Brandywine Global Investment Management LLC reduced its holdings in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 4.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 160,658 shares of the bank's stock after selling 7,411 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.23% of Ameris Bancorp worth $10,052,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ABCB. Picton Mahoney Asset Management grew 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 valued at $30,000 after purchasing an additional 463 shares in the last quarter. R Squared Ltd bought a new position in shares of Ameris Bancorp in the 4th quarter valued at about $51,000. Blue Trust Inc. boosted its position in Ameris Bancorp by 56.1% during the fourth quarter. Blue Trust Inc. now owns 1,113 shares of the bank's stock valued at $69,000 after purchasing an additional 400 shares during the last quarter. GAMMA Investing LLC grew its stake in Ameris Bancorp by 17.9% in the fourth quarter. GAMMA Investing LLC now owns 1,332 shares of the bank's stock valued at $83,000 after purchasing an additional 202 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Ameris Bancorp by 167.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the bank's stock worth $90,000 after purchasing an additional 896 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Ameris Bancorp
In related news, insider Douglas D. Strange purchased 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average cost of $56.95 per share, with a total value of $56,950.00. Following the acquisition, the insider now owns 19,403 shares of the company's stock, valued at $1,105,000.85. This trade represents a 5.43 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 5.50% of the company's stock.
Ameris Bancorp Price Performance
Shares of ABCB traded up $0.89 during trading hours on Wednesday, hitting $57.89. 415,841 shares of the company were exchanged, compared to its average volume of 372,727. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 11.11 and a beta of 1.02. The firm's fifty day moving average is $62.22 and its 200 day moving average is $63.86. Ameris Bancorp has a fifty-two week low of $44.23 and a fifty-two week high of $74.56. 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 Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Monday, March 31st will be given a dividend of $0.20 per share. The ex-dividend date is Monday, March 31st. This represents a $0.80 annualized dividend and a yield of 1.38%. Ameris Bancorp's dividend payout ratio is currently 15.36%.
Wall Street Analyst Weigh In
Several research firms recently weighed in on ABCB. Stephens reissued an "equal weight" rating and issued a $71.00 target price on shares of Ameris Bancorp in a research note on Friday, January 31st. Keefe, Bruyette & Woods raised their price objective on Ameris Bancorp from $70.00 to $80.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Finally, Raymond James restated an "outperform" rating and issued a $71.00 price target (up previously from $67.00) on shares of Ameris Bancorp in a research note on Monday, February 3rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.50.
Read Our Latest Analysis on ABCB
About Ameris Bancorp
(
Free Report)
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.
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