Fort Washington Investment Advisors Inc. OH Invests $21.85 Million in Ameris Bancorp $ABCB

Key Points

• Fort Washington Investment Advisors Inc. OH invested approximately $21.85 million in Ameris Bancorp by acquiring 337,711 shares, representing a 0.49% stake in the company.
• Analysts have set a price target of $81.00 for Ameris Bancorp, with a consensus "Moderate Buy" rating and a target price of $72.14.
• Ameris Bancorp recently announced a quarterly dividend of $0.20 per share, delivering an annualized dividend yield of 1.1%.

Fort Washington Investment Advisors Inc. OH purchased a new stake in Ameris Bancorp (NASDAQ:ABCB - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 337,711 shares of the bank's stock, valued at approximately $21,850,000. Fort Washington Investment Advisors Inc. OH owned 0.49% of Ameris Bancorp at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. State of Alaska Department of Revenue grew its holdings in shares of Ameris Bancorp by 7.1% during the second quarter. State of Alaska Department of Revenue now owns 38,392 shares of the bank's stock valued at $2,483,000 after buying an additional 2,552 shares during the last quarter. Congress Asset Management Co. boosted its stake in Ameris Bancorp by 1.0% during the 2nd quarter. Congress Asset Management Co. now owns 943,041 shares of the bank's stock valued at $61,015,000 after purchasing an additional 9,548 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new stake in Ameris Bancorp during the 2nd quarter worth approximately $345,000. GAMMA Investing LLC raised its stake in shares of Ameris Bancorp by 52.5% in the second quarter. GAMMA Investing LLC now owns 1,777 shares of the bank's stock worth $115,000 after purchasing an additional 612 shares during the last quarter. Finally, Sowell Financial Services LLC bought a new position in shares of Ameris Bancorp in the second quarter valued at approximately $209,000. 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 target on Ameris Bancorp and gave the stock a "buy" rating in a report on Wednesday, July 30th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $72.14.

Ameris Bancorp Price Performance

Shares of NASDAQ ABCB opened at $74.78 on Monday. The company has a market capitalization of $5.13 billion, a PE ratio of 14.35 and a beta of 0.97. 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 stock's 50 day moving average price is $71.17 and its 200-day moving average price is $63.98. Ameris Bancorp has a twelve month low of $48.27 and a twelve month high of $76.58.

Ameris Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 6th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. Ameris Bancorp's dividend payout ratio (DPR) is currently 14.08%.

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.

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