GW&K Investment Management LLC lessened its stake in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 3.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 797,876 shares of the bank's stock after selling 26,017 shares during the period. GW&K Investment Management LLC owned 1.16% of Ameris Bancorp worth $45,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently bought and sold shares of the stock. Park Square Financial Group LLC acquired a new stake in Ameris Bancorp in the fourth quarter valued at about $37,000. Versant Capital Management Inc lifted its position in Ameris Bancorp by 84.1% in the first quarter. Versant Capital Management Inc now owns 731 shares of the bank's stock valued at $42,000 after purchasing an additional 334 shares during the period. Sterling Capital Management LLC lifted its position in Ameris Bancorp by 836.7% in the fourth quarter. Sterling Capital Management LLC now owns 2,117 shares of the bank's stock valued at $132,000 after purchasing an additional 1,891 shares during the period. Optimum Investment Advisors acquired a new stake in Ameris Bancorp in the first quarter valued at about $128,000. Finally, KBC Group NV lifted its position in Ameris Bancorp by 8.8% in the first quarter. KBC Group NV now owns 3,251 shares of the bank's stock valued at $187,000 after purchasing an additional 264 shares during the period. Institutional investors and hedge funds own 91.64% of the company's stock.
Analyst Ratings Changes
A number of research analysts have issued reports on the stock. Piper Sandler Companies increased their target price on shares of Ameris Bancorp to $74.00 and gave the company a "buy" rating in a report on Monday, April 7th. Raymond James Financial lowered 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. Stephens reaffirmed an "equal weight" rating and issued a $63.00 target price on shares of Ameris Bancorp in a research note on Tuesday, April 29th. Finally, Piper Sandler started coverage on shares of Ameris Bancorp in a research note on Friday, April 4th. They issued an "overweight" rating and a $74.00 target price for the company. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $71.43.
Read Our Latest Stock Report on ABCB
Ameris Bancorp Trading Down 1.0%
Shares of NASDAQ ABCB traded down $0.67 during trading on Monday, hitting $66.67. 251,657 shares of the company traded hands, compared to its average volume of 398,703. The company has a 50-day moving average price of $63.58 and a 200-day moving average price of $61.31. The company has a quick ratio of 1.00, a current ratio of 1.02 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 $74.56. The firm has a market capitalization of $4.59 billion, a P/E ratio of 12.80 and a beta of 0.93.
Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The bank reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.16. Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. The firm had revenue of $285.86 million during the quarter, compared to analysts' expectations of $276.06 million. During the same period in the prior year, the company earned $1.10 EPS. The firm's revenue was up 7.0% on a year-over-year basis. On average, equities analysts predict that Ameris Bancorp will post 4.99 EPS for the current year.
Ameris Bancorp Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, July 7th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.20%. Ameris Bancorp's dividend payout ratio (DPR) is presently 14.81%.
Ameris Bancorp Company Profile
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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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