Arrowstreet Capital Limited Partnership Has $2.58 Million Stock Position in Ameris Bancorp (NASDAQ:ABCB)

Arrowstreet Capital Limited Partnership decreased its stake in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 75.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,193 shares of the bank's stock after selling 127,198 shares during the period. Arrowstreet Capital Limited Partnership owned 0.06% of Ameris Bancorp worth $2,577,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. JPMorgan Chase & Co. boosted its holdings in shares of Ameris Bancorp by 30.7% in the 4th quarter. JPMorgan Chase & Co. now owns 952,058 shares of the bank's stock valued at $59,570,000 after buying an additional 223,805 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Ameris Bancorp by 4.6% in the third quarter. Principal Financial Group Inc. now owns 1,263,487 shares of the bank's stock valued at $78,829,000 after acquiring an additional 55,473 shares during the last quarter. William Blair Investment Management LLC grew its position in shares of Ameris Bancorp by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 789,271 shares of the bank's stock valued at $49,385,000 after acquiring an additional 19,150 shares during the period. Stifel Financial Corp increased its stake in shares of Ameris Bancorp by 13.9% during the 3rd quarter. Stifel Financial Corp now owns 21,107 shares of the bank's stock worth $1,317,000 after purchasing an additional 2,575 shares during the last quarter. Finally, Intech Investment Management LLC raised its holdings in shares of Ameris Bancorp by 158.2% in the 4th quarter. Intech Investment Management LLC now owns 40,279 shares of the bank's stock valued at $2,520,000 after purchasing an additional 24,680 shares during the period. Institutional investors own 91.64% of the company's stock.

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Analysts Set New Price Targets

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

Ameris Bancorp Stock Performance

NASDAQ ABCB traded up $1.22 during trading on Tuesday, reaching $52.90. The company's stock had a trading volume of 28,284 shares, compared to its average volume of 381,012. Ameris Bancorp has a 12 month low of $44.23 and a 12 month high of $74.56. The firm has a 50 day moving average price of $59.51 and a 200 day moving average price of $63.11. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of 10.14 and a beta of 0.87. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11.

Ameris Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Monday, March 31st were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend was Monday, March 31st. Ameris Bancorp's dividend payout ratio is currently 15.36%.

Insider Buying and Selling

In related news, insider Douglas D. Strange bought 1,000 shares of Ameris Bancorp stock in a transaction dated 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 in the company, valued at $1,105,000.85. This trade represents a 5.43 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 5.50% of the stock is currently owned by company insiders.

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.