William Blair Investment Management LLC Sells 57,197 Shares of Ameris Bancorp $ABCB

Key Points

• William Blair Investment Management LLC has reduced its stake in Ameris Bancorp by 7.6%, selling 57,197 shares and retaining 697,361 shares valued at approximately $45 million.
• Ameris Bancorp recently announced a quarterly dividend of $0.20 per share, resulting in an annualized dividend yield of 1.1%.
• Analysts have a consensus rating of "Moderate Buy" for Ameris Bancorp, with a target price set at $72.14 by six analysts.

William Blair Investment Management LLC lowered its position in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 7.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 697,361 shares of the bank's stock after selling 57,197 shares during the period. William Blair Investment Management LLC owned about 1.01% of Ameris Bancorp worth $45,119,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Farther Finance Advisors LLC increased its position in shares of Ameris Bancorp by 73.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 492 shares of the bank's stock valued at $32,000 after buying an additional 208 shares in the last quarter. Bayforest Capital Ltd acquired a new position in Ameris Bancorp in the 2nd quarter worth $68,000. GAMMA Investing LLC boosted its stake in Ameris Bancorp by 52.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,777 shares of the bank's stock worth $115,000 after purchasing an additional 612 shares during the period. Optimum Investment Advisors acquired a new position in Ameris Bancorp in the 1st quarter worth $128,000. Finally, State of Wyoming boosted its stake in Ameris Bancorp by 8.3% in the 1st quarter. State of Wyoming now owns 2,346 shares of the bank's stock worth $135,000 after purchasing an additional 179 shares during the period. Institutional investors own 91.64% of the company's stock.

Ameris Bancorp Price Performance

Shares of NASDAQ ABCB opened at $70.93 on Friday. The company has a fifty day moving average price of $73.01 and a 200 day moving average price of $65.52. Ameris Bancorp has a 1-year low of $48.27 and a 1-year high of $76.58. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The firm has a market cap of $4.87 billion, a PE ratio of 13.61 and a beta of 0.94.

Ameris Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 6th. Stockholders of record on Tuesday, September 30th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Tuesday, September 30th. Ameris Bancorp's dividend payout ratio is currently 14.08%.

Analyst Upgrades and Downgrades

Separately, DA Davidson set a $81.00 target price on shares of Ameris Bancorp and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Ameris Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $72.14.

Ameris Bancorp 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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