Ameris Bancorp (NASDAQ:ABCB) Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC reduced its stake in Ameris Bancorp (NASDAQ:ABCB) by 4.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 160,658 shares of the bank’s stock after selling 7,411 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Ameris Bancorp were worth $10,052,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ABCB. Picton Mahoney Asset Management lifted its stake in Ameris Bancorp by 2,436.8% during the fourth quarter. Picton Mahoney Asset Management now owns 482 shares of the bank’s stock worth $30,000 after purchasing an additional 463 shares in the last quarter. R Squared Ltd acquired a new position in Ameris Bancorp in the 4th quarter valued at about $51,000. Blue Trust Inc. increased its stake in 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 purchasing an additional 400 shares during the period. GAMMA Investing LLC lifted its position in shares of 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 boosted its stake in shares of 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.

Analysts Set New Price Targets

ABCB has been the topic of several recent research reports. Raymond James reaffirmed an “outperform” rating and set a $71.00 target price (up from $67.00) on shares of Ameris Bancorp in a research note on Monday, February 3rd. Stephens reiterated an “equal weight” rating and issued a $71.00 price objective on shares of Ameris Bancorp in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods boosted their target price on Ameris Bancorp from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Ameris Bancorp presently has an average rating of “Moderate Buy” and an average price target of $70.50.

Ameris Bancorp Stock Performance

NASDAQ:ABCB opened at $57.58 on Tuesday. The business’s fifty day moving average price is $62.53 and its 200 day moving average price is $63.93. The firm has a market capitalization of $3.98 billion, a PE ratio of 11.05 and a beta of 1.02. Ameris Bancorp has a 12 month low of $44.23 and a 12 month high of $74.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00.

Ameris Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors 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 dividend on an annualized basis and a yield of 1.39%. Ameris Bancorp’s dividend payout ratio (DPR) is presently 15.36%.

Insider Buying and Selling at Ameris Bancorp

In other news, insider Douglas D. Strange acquired 1,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $56.95 per share, with a total value of $56,950.00. Following the completion of the acquisition, the insider now owns 19,403 shares of the company’s stock, valued at $1,105,000.85. The trade was a 5.43 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.50% of the stock is currently owned by insiders.

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.