Entropy Technologies LP Grows Stock Position in Ameris Bancorp (NASDAQ:ABCB)

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

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Ameris Bancorp by 38.0% in the third quarter. GAMMA Investing LLC now owns 1,130 shares of the bank’s stock valued at $71,000 after acquiring an additional 311 shares during the period. CWM LLC increased its holdings in shares of Ameris Bancorp by 105.8% during the 3rd quarter. CWM LLC now owns 2,696 shares of the bank’s stock valued at $168,000 after purchasing an additional 1,386 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Ameris Bancorp by 249.5% in the 3rd 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. Sequoia Financial Advisors LLC purchased a new stake in Ameris Bancorp during the third quarter worth $233,000. Finally, E. Ohman J or Asset Management AB grew its position in Ameris Bancorp by 6.1% during the third quarter. E. Ohman J or Asset Management AB now owns 38,052 shares of the bank’s stock valued at $2,374,000 after buying an additional 2,200 shares during the period. 91.64% of the stock is owned by institutional investors and hedge funds.

Ameris Bancorp Stock Performance

Shares of NASDAQ:ABCB opened at $68.35 on Wednesday. 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 $44.22 and a 1 year high of $74.56. The firm has a market capitalization of $4.72 billion, a PE ratio of 13.12 and a beta of 1.06. The business’s 50 day moving average price is $64.68 and its 200-day moving average price is $63.45.

Ameris Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.20 per share. This is a positive change from Ameris Bancorp’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.17%. Ameris Bancorp’s dividend payout ratio is presently 15.36%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ABCB shares. Keefe, Bruyette & Woods increased their target price on shares of Ameris Bancorp from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. StockNews.com upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Raymond James restated an “outperform” rating and issued a $71.00 price objective (up from $67.00) on shares of Ameris Bancorp in a research report on Monday, February 3rd. Stephens reiterated an “equal weight” rating and set a $71.00 target price on shares of Ameris Bancorp in a research report on Friday, January 31st. Finally, Truist Financial cut their price target on shares of Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating for the company in a report on Monday, October 28th. 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, Ameris Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $70.50.

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.