Segall Bryant & Hamill LLC Has $39.49 Million Stock Position in Ameris Bancorp (NASDAQ:ABCB)

Segall Bryant & Hamill LLC reduced its position in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 1.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 685,877 shares of the bank's stock after selling 11,446 shares during the period. Segall Bryant & Hamill LLC owned 1.00% of Ameris Bancorp worth $39,486,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Captrust Financial Advisors boosted its position 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 worth $249,000 after purchasing an additional 175 shares during the last quarter. Summit Investment Advisors Inc. boosted its position 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 worth $431,000 after purchasing an additional 218 shares during the last quarter. Synovus Financial Corp boosted its position 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 worth $877,000 after purchasing an additional 235 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Ameris Bancorp by 4.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 5,174 shares of the bank's stock worth $324,000 after purchasing an additional 238 shares during the last quarter. Finally, KBC Group NV lifted its holdings in Ameris Bancorp by 8.8% during the first quarter. KBC Group NV now owns 3,251 shares of the bank's stock worth $187,000 after acquiring an additional 264 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors.

Ameris Bancorp Stock Down 0.1%

Shares of ABCB traded down $0.04 during midday trading on Friday, hitting $67.34. The stock had a trading volume of 226,882 shares, compared to its average volume of 398,887. The company has a 50 day simple moving average of $63.58 and a two-hundred day simple moving average of $61.32. Ameris Bancorp has a twelve month low of $48.27 and a twelve month high of $74.56. The firm has a market cap of $4.64 billion, a price-to-earnings ratio of 12.92 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 (NASDAQ:ABCB - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The bank reported $1.28 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $285.86 million for the quarter, compared to the consensus estimate of $276.06 million. During the same quarter last year, the business posted $1.10 EPS. The company's revenue for the quarter was up 7.0% on a year-over-year basis. On average, analysts anticipate 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. Investors of record on Monday, June 30th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Monday, June 30th. Ameris Bancorp's dividend payout ratio is currently 14.81%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ABCB. Piper Sandler Companies lifted their target price on Ameris Bancorp to $74.00 and gave the stock a "buy" rating in a report on Monday, April 7th. Piper Sandler began coverage on Ameris Bancorp in a report on Friday, April 4th. They set an "overweight" rating and a $74.00 target price on the stock. Stephens reiterated an "equal weight" rating and set a $63.00 target price on shares of Ameris Bancorp in a report on Tuesday, April 29th. Finally, 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 report on Wednesday, April 30th. 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 presently has an average rating of "Moderate Buy" and a consensus price target of $71.43.

About Ameris Bancorp

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.