Brandywine Global Investment Management LLC Reduces Stock Position in Ameris Bancorp (NASDAQ:ABCB)

Brandywine Global Investment Management LLC lowered its holdings in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 160,658 shares of the bank's stock after selling 7,411 shares during the quarter. Brandywine Global Investment Management LLC owned 0.23% of Ameris Bancorp worth $10,052,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ABCB. Oppenheimer Asset Management Inc. boosted its stake in shares of Ameris Bancorp by 4.5% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 3,880 shares of the bank's stock valued at $243,000 after purchasing an additional 167 shares during the period. GAMMA Investing LLC lifted its holdings in Ameris Bancorp by 17.9% during the 4th quarter. GAMMA Investing LLC now owns 1,332 shares of the bank's stock valued at $83,000 after buying an additional 202 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Ameris Bancorp by 4.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 5,174 shares of the bank's stock valued at $324,000 after buying an additional 238 shares during the period. Savant Capital LLC grew its stake in Ameris Bancorp by 3.8% in the 4th quarter. Savant Capital LLC now owns 7,371 shares of the bank's stock worth $461,000 after acquiring an additional 267 shares in the last quarter. Finally, Atria Investments Inc increased its position in shares of Ameris Bancorp by 3.4% during the fourth quarter. Atria Investments Inc now owns 9,124 shares of the bank's stock worth $571,000 after acquiring an additional 298 shares during the period. Institutional investors own 91.64% of the company's stock.

Insider Buying and Selling at Ameris Bancorp

In other Ameris Bancorp news, insider Douglas D. Strange acquired 1,000 shares of the firm's stock in a transaction dated 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 acquisition, the insider now owns 19,403 shares in the company, valued at approximately $1,105,000.85. This trade represents a 5.43 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ABCB has been the subject of a number of research reports. Stephens reiterated an "equal weight" rating and issued a $71.00 price target on shares of Ameris Bancorp in a report on Friday, January 31st. Raymond James reissued an "outperform" rating and set a $71.00 price target (up previously from $67.00) on shares of Ameris Bancorp in a research report on Monday, February 3rd. Finally, Piper Sandler assumed coverage on Ameris Bancorp in a report on Friday. They issued an "overweight" rating and a $74.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $73.33.

Ameris Bancorp Stock Down 2.7 %

Shares of ABCB traded down $1.42 during trading hours on Friday, hitting $50.64. The company had a trading volume of 730,445 shares, compared to its average volume of 375,750. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $3.50 billion, a PE ratio of 9.72 and a beta of 1.02. Ameris Bancorp has a one year low of $44.23 and a one year high of $74.56. The company's fifty day moving average price is $61.70 and its two-hundred day moving average price is $63.71.

Ameris Bancorp Dividend Announcement

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