Brandywine Global Investment Management LLC Sells 6,010 Shares of Ameris Bancorp (NASDAQ:ABCB)

Key Points

• Brandywine Global Investment Management LLC reduced its stake in Ameris Bancorp by 3.7%, selling 6,010 shares to hold a total of 154,648 shares valued at approximately $8,903,000.
• Ameris Bancorp recently announced a quarterly dividend of $0.20 per share, resulting in an annualized payout of $0.80 and a yield of 1.1%.
• Two analysts rated Ameris Bancorp's stock as a hold, while six have assigned a buy rating, with a consensus price target of $72.14.

Brandywine Global Investment Management LLC lowered its position in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 154,648 shares of the bank's stock after selling 6,010 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.22% of Ameris Bancorp worth $8,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in ABCB. LPL Financial LLC lifted its stake in Ameris Bancorp by 11.1% in the fourth quarter. LPL Financial LLC now owns 7,215 shares of the bank's stock worth $451,000 after purchasing an additional 721 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Ameris Bancorp by 41.6% in the fourth quarter. Wells Fargo & Company MN now owns 44,237 shares of the bank's stock worth $2,768,000 after purchasing an additional 12,989 shares during the last quarter. Invesco Ltd. lifted its stake in Ameris Bancorp by 7.3% in the fourth quarter. Invesco Ltd. now owns 429,895 shares of the bank's stock worth $26,899,000 after purchasing an additional 29,281 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Ameris Bancorp in the fourth quarter worth about $2,016,000. Finally, Sterling Capital Management LLC increased its position 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 worth $132,000 after acquiring an additional 1,891 shares during the period. Institutional investors own 91.64% of the company's stock.

Ameris Bancorp Stock Down 1.8%

Ameris Bancorp stock opened at $70.02 on Friday. The business has a fifty day moving average of $65.86 and a two-hundred day moving average of $61.95. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The firm has a market cap of $4.80 billion, a P/E ratio of 13.44 and a beta of 0.96. Ameris Bancorp has a twelve month low of $48.27 and a twelve month high of $74.56.

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 issued a dividend of $0.20 per share. The ex-dividend date was Monday, June 30th. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. Ameris Bancorp's dividend payout ratio is currently 14.08%.

Wall Street Analysts Forecast Growth

ABCB has been the topic of a number of research reports. DA Davidson set a $81.00 target price on shares of Ameris Bancorp and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Stephens reaffirmed an "equal weight" rating and set a $63.00 target price on shares of Ameris Bancorp in a research report on Tuesday, April 29th. Finally, Raymond James Financial reduced 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. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.

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