Dimensional Fund Advisors LP Sells 68,238 Shares of Ameris Bancorp (NASDAQ:ABCB)

Dimensional Fund Advisors LP decreased its stake in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 1.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,316,126 shares of the bank's stock after selling 68,238 shares during the period. Dimensional Fund Advisors LP owned approximately 6.25% of Ameris Bancorp worth $270,063,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in Ameris Bancorp by 30.7% during the 4th quarter. JPMorgan Chase & Co. now owns 952,058 shares of the bank's stock valued at $59,570,000 after acquiring an additional 223,805 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Ameris Bancorp by 4.6% during the third quarter. Principal Financial Group Inc. now owns 1,263,487 shares of the bank's stock valued at $78,829,000 after purchasing an additional 55,473 shares in the last quarter. William Blair Investment Management LLC grew its stake in Ameris Bancorp by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 789,271 shares of the bank's stock worth $49,385,000 after purchasing an additional 19,150 shares during the period. Intech Investment Management LLC raised its holdings in Ameris Bancorp by 158.2% in the fourth quarter. Intech Investment Management LLC now owns 40,279 shares of the bank's stock worth $2,520,000 after purchasing an additional 24,680 shares in the last quarter. Finally, Cibc World Markets Corp purchased a new position in Ameris Bancorp during the fourth quarter valued at $385,000. Institutional investors own 91.64% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on ABCB shares. Piper Sandler Companies increased their price target on shares of Ameris Bancorp to $74.00 and gave the stock a "buy" rating in a research note on Monday, April 7th. Piper Sandler initiated 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. Stephens reissued an "equal weight" rating and issued a $71.00 price target on shares of Ameris Bancorp in a research report on Friday, January 31st. Finally, Raymond James reiterated an "outperform" rating and set a $71.00 price objective (up previously from $67.00) on shares of Ameris Bancorp in a research note on Monday, February 3rd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $73.43.

Ameris Bancorp Stock Performance

NASDAQ:ABCB traded up $1.30 during trading hours on Thursday, reaching $56.81. The company had a trading volume of 511,076 shares, compared to its average volume of 390,046. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 10.90 and a beta of 0.87. Ameris Bancorp has a 52 week low of $45.89 and a 52 week high of $74.56. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The firm's 50 day moving average price is $57.36 and its 200-day moving average price is $62.68.

Ameris Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Monday, March 31st were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.41%. Ameris Bancorp's dividend payout ratio is currently 15.36%.

Insider Activity

In related news, insider Douglas D. Strange purchased 1,000 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was acquired 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 of the company's stock, valued at approximately $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 accessible through the SEC website. Insiders own 5.50% of the company's stock.

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.