6,229 Shares in Ameris Bancorp (NASDAQ:ABCB) Acquired by Franklin Resources Inc.

Franklin Resources Inc. bought a new stake in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,229 shares of the bank's stock, valued at approximately $390,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Picton Mahoney Asset Management increased its holdings in Ameris Bancorp by 2,436.8% in the 4th quarter. Picton Mahoney Asset Management now owns 482 shares of the bank's stock worth $30,000 after acquiring an additional 463 shares in the last quarter. R Squared Ltd bought a new position in shares of Ameris Bancorp in the fourth quarter worth approximately $51,000. Blue Trust Inc. increased its stake in shares of Ameris Bancorp by 56.1% in the fourth quarter. Blue Trust Inc. now owns 1,113 shares of the bank's stock worth $69,000 after purchasing an additional 400 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Ameris Bancorp by 17.9% during the 4th quarter. GAMMA Investing LLC now owns 1,332 shares of the bank's stock valued at $83,000 after buying an additional 202 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted 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 valued at $90,000 after buying an additional 896 shares in the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 acquired at an average cost of $56.95 per share, with a total value 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. The trade was a 5.43 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.50% of the company's stock.

Analyst Ratings Changes

ABCB has been the topic of a number of recent analyst reports. Raymond James reissued an "outperform" rating and set a $71.00 price target (up from $67.00) on shares of Ameris Bancorp in a report on Monday, February 3rd. Piper Sandler Companies boosted their price target on Ameris Bancorp to $74.00 and gave the stock a "buy" rating in a report on Monday, April 7th. Stephens reaffirmed an "equal weight" rating and set a $71.00 price objective on shares of Ameris Bancorp in a report on Friday, January 31st. Finally, Piper Sandler started 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. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $73.43.

Ameris Bancorp Trading Up 0.4 %

ABCB traded up $0.22 on Friday, hitting $53.10. The company had a trading volume of 543,467 shares, compared to its average volume of 386,573. The business's fifty day simple moving average is $58.29 and its 200 day simple moving average is $62.89. 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 has a 12-month low of $45.89 and a 12-month high of $74.56. The company has a market cap of $3.67 billion, a PE ratio of 10.19 and a beta of 0.87.

Ameris Bancorp Announces Dividend

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

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.