Wellington Management Group LLP Sells 168,969 Shares of Ameris Bancorp (NASDAQ:ABCB)

Wellington Management Group LLP lowered its position in shares of Ameris Bancorp (NASDAQ:ABCB) by 4.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Principal Financial Group Inc. grew its position in shares of Ameris Bancorp by 4.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,263,487 shares of the bank’s stock worth $78,829,000 after buying an additional 55,473 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Ameris Bancorp by 30.7% in the 4th quarter. JPMorgan Chase & Co. now owns 952,058 shares of the bank’s stock valued at $59,570,000 after buying an additional 223,805 shares during the period. Charles Schwab Investment Management Inc. increased its position in Ameris Bancorp by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 917,396 shares of the bank’s stock valued at $57,401,000 after buying an additional 10,256 shares in the last quarter. Congress Asset Management Co. increased its holdings in shares of Ameris Bancorp by 1.5% during the fourth quarter. Congress Asset Management Co. now owns 821,554 shares of the bank’s stock valued at $51,405,000 after acquiring an additional 12,216 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its holdings in shares of Ameris Bancorp by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 789,271 shares of the bank’s stock worth $49,385,000 after purchasing an additional 19,150 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Ameris Bancorp Price Performance

Ameris Bancorp stock opened at $57.89 on Thursday. The stock has a market cap of $4.00 billion, a P/E ratio of 11.11 and a beta of 1.02. 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 company’s 50 day moving average price is $62.22 and its two-hundred day moving average price is $63.86. Ameris Bancorp has a 52 week low of $44.23 and a 52 week high of $74.56.

Ameris Bancorp Announces Dividend

The firm also recently disclosed 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 1.38%. Ameris Bancorp’s dividend payout ratio is currently 15.36%.

Insider Buying and Selling at Ameris Bancorp

In related news, insider Douglas D. Strange purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average cost of $56.95 per share, with a total value of $56,950.00. Following the acquisition, the insider now owns 19,403 shares of the company’s stock, valued at $1,105,000.85. This represents a 5.43 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.50% of the company’s stock.

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.