Prudential Financial Inc. Sells 9,051 Shares of Ameris Bancorp (NASDAQ:ABCB)

Prudential Financial Inc. reduced its holdings in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 172,622 shares of the bank's stock after selling 9,051 shares during the quarter. Prudential Financial Inc. owned about 0.25% of Ameris Bancorp worth $10,801,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ABCB. Jennison Associates LLC bought a new stake in shares of Ameris Bancorp in the 4th quarter valued at $10,856,000. Charles Schwab Investment Management Inc. increased its stake in Ameris Bancorp by 9.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 907,140 shares of the bank's stock valued at $56,596,000 after purchasing an additional 79,060 shares in the last quarter. Barclays PLC increased its stake in Ameris Bancorp by 107.7% in the third quarter. Barclays PLC now owns 140,001 shares of the bank's stock valued at $8,735,000 after purchasing an additional 72,599 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Ameris Bancorp by 135.5% during the third quarter. Point72 Asset Management L.P. now owns 115,194 shares of the bank's stock valued at $7,187,000 after purchasing an additional 66,287 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in shares of Ameris Bancorp by 2,768.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 68,384 shares of the bank's stock worth $4,292,000 after purchasing an additional 66,000 shares in the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of analysts recently commented on ABCB shares. Raymond James reaffirmed 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. Stephens restated an "equal weight" rating and set a $71.00 price objective on shares of Ameris Bancorp in a report on Friday, January 31st. Finally, Keefe, Bruyette & Woods increased their target price on Ameris Bancorp from $70.00 to $80.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $70.50.

Ameris Bancorp Price Performance

Shares of NASDAQ:ABCB traded up $0.27 during trading on Wednesday, reaching $57.27. The company had a trading volume of 65,043 shares, compared to its average volume of 423,463. The company has a fifty day moving average of $62.35 and a two-hundred day moving average of $63.90. 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 stock has a market capitalization of $3.96 billion, a P/E ratio of 10.99 and a beta of 1.02. Ameris Bancorp has a 12 month low of $44.22 and a 12 month high of $74.56.

Ameris Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 31st will be paid a $0.20 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.40%. Ameris Bancorp's dividend payout ratio (DPR) is 15.36%.

Insider Activity at Ameris Bancorp

In other Ameris Bancorp news, insider Douglas D. Strange purchased 1,000 shares of Ameris Bancorp stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average price of $56.95 per share, for a total transaction of $56,950.00. Following the acquisition, the insider now directly owns 19,403 shares in the company, valued at approximately $1,105,000.85. This trade represents a 5.43 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.50% of the stock is owned by 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.