GW&K Investment Management LLC lowered its stake in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 3.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 797,876 shares of the bank's stock after selling 26,017 shares during the quarter. GW&K Investment Management LLC owned 1.16% of Ameris Bancorp worth $45,934,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. Captrust Financial Advisors increased its stake in shares of Ameris Bancorp by 4.6% in the 4th quarter. Captrust Financial Advisors now owns 3,975 shares of the bank's stock valued at $249,000 after acquiring an additional 175 shares in the last quarter. Summit Investment Advisors Inc. increased its stake in shares of Ameris Bancorp by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,887 shares of the bank's stock valued at $431,000 after acquiring an additional 218 shares in the last quarter. Synovus Financial Corp increased its stake in shares of Ameris Bancorp by 1.7% in the 4th quarter. Synovus Financial Corp now owns 14,020 shares of the bank's stock valued at $877,000 after acquiring an additional 235 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Ameris Bancorp by 4.8% during 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 in the last quarter. Finally, KBC Group NV increased its stake in Ameris Bancorp by 8.8% during the 1st quarter. KBC Group NV now owns 3,251 shares of the bank's stock valued at $187,000 after purchasing an additional 264 shares in the last quarter. Institutional investors own 91.64% of the company's stock.
Ameris Bancorp Stock Performance
Shares of NASDAQ:ABCB traded down $0.17 during mid-day trading on Thursday, reaching $66.31. 67,614 shares of the company traded hands, compared to its average volume of 410,749. The company's 50 day moving average price is $63.73 and its 200-day moving average price is $61.38. The firm has a market cap of $4.57 billion, a PE ratio of 12.73 and a beta of 0.93. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. Ameris Bancorp has a 52 week low of $48.27 and a 52 week high of $74.56.
Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The bank reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.16. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%. The business had revenue of $285.86 million during the quarter, compared to the consensus estimate of $276.06 million. During the same period in the prior year, the company posted $1.10 EPS. The firm's revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities analysts expect that Ameris Bancorp will post 4.99 EPS for the current fiscal year.
Ameris Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Monday, June 30th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.80 annualized dividend and a yield of 1.21%. Ameris Bancorp's payout ratio is 14.81%.
Analysts Set New Price Targets
ABCB has been the subject of a number of recent research reports. Piper Sandler initiated coverage on shares of Ameris Bancorp in a research note on Friday, April 4th. They set an "overweight" rating and a $74.00 price target for the company. Piper Sandler Companies boosted their price target on shares of Ameris Bancorp to $74.00 and gave the company a "buy" rating in a research note on Monday, April 7th. Stephens restated an "equal weight" rating and set a $63.00 price target on shares of Ameris Bancorp in a research note 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 for the company in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, Ameris Bancorp presently has an average rating of "Moderate Buy" and an average price target of $71.43.
Get Our Latest Stock Analysis on ABCB
About Ameris Bancorp
(
Free Report)
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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