Vanguard Group Inc. Sells 44,925 Shares of Ameris Bancorp (NASDAQ:ABCB)

Vanguard Group Inc. decreased its holdings in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,440,861 shares of the bank's stock after selling 44,925 shares during the period. Vanguard Group Inc. owned 10.77% of Ameris Bancorp worth $465,575,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ABCB. Picton Mahoney Asset Management boosted its holdings in shares of Ameris Bancorp by 2,436.8% during the 4th quarter. Picton Mahoney Asset Management now owns 482 shares of the bank's stock worth $30,000 after buying an additional 463 shares in the last quarter. R Squared Ltd bought a new position in Ameris Bancorp during the fourth quarter worth $51,000. Blue Trust Inc. grew its holdings in 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 during the period. GAMMA Investing LLC grew its holdings in Ameris Bancorp by 17.9% in the fourth quarter. GAMMA Investing LLC now owns 1,332 shares of the bank's stock worth $83,000 after purchasing an additional 202 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in Ameris Bancorp by 167.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the bank's stock valued at $90,000 after purchasing an additional 896 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company's stock.

Ameris Bancorp Stock Down 2.7 %

Shares of NASDAQ:ABCB traded down $1.42 during mid-day trading on Friday, hitting $50.64. 730,445 shares of the company traded hands, compared to its average volume of 375,750. The stock has a 50-day moving average price of $61.70 and a two-hundred day moving average price of $63.72. Ameris Bancorp has a 12-month low of $44.23 and a 12-month high of $74.56. The stock has a market cap of $3.50 billion, a P/E ratio of 9.72 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.

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Ameris Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Monday, March 31st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.58%. The ex-dividend date is Monday, March 31st. Ameris Bancorp's dividend payout ratio (DPR) is presently 15.36%.

Analyst Ratings Changes

A number of analysts recently commented on the company. 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. Piper Sandler began coverage on Ameris Bancorp in a research report on Friday. They set an "overweight" rating and a $74.00 target price on the stock. Finally, 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Ameris Bancorp presently has an average rating of "Moderate Buy" and a consensus price target of $73.33.

Insiders Place Their Bets

In other Ameris Bancorp news, insider Douglas D. Strange acquired 1,000 shares of Ameris Bancorp stock in a transaction on Wednesday, March 12th. The stock was purchased at an average price of $56.95 per share, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.50% of the stock is currently owned by 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.