554 shares of the bank’s stock worth $51,405,000 after purchasing an additional 12,216 shares during the period. Finally, William Blair Investment Management LLC boosted its stake in Ameris Bancorp by 2.5% during the 4th quarter. William Blair Investment Management LLC now owns 789,271 shares of the bank’s stock valued at $49,385,000 after purchasing an additional 19,150 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors.

Ameris Bancorp Trading Up 0.9 %

NASDAQ:ABCB opened at $57.58 on Tuesday. The stock has a market cap of $3.98 billion, a PE ratio of 11.05 and a beta of 1.02. Ameris Bancorp has a fifty-two week low of $44.23 and a fifty-two week high of $74.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. The stock’s 50-day moving average is $62.53 and its two-hundred day moving average is $63.93.

Ameris Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Monday, March 31st will be paid a $0.20 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.80 annualized dividend and a yield of 1.39%. Ameris Bancorp’s dividend payout ratio is presently 15.36%.

Insiders Place Their Bets

In related 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 cost of $56.95 per share, with a total value of $56,950.00. Following the completion of the purchase, the insider now 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 can be accessed through this hyperlink. Insiders own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Stephens reaffirmed an “equal weight” rating and issued a $71.00 price objective on shares of Ameris Bancorp in a research note on Friday, January 31st. Raymond James restated an “outperform” rating and set a $71.00 price objective (up previously from $67.00) on shares of Ameris Bancorp in a report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods raised their target price on shares of Ameris Bancorp from $70.00 to $80.00 and gave the stock an “outperform” rating in a 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. Based on data from MarketBeat, Ameris Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $70.50.

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.