Invesco Ltd. Purchases 29,281 Shares of Ameris Bancorp (NASDAQ:ABCB)

Invesco Ltd. raised its position in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 7.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 429,895 shares of the bank's stock after purchasing an additional 29,281 shares during the period. Invesco Ltd. owned 0.62% of Ameris Bancorp worth $26,899,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ABCB. Prospector Partners LLC lifted its stake in Ameris Bancorp by 1.4% in the fourth quarter. Prospector Partners LLC now owns 220,482 shares of the bank's stock valued at $13,796,000 after acquiring an additional 3,067 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ameris Bancorp in the 4th quarter valued at $1,195,000. Cullen Capital Management LLC boosted its holdings in Ameris Bancorp by 2.5% in the fourth quarter. Cullen Capital Management LLC now owns 17,124 shares of the bank's stock worth $1,071,000 after purchasing an additional 418 shares in the last quarter. Wells Fargo & Company MN increased its position in Ameris Bancorp by 41.6% during the fourth quarter. Wells Fargo & Company MN now owns 44,237 shares of the bank's stock worth $2,768,000 after buying an additional 12,989 shares during the last quarter. Finally, Foundry Partners LLC bought a new position in Ameris Bancorp during the fourth quarter valued at about $4,521,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Ameris Bancorp Price Performance

Shares of Ameris Bancorp stock traded up $0.30 during trading on Thursday, hitting $55.81. 109,980 shares of the company's stock traded hands, compared to its average volume of 388,189. Ameris Bancorp has a twelve month low of $45.89 and a twelve month high of $74.56. The company has a market cap of $3.86 billion, a PE ratio of 10.71 and a beta of 0.87. The firm's fifty day moving average price is $57.54 and its 200 day moving average price is $62.71. 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Monday, March 31st were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Monday, March 31st. Ameris Bancorp's dividend payout ratio (DPR) is 15.36%.

Analyst Ratings Changes

A number of research analysts have recently commented on ABCB shares. Raymond James reissued an "outperform" rating and set a $71.00 price objective (up previously from $67.00) on shares of Ameris Bancorp in a report on Monday, February 3rd. Stephens reiterated an "equal weight" rating and issued a $71.00 target price on shares of Ameris Bancorp in a research note on Friday, January 31st. Piper Sandler Companies upped their price target on shares of Ameris Bancorp to $74.00 and gave the company a "buy" rating in a report on Monday, April 7th. Finally, Piper Sandler started coverage on Ameris Bancorp in a research note on Friday, April 4th. They set an "overweight" rating and a $74.00 target price for the company. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $73.43.

Insider Buying and Selling at Ameris Bancorp

In other news, insider Douglas D. Strange acquired 1,000 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $56.95 per share, with a total value of $56,950.00. Following the completion of the acquisition, the insider now owns 19,403 shares in the company, valued at approximately $1,105,000.85. This represents a 5.43 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 5.50% of the company's stock.

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.