Canada Pension Plan Investment Board Has $4.67 Million Stock Position in Ameris Bancorp (NASDAQ:ABCB)

Canada Pension Plan Investment Board boosted its holdings in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 143.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 74,700 shares of the bank's stock after acquiring an additional 44,000 shares during the period. Canada Pension Plan Investment Board owned 0.11% of Ameris Bancorp worth $4,674,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in shares of Ameris Bancorp by 107.7% in the third quarter. Barclays PLC now owns 140,001 shares of the bank's stock valued at $8,735,000 after buying an additional 72,599 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in Ameris Bancorp during the third quarter valued at about $210,000. Principal Financial Group Inc. increased its holdings in shares of Ameris Bancorp by 4.6% in the third 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 9.1% in the third quarter. JPMorgan Chase & Co. now owns 728,253 shares of the bank's stock worth $45,436,000 after purchasing an additional 60,448 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position 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 acquiring an additional 202 shares in the last quarter. Institutional investors own 91.64% of the company's stock.

Ameris Bancorp Stock Up 1.7 %

Shares of ABCB stock traded up $0.96 during mid-day trading on Monday, reaching $56.98. 537,186 shares of the company were exchanged, compared to its average volume of 390,139. Ameris Bancorp has a fifty-two week low of $45.89 and a fifty-two week high of $74.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. The company has a market capitalization of $3.93 billion, a P/E ratio of 10.94 and a beta of 0.87. The business's 50 day simple moving average is $56.97 and its 200 day simple moving average is $62.64.

Ameris Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Monday, March 31st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend was Monday, March 31st. Ameris Bancorp's payout ratio is 15.36%.

Analyst Ratings Changes

Several research firms recently commented on ABCB. Piper Sandler started coverage on Ameris Bancorp in a research report on Friday, April 4th. They set an "overweight" rating and a $74.00 price objective 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 report on Monday, February 3rd. Stephens reiterated an "equal weight" rating and issued a $71.00 target price on shares of Ameris Bancorp in a research note on Friday, January 31st. Finally, Piper Sandler Companies lifted their target price on shares of Ameris Bancorp to $74.00 and gave the company a "buy" rating in a report on Monday, April 7th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $73.43.

Insider Buying and Selling

In related news, insider Douglas D. Strange bought 1,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $56.95 per share, for a total transaction of $56,950.00. Following the transaction, the insider now directly 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 purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 5.50% of the company's stock.

About Ameris Bancorp

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.