Ameris Bancorp (NASDAQ:ABCB) Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC reduced its position in Ameris Bancorp (NASDAQ:ABCB) by 7.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 272,283 shares of the bank’s stock after selling 21,450 shares during the period. First Eagle Investment Management LLC owned approximately 0.39% of Ameris Bancorp worth $17,037,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ABCB. US Bancorp DE lifted its stake in shares of Ameris Bancorp by 3,396.4% in the 3rd quarter. US Bancorp DE now owns 1,923 shares of the bank’s stock valued at $120,000 after purchasing an additional 1,868 shares in the last quarter. Versor Investments LP acquired a new position in shares of Ameris Bancorp in the 3rd quarter valued at about $349,000. Entropy Technologies LP lifted its stake in shares of Ameris Bancorp by 29.0% in the 3rd quarter. Entropy Technologies LP now owns 8,007 shares of the bank’s stock valued at $500,000 after purchasing an additional 1,801 shares in the last quarter. Victory Capital Management Inc. lifted its position in Ameris Bancorp by 1.4% during the 3rd quarter. Victory Capital Management Inc. now owns 863,294 shares of the bank’s stock worth $53,861,000 after acquiring an additional 12,054 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in Ameris Bancorp during the 3rd quarter worth approximately $232,000. 91.64% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Douglas D. Strange purchased 1,000 shares of the stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $56.95 per share, for a total transaction of $56,950.00. Following the acquisition, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 5.50% of the stock is owned by company insiders.

Ameris Bancorp Price Performance

ABCB stock opened at $55.57 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. Ameris Bancorp has a 52-week low of $44.22 and a 52-week high of $74.56. The stock’s 50 day moving average is $63.65 and its two-hundred day moving average is $64.14. The company has a market capitalization of $3.84 billion, a PE ratio of 10.67 and a beta of 1.02.

Ameris Bancorp Increases Dividend

The firm also recently disclosed 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. 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 1.44%. Ameris Bancorp’s payout ratio is currently 15.36%.

Wall Street Analyst Weigh In

Several research firms recently commented on ABCB. Keefe, Bruyette & Woods boosted their price target 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 reissued an “outperform” rating and set a $71.00 price target (up from $67.00) on shares of Ameris Bancorp in a research report on Monday, February 3rd. Finally, Stephens reissued an “equal weight” rating and set a $71.00 price target on shares of Ameris Bancorp in a research report 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.50.

About Ameris Bancorp

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.