Vanguard Group Inc. Reduces Holdings in Ameris Bancorp $ABCB

Key Points

• Vanguard Group Inc. has reduced its holding in Ameris Bancorp by 0.2%, now owning 7,428,871 shares, valued at approximately $427.68 million.
• Ameris Bancorp recently announced a quarterly dividend of $0.20, representing an annualized dividend yield of 1.1% and a payout ratio of 14.08%.
• Wall Street analysts have mixed ratings on Ameris Bancorp, with an average target price of $72.14 and two analysts suggesting a hold rating out of eight total ratings.

Vanguard Group Inc. lowered its position in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) by 0.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,428,871 shares of the bank's stock after selling 11,990 shares during the period. Vanguard Group Inc. owned about 10.78% of Ameris Bancorp worth $427,680,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ABCB. LPL Financial LLC grew its stake in Ameris Bancorp by 11.1% in the fourth quarter. LPL Financial LLC now owns 7,215 shares of the bank's stock valued at $451,000 after purchasing an additional 721 shares during the last quarter. Franklin Resources Inc. purchased a new position in Ameris Bancorp in the fourth quarter valued at about $390,000. Wells Fargo & Company MN grew its stake in Ameris Bancorp by 41.6% in the fourth quarter. Wells Fargo & Company MN now owns 44,237 shares of the bank's stock valued at $2,768,000 after purchasing an additional 12,989 shares during the last quarter. Invesco Ltd. grew its stake in shares of Ameris Bancorp by 7.3% during the fourth quarter. Invesco Ltd. now owns 429,895 shares of the bank's stock worth $26,899,000 after acquiring an additional 29,281 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Ameris Bancorp during the fourth quarter worth about $2,016,000. Hedge funds and other institutional investors own 91.64% of the company's stock.

Ameris Bancorp Stock Performance

ABCB traded up $0.13 during trading on Tuesday, reaching $70.29. 150,497 shares of the company's stock were exchanged, compared to its average volume of 425,768. Ameris Bancorp has a 1 year low of $48.27 and a 1 year high of $74.56. The stock has a market capitalization of $4.82 billion, a P/E ratio of 13.49 and a beta of 0.96. The company's fifty day simple moving average is $66.01 and its 200-day simple moving average is $61.96. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Monday, June 30th were issued 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 yield of 1.1%. Ameris Bancorp's payout ratio is presently 14.08%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. DA Davidson set a $81.00 price target on Ameris Bancorp and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Raymond James Financial dropped their price target 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, 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. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Ameris Bancorp presently has a consensus rating of "Moderate Buy" and a consensus target price of $72.14.

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.