Ameris Bancorp (NASDAQ:ABCB) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its position in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 802,930 shares of the bank's stock after selling 52,616 shares during the quarter. Victory Capital Management Inc. owned about 1.17% of Ameris Bancorp worth $46,225,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ABCB. Raymond James Financial Inc. purchased a new stake in shares of Ameris Bancorp during the 4th quarter valued at approximately $2,016,000. HighTower Advisors LLC acquired a new stake in Ameris Bancorp in the 4th quarter valued at approximately $552,000. Swiss National Bank increased its holdings in Ameris Bancorp by 0.6% in the 4th quarter. Swiss National Bank now owns 129,044 shares of the bank's stock valued at $8,074,000 after purchasing an additional 800 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in Ameris Bancorp by 12.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 6,948 shares of the bank's stock valued at $435,000 after purchasing an additional 771 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in Ameris Bancorp by 4.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 5,174 shares of the bank's stock valued at $324,000 after purchasing an additional 238 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company's stock.

Ameris Bancorp Stock Down 0.5%

Shares of ABCB stock traded down $0.35 on Wednesday, reaching $66.52. 486,298 shares of the stock were exchanged, compared to its average volume of 397,034. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The business's 50 day moving average price is $63.73 and its 200 day moving average price is $61.38. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of 12.77 and a beta of 0.93. Ameris Bancorp has a twelve month low of $48.27 and a twelve month high of $74.56.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last issued its earnings results on Monday, April 28th. The bank reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.16. The firm had revenue of $285.86 million during the quarter, compared to the consensus estimate of $276.06 million. Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. The company's revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.10 earnings per share. As a group, sell-side analysts expect that Ameris Bancorp will post 4.99 earnings per share for the current fiscal year.

Ameris Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 7th. Investors of record on Monday, June 30th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.20%. Ameris Bancorp's payout ratio is currently 14.81%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Piper Sandler Companies lifted their target price on shares of Ameris Bancorp to $74.00 and gave the company a "buy" rating in a report on Monday, April 7th. Piper Sandler assumed coverage on shares of Ameris Bancorp in a report on Friday, April 4th. They issued an "overweight" rating and a $74.00 target price for the company. Raymond James Financial dropped their target price on shares of Ameris Bancorp from $71.00 to $65.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Finally, Stephens reiterated an "equal weight" rating and issued a $63.00 target price on shares of Ameris Bancorp in a report on Tuesday, April 29th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $71.43.

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.