Invesco Ltd. Decreases Stake in Ameris Bancorp $ABCB

Key Points

• Invesco Ltd. has decreased its stake in Ameris Bancorp by 9.7%, now holding approximately 0.56% of the company worth about $22.4 million.
• Analysts have provided varied price targets for Ameris Bancorp, with a consensus target of $72.14 and ratings ranging from "buy" to "equal weight."
• A quarterly dividend of $0.20 was recently announced, reflecting an annualized dividend yield of 1.1%.

Invesco Ltd. reduced its stake in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 9.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 388,312 shares of the bank's stock after selling 41,583 shares during the period. Invesco Ltd. owned about 0.56% of Ameris Bancorp worth $22,355,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Park Square Financial Group LLC purchased a new position in Ameris Bancorp in the 4th quarter worth approximately $37,000. Versant Capital Management Inc increased its stake in Ameris Bancorp by 84.1% in the 1st quarter. Versant Capital Management Inc now owns 731 shares of the bank's stock worth $42,000 after purchasing an additional 334 shares during the period. Optimum Investment Advisors purchased a new position in Ameris Bancorp in the 1st quarter worth approximately $128,000. Meeder Asset Management Inc. increased its stake in Ameris Bancorp by 1,120.2% in the 1st quarter. Meeder Asset Management Inc. now owns 2,904 shares of the bank's stock worth $167,000 after purchasing an additional 2,666 shares during the period. Finally, KBC Group NV increased its stake in Ameris Bancorp by 8.8% in the 1st quarter. KBC Group NV now owns 3,251 shares of the bank's stock worth $187,000 after purchasing an additional 264 shares during the period. 91.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on ABCB. Stephens reaffirmed an "equal weight" rating and issued a $63.00 price target on shares of Ameris Bancorp in a research note on Tuesday, April 29th. Raymond James Financial reduced their target price on Ameris Bancorp from $71.00 to $65.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Finally, DA Davidson set a $81.00 target price on Ameris Bancorp and gave the company a "buy" rating in a report on Wednesday, July 30th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $72.14.

Ameris Bancorp Price Performance

Shares of Ameris Bancorp stock opened at $69.6550 on Thursday. 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 company has a market cap of $4.78 billion, a PE ratio of 13.37 and a beta of 0.96. The business has a 50 day moving average of $66.29 and a 200 day moving average of $62.07. Ameris Bancorp has a 52 week low of $48.27 and a 52 week high of $74.56.

Ameris Bancorp Dividend Announcement

The company 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Monday, June 30th. Ameris Bancorp's dividend payout ratio (DPR) is presently 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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