Ameris Bancorp $ABCB Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lessened its holdings in Ameris Bancorp (NASDAQ:ABCB) by 4.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,242,528 shares of the bank’s stock after selling 150,669 shares during the quarter. Wellington Management Group LLP owned 4.71% of Ameris Bancorp worth $186,672,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Captrust Financial Advisors increased its holdings in shares of Ameris Bancorp by 4.6% during the fourth quarter. Captrust Financial Advisors now owns 3,975 shares of the bank’s stock valued at $249,000 after acquiring an additional 175 shares in the last quarter. KBC Group NV grew its position in Ameris Bancorp by 8.8% during the 1st quarter. KBC Group NV now owns 3,251 shares of the bank’s stock worth $187,000 after purchasing an additional 264 shares during the last quarter. Xponance Inc. increased its stake in Ameris Bancorp by 5.8% during the 1st quarter. Xponance Inc. now owns 5,001 shares of the bank’s stock valued at $288,000 after purchasing an additional 276 shares in the last quarter. HB Wealth Management LLC raised its holdings in shares of Ameris Bancorp by 5.7% in the first quarter. HB Wealth Management LLC now owns 5,941 shares of the bank’s stock worth $342,000 after buying an additional 319 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Ameris Bancorp by 84.1% in the first quarter. Versant Capital Management Inc now owns 731 shares of the bank’s stock worth $42,000 after buying an additional 334 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Ameris Bancorp Price Performance

NASDAQ:ABCB opened at $69.6550 on Thursday. The firm’s fifty day moving average is $66.29 and its two-hundred day moving average is $62.07. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of 13.37 and a beta of 0.96. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. Ameris Bancorp has a one year low of $48.27 and a one year high of $74.56.

Ameris Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 7th. Stockholders of record on Monday, June 30th were paid a $0.20 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. Ameris Bancorp’s dividend payout ratio is presently 14.08%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ABCB. DA Davidson set a $81.00 price objective on shares of Ameris Bancorp and gave the company a “buy” rating in a report on Wednesday, July 30th. Raymond James Financial dropped their price target on Ameris Bancorp from $71.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Finally, Stephens restated an “equal weight” rating and issued a $63.00 price objective on shares of Ameris Bancorp in a research note on Tuesday, April 29th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.14.

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.