Ameris Bancorp $ABCB Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. has decreased its stake in Ameris Bancorp by 2.6%, now owning 1.30% of the bank's shares valued at approximately $51.5 million.
• Ameris Bancorp announced a quarterly dividend of $0.20 per share, representing an annualized yield of 1.1% and a payout ratio of 14.08%.
• Analysts have set various price targets for Ameris Bancorp, with an average target of $72.14 and a consensus rating of "Moderate Buy".

Charles Schwab Investment Management Inc. lowered its position in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 2.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 893,931 shares of the bank's stock after selling 23,465 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.30% of Ameris Bancorp worth $51,464,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in ABCB. Park Square Financial Group LLC acquired a new stake in shares of Ameris Bancorp during the fourth quarter valued at about $37,000. Versant Capital Management Inc grew its stake in shares of Ameris Bancorp by 84.1% during the first quarter. Versant Capital Management Inc now owns 731 shares of the bank's stock valued at $42,000 after acquiring an additional 334 shares in the last quarter. Sterling Capital Management LLC grew its stake in shares of Ameris Bancorp by 836.7% during the fourth quarter. Sterling Capital Management LLC now owns 2,117 shares of the bank's stock valued at $132,000 after acquiring an additional 1,891 shares in the last quarter. Optimum Investment Advisors acquired a new stake in shares of Ameris Bancorp during the first quarter valued at about $128,000. Finally, Meeder Asset Management Inc. grew its stake in shares of Ameris Bancorp by 1,120.2% during the first quarter. Meeder Asset Management Inc. now owns 2,904 shares of the bank's stock valued at $167,000 after acquiring an additional 2,666 shares in the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.

Ameris Bancorp Stock Down 0.8%

NASDAQ:ABCB traded down $0.5690 during mid-day trading on Thursday, reaching $69.1010. The stock had a trading volume of 274,662 shares, compared to its average volume of 425,990. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of 13.26 and a beta of 0.96. Ameris Bancorp has a 1-year low of $48.27 and a 1-year high of $74.56. The stock's 50 day simple moving average is $66.43 and its two-hundred day simple moving average is $62.10. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Monday, June 30th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Monday, June 30th. Ameris Bancorp's payout ratio is presently 14.08%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ABCB shares. DA Davidson set a $81.00 target price on Ameris Bancorp and gave the company a "buy" rating in a research note on Wednesday, July 30th. Raymond James Financial decreased their price target on Ameris Bancorp from $71.00 to $65.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Finally, Stephens reiterated an "equal weight" rating and issued a $63.00 price target on shares of Ameris Bancorp in a research note on Tuesday, April 29th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $72.14.

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.