Sei Investments Co. Cuts Stock Position in Ameris Bancorp (NASDAQ:ABCB)

Sei Investments Co. cut its holdings in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 200,588 shares of the bank's stock after selling 21,896 shares during the period. Sei Investments Co. owned 0.29% of Ameris Bancorp worth $12,551,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Principal Financial Group Inc. boosted its position in Ameris Bancorp by 4.6% during the 3rd 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 in the last quarter. Stifel Financial Corp boosted its position in Ameris Bancorp by 13.9% during the third quarter. Stifel Financial Corp now owns 21,107 shares of the bank's stock valued at $1,317,000 after purchasing an additional 2,575 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 valued at $49,385,000 after purchasing an additional 19,150 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in Ameris Bancorp by 135.5% in the third quarter. Point72 Asset Management L.P. now owns 115,194 shares of the bank's stock worth $7,187,000 after purchasing an additional 66,287 shares in the last quarter. Finally, Citigroup Inc. lifted its position in shares of Ameris Bancorp by 32.5% during the third quarter. Citigroup Inc. now owns 142,122 shares of the bank's stock valued at $8,867,000 after buying an additional 34,881 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors.

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Ameris Bancorp Stock Performance

Shares of ABCB stock traded down $5.74 during mid-day trading on Thursday, reaching $52.04. The stock had a trading volume of 505,265 shares, compared to its average volume of 373,564. Ameris Bancorp has a 1-year low of $44.23 and a 1-year high of $74.56. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 9.99 and a beta of 1.02. 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 business's fifty day moving average is $61.98 and its 200-day moving average is $63.78.

Ameris Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Monday, March 31st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.54%. The ex-dividend date is Monday, March 31st. Ameris Bancorp's payout ratio is 15.36%.

Insiders Place Their Bets

In other news, insider Douglas D. Strange acquired 1,000 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average price of $56.95 per share, with a total value of $56,950.00. Following the purchase, the insider now directly owns 19,403 shares of the company's stock, valued at $1,105,000.85. This trade represents a 5.43 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Ameris Bancorp from $70.00 to $80.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Raymond James reaffirmed an "outperform" rating and issued a $71.00 price target (up from $67.00) on shares of Ameris Bancorp in a report on Monday, February 3rd. Finally, Stephens reiterated an "equal weight" rating and set a $71.00 price objective on shares of Ameris Bancorp in a report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Ameris Bancorp has an average rating of "Moderate Buy" and a consensus target price of $70.50.

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.