Prudential Financial Inc. Sells 9,051 Shares of Ameris Bancorp (NASDAQ:ABCB)

Prudential Financial Inc. lowered its holdings in Ameris Bancorp (NASDAQ:ABCB) by 5.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 172,622 shares of the bank’s stock after selling 9,051 shares during the quarter. Prudential Financial Inc. owned 0.25% of Ameris Bancorp worth $10,801,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ABCB. Picton Mahoney Asset Management boosted its stake in Ameris Bancorp by 2,436.8% during the fourth quarter. Picton Mahoney Asset Management now owns 482 shares of the bank’s stock worth $30,000 after buying an additional 463 shares in the last quarter. R Squared Ltd bought a new position in shares of Ameris Bancorp during the 4th quarter worth about $51,000. Blue Trust Inc. boosted its position in shares of Ameris Bancorp by 56.1% during the 4th quarter. Blue Trust Inc. now owns 1,113 shares of the bank’s stock valued at $69,000 after acquiring an additional 400 shares in the last quarter. GAMMA Investing LLC increased its stake in Ameris Bancorp by 17.9% in the fourth quarter. GAMMA Investing LLC now owns 1,332 shares of the bank’s stock valued at $83,000 after acquiring an additional 202 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in Ameris Bancorp by 167.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the bank’s stock worth $90,000 after purchasing an additional 896 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Activity at Ameris Bancorp

In related news, insider Douglas D. Strange acquired 1,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 19,403 shares of the company’s stock, valued at approximately $1,105,000.85. This trade represents a 5.43 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.50% of the stock is currently owned by company insiders.

Ameris Bancorp Trading Down 2.1 %

ABCB stock opened at $57.13 on Friday. The business has a fifty day moving average price of $62.67 and a 200 day moving average price of $63.88. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. Ameris Bancorp has a fifty-two week low of $44.23 and a fifty-two week high of $74.56. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 10.97 and a beta of 1.02.

Ameris Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 31st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.40%. Ameris Bancorp’s dividend payout ratio (DPR) is presently 15.36%.

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.