Ameris Bancorp (NASDAQ:ABCB) Stock Position Lifted by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board grew its position in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 143.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 74,700 shares of the bank's stock after acquiring an additional 44,000 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.11% of Ameris Bancorp worth $4,674,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Gamco Investors INC. ET AL lifted its holdings in Ameris Bancorp by 7.9% in the fourth quarter. Gamco Investors INC. ET AL now owns 54,900 shares of the bank's stock worth $3,435,000 after acquiring an additional 4,000 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Ameris Bancorp during the 4th quarter worth approximately $399,000. Barclays PLC lifted its holdings in shares of Ameris Bancorp by 5.7% in the 4th quarter. Barclays PLC now owns 148,046 shares of the bank's stock worth $9,264,000 after purchasing an additional 8,045 shares during the last quarter. Summit Investment Advisors Inc. boosted its position in Ameris Bancorp by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,887 shares of the bank's stock valued at $431,000 after purchasing an additional 218 shares during the period. Finally, Synovus Financial Corp grew its stake in Ameris Bancorp by 1.7% during the 4th quarter. Synovus Financial Corp now owns 14,020 shares of the bank's stock worth $877,000 after buying an additional 235 shares during the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

Ameris Bancorp Stock Up 3.2 %

Shares of ABCB stock opened at $54.08 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. The stock has a market cap of $3.74 billion, a PE ratio of 10.38 and a beta of 0.87. The business's fifty day moving average is $57.75 and its 200-day moving average is $62.76. Ameris Bancorp has a 1 year low of $45.89 and a 1 year high of $74.56.

Ameris Bancorp Announces Dividend

The firm 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 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Monday, March 31st. Ameris Bancorp's dividend payout ratio (DPR) is presently 15.36%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ABCB shares. Stephens reiterated an "equal weight" rating and issued a $71.00 price objective on shares of Ameris Bancorp in a research report on Friday, January 31st. Piper Sandler began coverage on Ameris Bancorp in a report on Friday, April 4th. They set an "overweight" rating and a $74.00 price target on the stock. Piper Sandler Companies boosted their price objective on Ameris Bancorp to $74.00 and gave the stock a "buy" rating in a research report on Monday, April 7th. Finally, Raymond James restated an "outperform" rating and issued a $71.00 target price (up from $67.00) on shares of Ameris Bancorp in a research report on Monday, February 3rd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $73.43.

Insider Buying and Selling at Ameris Bancorp

In other Ameris Bancorp news, insider Douglas D. Strange purchased 1,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were purchased at an average price of $56.95 per share, for a total transaction of $56,950.00. Following the completion of the transaction, the insider now owns 19,403 shares in the company, valued at $1,105,000.85. This represents a 5.43 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.50% of the stock is owned by corporate insiders.

Ameris Bancorp Company 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.

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