Ameris Bancorp (NASDAQ:ABCB) Stock Position Reduced by Wellington Management Group LLP

Wellington Management Group LLP lessened its position in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,393,197 shares of the bank's stock after selling 168,969 shares during the period. Wellington Management Group LLP owned approximately 4.91% of Ameris Bancorp worth $212,312,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC increased its stake in shares of Ameris Bancorp by 13.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 4,110 shares of the bank's stock valued at $257,000 after purchasing an additional 485 shares during the period. New Age Alpha Advisors LLC bought a new position in Ameris Bancorp in the 4th quarter worth approximately $594,000. Norges Bank acquired a new stake in Ameris Bancorp in the 4th quarter valued at approximately $48,380,000. JPMorgan Chase & Co. raised its stake in Ameris Bancorp by 30.7% during the 4th quarter. JPMorgan Chase & Co. now owns 952,058 shares of the bank's stock valued at $59,570,000 after acquiring an additional 223,805 shares in the last quarter. Finally, Segall Bryant & Hamill LLC boosted its position in Ameris Bancorp by 4.2% during the 4th quarter. Segall Bryant & Hamill LLC now owns 697,323 shares of the bank's stock worth $43,632,000 after acquiring an additional 28,131 shares during the period. 91.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ameris Bancorp

In related news, insider Douglas D. Strange purchased 1,000 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased 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 of the company's stock, valued at $1,105,000.85. This trade represents a 5.43 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 5.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ABCB has been the topic of a number of research analyst reports. Piper Sandler initiated coverage on Ameris Bancorp in a report on Friday. They set an "overweight" rating and a $74.00 price target on the stock. Raymond James reissued an "outperform" rating and set a $71.00 target price (up previously from $67.00) on shares of Ameris Bancorp in a research note on Monday, February 3rd. Stephens reaffirmed an "equal weight" rating and issued a $71.00 price target on shares of Ameris Bancorp in a research note on Friday, January 31st. Finally, Piper Sandler Companies increased their price objective on shares of Ameris Bancorp to $74.00 and gave the company a "buy" rating in a report on Monday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $73.43.

Ameris Bancorp Price Performance

Shares of ABCB traded down $0.02 during mid-day trading on Monday, hitting $50.79. The company's stock had a trading volume of 537,787 shares, compared to its average volume of 376,396. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. The firm has a 50-day moving average price of $61.42 and a 200 day moving average price of $63.62. Ameris Bancorp has a fifty-two week low of $44.23 and a fifty-two week high of $74.56. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 9.75 and a beta of 0.87.

Ameris Bancorp Dividend Announcement

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 given a $0.20 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.80 annualized dividend and a yield of 1.58%. Ameris Bancorp's dividend payout ratio (DPR) is 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.