Dynamic Technology Lab Private Ltd Has $629,000 Stake in Ameris Bancorp $ABCB

Key Points

• Dynamic Technology Lab Private Ltd sold 8,179 shares of Ameris Bancorp, reducing its position by 42.8%, and now holds 10,931 shares valued at $629,000.
• Several institutional investors, including Nuveen LLC, made significant investments in Ameris Bancorp during the first quarter, with Nuveen acquiring shares worth approximately $56.2 million.
• Analysts have set a target price of $81.00 for Ameris Bancorp, maintaining a consensus rating of "Moderate Buy" across the board.

Dynamic Technology Lab Private Ltd lessened its stake in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 42.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,931 shares of the bank's stock after selling 8,179 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Ameris Bancorp were worth $629,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. American Century Companies Inc. raised its stake in Ameris Bancorp by 36.2% during the first quarter. American Century Companies Inc. now owns 1,875,194 shares of the bank's stock worth $107,955,000 after acquiring an additional 498,604 shares in the last quarter. Nuveen LLC acquired a new position in Ameris Bancorp during the first quarter worth about $56,202,000. Congress Asset Management Co. raised its stake in Ameris Bancorp by 13.6% during the first quarter. Congress Asset Management Co. now owns 933,493 shares of the bank's stock worth $53,741,000 after acquiring an additional 111,939 shares in the last quarter. FJ Capital Management LLC increased its stake in shares of Ameris Bancorp by 311.3% in the first quarter. FJ Capital Management LLC now owns 785,288 shares of the bank's stock valued at $45,209,000 after buying an additional 594,340 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Ameris Bancorp by 2.9% in the first quarter. Northern Trust Corp now owns 731,836 shares of the bank's stock valued at $42,132,000 after buying an additional 20,355 shares during the period. Institutional investors and hedge funds own 91.64% of the company's stock.

Wall Street Analyst Weigh In

Separately, DA Davidson set a $81.00 price objective on shares of Ameris Bancorp and gave the company a "buy" rating in a report on Wednesday, July 30th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $72.14.

Ameris Bancorp Trading Down 0.3%

NASDAQ:ABCB traded down $0.20 on Monday, reaching $74.18. 85,267 shares of the stock traded hands, compared to its average volume of 420,718. The firm has a market capitalization of $5.09 billion, a price-to-earnings ratio of 14.24 and a beta of 0.97. The company's 50 day moving average is $69.62 and its 200-day moving average is $62.89. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. Ameris Bancorp has a 1-year low of $48.27 and a 1-year high of $75.46.

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.