Entropy Technologies LP Acquires 995 Shares of Ameris Bancorp (NASDAQ:ABCB)

Entropy Technologies LP increased its holdings in Ameris Bancorp (NASDAQ:ABCB) by 12.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,002 shares of the bank’s stock after buying an additional 995 shares during the period. Entropy Technologies LP’s holdings in Ameris Bancorp were worth $563,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of ABCB. Jennison Associates LLC bought a new position in shares of Ameris Bancorp in the 4th quarter worth $10,856,000. R Squared Ltd bought a new position in Ameris Bancorp in the fourth quarter worth about $51,000. Nilsine Partners LLC lifted its position in shares of Ameris Bancorp by 348.5% during the fourth quarter. Nilsine Partners LLC now owns 52,316 shares of the bank’s stock valued at $3,273,000 after buying an additional 40,652 shares during the last quarter. KBC Group NV boosted its holdings in shares of Ameris Bancorp by 53.1% in the 4th quarter. KBC Group NV now owns 2,987 shares of the bank’s stock valued at $187,000 after buying an additional 1,036 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of Ameris Bancorp by 56.1% in the 4th 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. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Truist Financial decreased their target price on shares of Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Raymond James restated an “outperform” rating and set a $71.00 target price (up from $67.00) on shares of Ameris Bancorp in a research note on Monday, February 3rd. StockNews.com raised Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Stephens reissued an “equal weight” rating and issued a $71.00 price target on shares of Ameris Bancorp in a report on Friday, January 31st. Finally, Keefe, Bruyette & Woods upped their price objective 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 issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $70.50.

Ameris Bancorp Trading Up 1.4 %

Shares of NASDAQ:ABCB opened at $68.35 on Wednesday. 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 has a market cap of $4.72 billion, a price-to-earnings ratio of 13.12 and a beta of 1.06. The business has a 50-day moving average price of $64.68 and a 200-day moving average price of $63.45.

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 paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.17%. This is a boost from Ameris Bancorp’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, December 31st. Ameris Bancorp’s payout ratio is presently 15.36%.

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.