Fort Washington Investment Advisors Inc. OH Sells 37,116 Shares of Ameris Bancorp $ABCB

Key Points

• Fort Washington Investment Advisors cut its Ameris Bancorp stake by 9.9% in the third quarter, selling 37,116 shares and retaining 337,539 shares valued at approximately $26.8 million.
• Institutional ownership remains high at 91.6%, with several major investors—including BlackRock and North Reef Capital Management—holding or increasing sizable positions.
• Ameris Bancorp reported quarterly EPS of $1.60, below the $1.66 consensus estimate, while analysts maintained a generally positive outlook with a “Moderate Buy” consensus and a $90.67 average price target.

Fort Washington Investment Advisors Inc. OH lessened its position in Ameris Bancorp (NYSE:ABCB - Free Report) by 9.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 337,539 shares of the bank's stock after selling 37,116 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned about 0.50% of Ameris Bancorp worth $26,841,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ABCB. BlackRock Inc. acquired a new position in Ameris Bancorp during the 2nd quarter worth $881,798,000. North Reef Capital Management LP grew its position in shares of Ameris Bancorp by 25.1% in the first quarter. North Reef Capital Management LP now owns 3,423,243 shares of the bank's stock valued at $266,979,000 after purchasing an additional 686,215 shares during the last quarter. Congress Asset Management Co. grew its position in shares of Ameris Bancorp by 0.9% in the third quarter. Congress Asset Management Co. now owns 1,202,889 shares of the bank's stock valued at $95,654,000 after purchasing an additional 10,619 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Ameris Bancorp by 9.4% in the first quarter. Principal Financial Group Inc. now owns 1,057,347 shares of the bank's stock worth $82,463,000 after purchasing an additional 90,883 shares during the period. Finally, Davis Asset Management L.P. bought a new position in shares of Ameris Bancorp in the second quarter worth about $56,124,000. Institutional investors own 91.60% of the company's stock.

Ameris Bancorp Price Performance

Shares of Ameris Bancorp stock opened at $79.67 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.04 and a quick ratio of 1.02. The company has a market cap of $5.35 billion, a PE ratio of 14.41 and a beta of 0.96. The firm has a fifty day moving average price of $83.89 and a two-hundred day moving average price of $85.33. Ameris Bancorp has a fifty-two week low of $68.80 and a fifty-two week high of $93.22.

Ameris Bancorp (NYSE:ABCB - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.06). The company had revenue of $317.78 million for the quarter, compared to the consensus estimate of $323.78 million. Ameris Bancorp had a return on equity of 10.62% and a net margin of 21.98%. During the same quarter in the previous year, the firm posted $1.59 EPS. Analysts expect that Ameris Bancorp will post 6.61 EPS for the current year.

Ameris Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 5th. Investors of record on Wednesday, September 30th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. Ameris Bancorp's dividend payout ratio (DPR) is 14.47%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Morgan Stanley raised Ameris Bancorp to an "overweight" rating in a research report on Wednesday, June 24th. Stephens set a $88.00 target price on Ameris Bancorp in a report on Monday, July 27th. DA Davidson lifted their price target on Ameris Bancorp from $98.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. Weiss Ratings started coverage on Ameris Bancorp in a research report on Wednesday, September 2nd. They issued a "buy (b)" rating on the stock. Finally, Wall Street Zen lowered Ameris Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, September 26th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $90.67.

About Ameris Bancorp

Ameris Bancorp NYSE: ABCB is a financial holding company whose principal subsidiary, Ameris Bank, provides banking and financial services to individuals, businesses and institutions. The bank offers deposit accounts, commercial and consumer lending, residential mortgages, treasury and payment services, wealth management and other financial solutions.

Founded in 1971, Ameris Bank has grown from a community banking institution in Georgia into a regional bank serving customers across the southeastern United States.

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