Wells Fargo & Company MN Acquires 12,989 Shares of Ameris Bancorp (NASDAQ:ABCB)

Wells Fargo & Company MN boosted its holdings in shares of Ameris Bancorp (NASDAQ:ABCB) by 41.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 44,237 shares of the bank’s stock after purchasing an additional 12,989 shares during the quarter. Wells Fargo & Company MN owned about 0.06% of Ameris Bancorp worth $2,768,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ABCB. JPMorgan Chase & Co. lifted its holdings in shares of Ameris Bancorp by 30.7% in the fourth quarter. JPMorgan Chase & Co. now owns 952,058 shares of the bank’s stock worth $59,570,000 after buying an additional 223,805 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Ameris Bancorp by 4.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,263,487 shares of the bank’s stock worth $78,829,000 after purchasing an additional 55,473 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Ameris Bancorp by 2.5% during the 4th quarter. William Blair Investment Management LLC now owns 789,271 shares of the bank’s stock valued at $49,385,000 after purchasing an additional 19,150 shares during the last quarter. Intech Investment Management LLC increased its holdings in shares of Ameris Bancorp by 158.2% in the fourth quarter. Intech Investment Management LLC now owns 40,279 shares of the bank’s stock worth $2,520,000 after purchasing an additional 24,680 shares during the last quarter. Finally, Cibc World Markets Corp purchased a new stake in shares of Ameris Bancorp in the fourth quarter worth about $385,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

Ameris Bancorp Stock Performance

Shares of NASDAQ:ABCB opened at $55.52 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. Ameris Bancorp has a 12 month low of $45.89 and a 12 month high of $74.56. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 10.66 and a beta of 0.87. The firm’s 50-day moving average is $57.54 and its 200 day moving average is $62.71.

Ameris Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Monday, March 31st were paid a $0.20 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a yield of 1.44%. Ameris Bancorp’s payout ratio is 15.36%.

Analyst Ratings Changes

A number of research firms have issued reports on ABCB. Piper Sandler assumed coverage on Ameris Bancorp in a research note on Friday, April 4th. They issued an “overweight” rating and a $74.00 price objective on the stock. Piper Sandler Companies lifted their price objective on shares of Ameris Bancorp to $74.00 and gave the stock a “buy” rating in a research note on Monday, April 7th. Raymond James restated an “outperform” rating and set a $71.00 target price (up from $67.00) on shares of Ameris Bancorp in a research report on Monday, February 3rd. Finally, Stephens reiterated an “equal weight” rating and issued a $71.00 price target on shares of Ameris Bancorp in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $73.43.

Insider Transactions at Ameris Bancorp

In related news, insider Douglas D. Strange bought 1,000 shares of Ameris Bancorp stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $56.95 per share, with a total value of $56,950.00. Following the completion of the transaction, the insider now owns 19,403 shares in the company, valued at $1,105,000.85. The trade was a 5.43 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate 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.