Dynamic Technology Lab Private Ltd Takes $1.20 Million Position in Ameris Bancorp (NASDAQ:ABCB)

Dynamic Technology Lab Private Ltd acquired a new position in Ameris Bancorp (NASDAQ:ABCB) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 19,110 shares of the bank’s stock, valued at approximately $1,195,000.

Other hedge funds also recently bought and sold shares of the company. Picton Mahoney Asset Management boosted its position in Ameris Bancorp by 2,436.8% in the fourth quarter. Picton Mahoney Asset Management now owns 482 shares of the bank’s stock worth $30,000 after purchasing an additional 463 shares during the last quarter. R Squared Ltd bought a new position in shares of Ameris Bancorp in the 4th quarter worth approximately $51,000. Blue Trust Inc. boosted its holdings in shares of Ameris Bancorp by 56.1% in the fourth quarter. Blue Trust Inc. now owns 1,113 shares of the bank’s stock worth $69,000 after buying an additional 400 shares during the last quarter. GAMMA Investing LLC grew its position in 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 buying an additional 202 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in 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 buying an additional 896 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Insider Buying and Selling

In related news, insider Douglas D. Strange purchased 1,000 shares of the firm’s stock in a transaction on 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 in the company, valued at $1,105,000.85. This trade represents a 5.43 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.50% of the stock is owned by company insiders.

Ameris Bancorp Stock Down 2.7 %

Shares of ABCB opened at $50.64 on Friday. The business’s 50 day moving average is $61.70 and its 200 day moving average is $63.71. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. Ameris Bancorp has a 12-month low of $44.23 and a 12-month high of $74.56. The company has a market capitalization of $3.50 billion, a PE ratio of 9.72 and a beta of 1.02.

Ameris Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 31st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Monday, March 31st. Ameris Bancorp’s dividend payout ratio (DPR) is presently 15.36%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Stephens reaffirmed an “equal weight” rating and issued a $71.00 target price on shares of Ameris Bancorp in a report on Friday, January 31st. Raymond James reaffirmed an “outperform” rating and set a $71.00 price objective (up from $67.00) on shares of Ameris Bancorp in a research report on Monday, February 3rd. Finally, Piper Sandler assumed coverage on shares of Ameris Bancorp in a report on Friday. They issued an “overweight” rating and a $74.00 target price for the company. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $73.33.

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.