Ameris Bancorp (NASDAQ:ABCB) Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its position in shares of Ameris Bancorp (NASDAQ:ABCB) by 1.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,689 shares of the bank’s stock after acquiring an additional 628 shares during the quarter. Illinois Municipal Retirement Fund owned 0.05% of Ameris Bancorp worth $2,233,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ABCB. Blue Trust Inc. boosted its stake in shares of Ameris Bancorp by 249.5% in the third 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 period. Wealth Enhancement Advisory Services LLC lifted its holdings in Ameris Bancorp by 2.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 12,503 shares of the bank’s stock worth $780,000 after buying an additional 258 shares in the last quarter. Congress Asset Management Co. boosted its position in Ameris Bancorp by 2.5% in the 3rd quarter. Congress Asset Management Co. now owns 809,338 shares of the bank’s stock valued at $50,495,000 after buying an additional 19,506 shares during the period. US Bancorp DE grew its stake in shares of Ameris Bancorp by 3,396.4% in the third quarter. US Bancorp DE now owns 1,923 shares of the bank’s stock worth $120,000 after acquiring an additional 1,868 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Ameris Bancorp by 9.0% during the third quarter. New York State Common Retirement Fund now owns 254,309 shares of the bank’s stock worth $15,866,000 after acquiring an additional 21,090 shares during the period. 91.64% of the stock is owned by institutional investors and hedge funds.

Ameris Bancorp Price Performance

Shares of NASDAQ ABCB opened at $63.33 on Friday. The stock’s 50-day simple moving average is $64.24 and its 200-day simple moving average is $63.98. The firm has a market capitalization of $4.37 billion, a PE ratio of 12.16 and a beta of 1.06. Ameris Bancorp has a fifty-two week low of $44.22 and a fifty-two 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Tuesday, December 31st were paid a $0.20 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.80 dividend on an annualized basis and a yield of 1.26%. This is a boost from Ameris Bancorp’s previous quarterly dividend of $0.15. Ameris Bancorp’s payout ratio is currently 15.36%.

Wall Street Analysts Forecast Growth

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