Picton Mahoney Asset Management Has $30,000 Holdings in Ameris Bancorp (NASDAQ:ABCB)

Picton Mahoney Asset Management boosted its holdings in Ameris Bancorp (NASDAQ:ABCB) by 2,436.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 482 shares of the bank’s stock after buying an additional 463 shares during the quarter. Picton Mahoney Asset Management’s holdings in Ameris Bancorp were worth $30,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. R Squared Ltd acquired a new stake in shares of Ameris Bancorp during the fourth quarter valued at about $51,000. Blue Trust Inc. boosted its stake 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 purchasing an additional 400 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Ameris Bancorp by 17.9% during the fourth quarter. GAMMA Investing LLC now owns 1,332 shares of the bank’s stock valued at $83,000 after purchasing an additional 202 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Ameris Bancorp by 167.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the bank’s stock valued at $90,000 after purchasing an additional 896 shares in the last quarter. Finally, USA Financial Formulas acquired a new stake in shares of Ameris Bancorp during the fourth quarter valued at about $98,000. 91.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABCB has been the topic of a number of recent research reports. 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 note on Monday, February 3rd. Keefe, Bruyette & Woods lifted their price target on 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 reissued an “equal weight” rating and set a $71.00 price target on shares of Ameris Bancorp in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $70.50.

Ameris Bancorp Price Performance

Shares of ABCB opened at $57.87 on Tuesday. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of 11.11 and a beta of 1.02. The business has a 50-day moving average of $63.37 and a 200-day moving average of $64.08. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. Ameris Bancorp has a 1 year low of $44.23 and a 1 year high of $74.56.

Ameris Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Tuesday, December 31st were issued a $0.20 dividend. This is an increase from Ameris Bancorp’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Tuesday, December 31st. Ameris Bancorp’s payout ratio is presently 15.36%.

Insiders Place Their Bets

In other Ameris Bancorp news, insider Douglas D. Strange bought 1,000 shares of the stock in a transaction on 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 completion of the acquisition, the insider now owns 19,403 shares in the company, valued at $1,105,000.85. This trade represents a 5.43 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 5.50% of the stock is currently owned by corporate insiders.

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.