Ameris Bancorp (NASDAQ:ABCB) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its position in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,393,197 shares of the bank's stock after selling 168,969 shares during the quarter. Wellington Management Group LLP owned about 4.91% of Ameris Bancorp worth $212,312,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Picton Mahoney Asset Management increased its position in Ameris Bancorp by 2,436.8% in the 4th quarter. Picton Mahoney Asset Management now owns 482 shares of the bank's stock valued at $30,000 after acquiring an additional 463 shares during the period. R Squared Ltd acquired a new stake in shares of Ameris Bancorp in the 4th quarter worth $51,000. Blue Trust Inc. increased its stake in shares of Ameris Bancorp by 56.1% during the fourth quarter. Blue Trust Inc. now owns 1,113 shares of the bank's stock worth $69,000 after acquiring an additional 400 shares during the period. GAMMA Investing LLC raised its holdings in Ameris Bancorp by 17.9% during 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 in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position 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 during the period. Hedge funds and other institutional investors own 91.64% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Raymond James restated an "outperform" rating and set a $71.00 target price (up from $67.00) on shares of Ameris Bancorp in a research report on Monday, February 3rd. Piper Sandler started coverage on shares of Ameris Bancorp in a research report on Friday. They issued an "overweight" rating and a $74.00 price objective on the stock. Finally, Stephens restated an "equal weight" rating and set a $71.00 target price 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 issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $73.33.

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Insider Buying and Selling at Ameris Bancorp

In other Ameris Bancorp news, insider Douglas D. Strange bought 1,000 shares of the business'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 owns 19,403 shares in the company, valued at approximately $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. 5.50% of the stock is owned by company insiders.

Ameris Bancorp Trading Down 2.7 %

Shares of NASDAQ:ABCB traded down $1.42 during trading on Friday, reaching $50.64. The stock had a trading volume of 730,445 shares, compared to its average volume of 375,750. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The stock has a market cap of $3.50 billion, a P/E ratio of 9.72 and a beta of 0.87. The business has a fifty day moving average price of $61.70 and a 200-day moving average price of $63.71. Ameris Bancorp has a fifty-two week low of $44.23 and a fifty-two week high of $74.56.

Ameris Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Monday, March 31st. Ameris Bancorp's dividend payout ratio is currently 15.36%.

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.