KBC Group NV Boosts Position in Ameris Bancorp (NASDAQ:ABCB)

KBC Group NV raised its stake in shares of Ameris Bancorp (NASDAQ:ABCB) by 53.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,987 shares of the bank’s stock after purchasing an additional 1,036 shares during the quarter. KBC Group NV’s holdings in Ameris Bancorp were worth $187,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ABCB. Blue Trust Inc. raised its stake in 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 in the last quarter. Jacksonville Wealth Management LLC purchased a new position in shares of Ameris Bancorp during the 4th quarter worth approximately $200,000. Trust Co. of Oklahoma bought a new position in shares of Ameris Bancorp in the 4th quarter worth approximately $600,000. Nisa Investment Advisors LLC lifted its stake in shares of Ameris Bancorp by 2,768.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 68,384 shares of the bank’s stock valued at $4,292,000 after purchasing an additional 66,000 shares during the period. Finally, HB Wealth Management LLC bought a new stake in shares of Ameris Bancorp during the fourth quarter valued at approximately $352,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

Ameris Bancorp Price Performance

Shares of ABCB opened at $67.88 on Thursday. Ameris Bancorp has a twelve month low of $44.22 and a twelve month high of $74.56. The company has a market capitalization of $4.69 billion, a P/E ratio of 13.03 and a beta of 1.06. The firm has a 50 day moving average of $64.82 and a 200 day moving average of $63.23. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Tuesday, December 31st were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.80 annualized dividend and a dividend yield of 1.18%. This is a boost from Ameris Bancorp’s previous quarterly dividend of $0.15. Ameris Bancorp’s payout ratio is currently 15.36%.

Analysts Set New Price Targets

A number of research firms have issued reports on ABCB. Keefe, Bruyette & Woods increased their price objective on Ameris Bancorp from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Stephens reissued an “equal weight” rating and set a $71.00 price objective on shares of Ameris Bancorp in a research note on Friday, January 31st. StockNews.com raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Truist Financial dropped their price target on Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Finally, Raymond James reaffirmed an “outperform” rating and set a $71.00 price objective (up previously from $67.00) on shares of Ameris Bancorp in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $70.50.

Ameris Bancorp 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.