William Blair Investment Management LLC Invests $22.91 Million in Ameris Bancorp $ABCB

Key Points

• William Blair Investment Management initiated a $22.91 million position in Ameris Bancorp, buying 253,806 shares, or approximately 0.38% of the company. Institutional investors and hedge funds collectively own 91.60% of ABCB.
• Analyst sentiment is mixed, with three Buy ratings and four Holds; the consensus rating is Hold, with an average price target of $91.67. ABCB recently traded at $86.14.
• Ameris Bancorp reported quarterly EPS of $1.60, below the $1.66 consensus estimate, while revenue of $317.78 million also missed expectations. The company maintains a quarterly dividend of $0.20 per share, equivalent to a 0.9% annualized yield.

William Blair Investment Management LLC purchased a new stake in Ameris Bancorp (NASDAQ:ABCB - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 253,806 shares of the bank's stock, valued at approximately $22,909,000. William Blair Investment Management LLC owned 0.38% of Ameris Bancorp as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABCB. GAMMA Investing LLC boosted its position in Ameris Bancorp by 5.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,546 shares of the bank's stock worth $230,000 after purchasing an additional 125 shares during the period. Inspire Investing LLC grew its holdings in Ameris Bancorp by 2.0% during the 4th quarter. Inspire Investing LLC now owns 6,308 shares of the bank's stock worth $468,000 after acquiring an additional 125 shares in the last quarter. Maryland State Retirement & Pension System grew its stake in Ameris Bancorp by 1.4% in the fourth quarter. Maryland State Retirement & Pension System now owns 9,365 shares of the bank's stock worth $696,000 after purchasing an additional 133 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Ameris Bancorp by 1.6% in the 4th quarter. HighTower Advisors LLC now owns 9,054 shares of the bank's stock worth $672,000 after acquiring an additional 143 shares in the last quarter. Finally, Lido Advisors LLC increased its stake in Ameris Bancorp by 2.6% during the fourth quarter. Lido Advisors LLC now owns 6,456 shares of the bank's stock valued at $476,000 after purchasing an additional 162 shares during the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ABCB. Stephens set a $88.00 price objective on shares of Ameris Bancorp in a research report on Monday, July 27th. Morgan Stanley raised shares of Ameris Bancorp to an "overweight" rating in a report on Wednesday, June 24th. DA Davidson lifted their target price on Ameris Bancorp from $98.00 to $100.00 and gave the company a "buy" rating in a research note on Monday, July 27th. Raymond James Financial lowered Ameris Bancorp from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 1st. Finally, Piper Sandler dropped their price target on Ameris Bancorp from $96.00 to $92.00 and set a "neutral" rating on the stock in a research report on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Ameris Bancorp has a consensus rating of "Hold" and an average price target of $91.67.

Ameris Bancorp Stock Performance

Shares of ABCB opened at $86.14 on Friday. The firm has a fifty day moving average of $88.96 and a 200-day moving average of $84.45. The company has a market cap of $5.78 billion, a price-to-earnings ratio of 16.53 and a beta of 0.92. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. Ameris Bancorp has a 1 year low of $68.80 and a 1 year high of $93.22.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $1.60 earnings per share for the quarter, missing analysts' consensus estimates of $1.66 by ($0.06). The firm had revenue of $317.78 million during the quarter, compared to analyst estimates of $323.78 million. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.During the same period last year, the business earned $1.59 EPS. As a group, equities analysts anticipate that Ameris Bancorp will post 4.99 earnings per share for the current year.

Ameris Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Tuesday, June 30th were given a $0.20 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.80 annualized dividend and a yield of 0.9%. Ameris Bancorp's dividend payout ratio is 14.47%.

About Ameris Bancorp

Ameris Bancorp is a bank holding company headquartered in Atlanta, Georgia. Through its principal subsidiary, Ameris Bank, the company offers a broad range of commercial and retail banking services to individuals, small businesses, middle market companies and agricultural customers. Its core business lines encompass deposit services, lending solutions, treasury management, mortgage origination and servicing, insurance products and wealth management.

Ameris Bancorp operates a network of branches and loan production offices across the southeastern United States, including Georgia, Alabama, Florida, North Carolina, South Carolina and Tennessee.

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