Nuveen LLC Takes Position in Ameris Bancorp $ABCB

Key Points

• Nuveen LLC acquired 976,240 shares of Ameris Bancorp, valued at approximately $56.2 million, representing about 1.42% of the company's stock as of the latest filing with the SEC.
• Ameris Bancorp declared a quarterly dividend of $0.20 per share, with a dividend yield of 1.1% and a payout ratio of 14.08%.
• Several investment analysts provide a consensus rating of "Moderate Buy" for Ameris Bancorp, with a target price averaging $72.14.

Nuveen LLC bought a new stake in Ameris Bancorp (NASDAQ:ABCB - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 976,240 shares of the bank's stock, valued at approximately $56,202,000. Nuveen LLC owned 1.42% of Ameris Bancorp as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Jennison Associates LLC grew its position in shares of Ameris Bancorp by 189.7% during the first quarter. Jennison Associates LLC now owns 502,690 shares of the bank's stock worth $28,940,000 after acquiring an additional 329,196 shares during the last quarter. North Reef Capital Management LP grew its position in shares of Ameris Bancorp by 8.9% during the fourth quarter. North Reef Capital Management LP now owns 2,533,000 shares of the bank's stock worth $158,490,000 after acquiring an additional 208,000 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of Ameris Bancorp by 150.3% during the fourth quarter. Point72 Asset Management L.P. now owns 288,300 shares of the bank's stock worth $18,039,000 after acquiring an additional 173,106 shares during the last quarter. Emerald Advisers LLC purchased a new position in shares of Ameris Bancorp during the first quarter worth approximately $7,833,000. Finally, Algert Global LLC grew its position in shares of Ameris Bancorp by 136.2% during the fourth quarter. Algert Global LLC now owns 196,964 shares of the bank's stock worth $12,324,000 after acquiring an additional 113,571 shares during the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Ameris Bancorp Price Performance

Ameris Bancorp stock traded down $0.0350 during midday trading on Tuesday, reaching $70.1250. The company's stock had a trading volume of 75,763 shares, compared to its average volume of 425,280. Ameris Bancorp has a fifty-two week low of $48.27 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 stock's 50 day simple moving average is $66.01 and its 200 day simple moving average is $61.96. The firm has a market capitalization of $4.81 billion, a PE ratio of 13.46 and a beta of 0.96.

Ameris Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 7th. Stockholders of record on Monday, June 30th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, June 30th. Ameris Bancorp's payout ratio is 14.08%.

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.