American Century Companies Inc. Purchases 498,604 Shares of Ameris Bancorp $ABCB

Key Points

• American Century Companies Inc. increased its holdings in Ameris Bancorp by 36.2% during the first quarter, owning approximately 2.72% of the company valued at $107.96 million.
• Ameris Bancorp declared a quarterly dividend of $0.20 per share, with an annualized yield of 1.1% and a payout ratio of 14.08%.
• Analyst ratings for Ameris Bancorp show a consensus of "Moderate Buy" with a target price of $72.14, reflecting interest from multiple brokerages.

American Century Companies Inc. lifted its stake in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 36.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,875,194 shares of the bank's stock after purchasing an additional 498,604 shares during the period. American Century Companies Inc. owned 2.72% of Ameris Bancorp worth $107,955,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ABCB. Nuveen LLC acquired a new position in shares of Ameris Bancorp during the 1st quarter worth approximately $56,202,000. Jennison Associates LLC grew its holdings in Ameris Bancorp by 189.7% in the 1st quarter. Jennison Associates LLC now owns 502,690 shares of the bank's stock valued at $28,940,000 after buying an additional 329,196 shares in the last quarter. North Reef Capital Management LP grew its holdings in Ameris Bancorp by 8.9% in the 4th quarter. North Reef Capital Management LP now owns 2,533,000 shares of the bank's stock valued at $158,490,000 after buying an additional 208,000 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in Ameris Bancorp by 150.3% in the 4th quarter. Point72 Asset Management L.P. now owns 288,300 shares of the bank's stock valued at $18,039,000 after buying an additional 173,106 shares in the last quarter. Finally, Emerald Advisers LLC acquired a new position in Ameris Bancorp in the 1st quarter valued at $7,833,000. 91.64% of the stock is owned by institutional investors and hedge funds.

Ameris Bancorp Price Performance

Shares of ABCB stock traded up $3.2870 on Friday, hitting $72.3770. 169,021 shares of the company's stock were exchanged, compared to its average volume of 424,380. 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 12 month low of $48.27 and a 12 month high of $74.56. The stock has a market cap of $4.96 billion, a P/E ratio of 13.89 and a beta of 0.96. The company has a 50 day moving average of $66.43 and a 200 day moving average of $62.10.

Ameris Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Monday, June 30th were given a $0.20 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.80 annualized dividend and a yield of 1.1%. Ameris Bancorp's dividend payout ratio (DPR) is currently 14.08%.

Wall Street Analyst Weigh In

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

Ameris Bancorp Company 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.