GW&K Investment Management LLC acquired a new position in shares of Ameris Bancorp (NASDAQ:ABCB) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 594,999 shares of the company’s stock, valued at approximately $17,671,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kennedy Capital Management Inc. boosted its position in Ameris Bancorp by 2.6% in the first quarter. Kennedy Capital Management Inc. now owns 508,027 shares of the company’s stock worth $15,027,000 after buying an additional 12,782 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Ameris Bancorp by 594.6% in the first quarter. Goldman Sachs Group Inc. now owns 597,273 shares of the company’s stock worth $17,667,000 after buying an additional 511,290 shares during the last quarter. Consector Capital LP boosted its position in Ameris Bancorp by 58.1% in the first quarter. Consector Capital LP now owns 122,400 shares of the company’s stock worth $3,621,000 after buying an additional 45,000 shares during the last quarter. NWQ Investment Management Company LLC boosted its position in Ameris Bancorp by 88.9% in the first quarter. NWQ Investment Management Company LLC now owns 1,183,493 shares of the company’s stock worth $35,008,000 after buying an additional 556,948 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its position in Ameris Bancorp by 2.7% in the first quarter. BlackRock Fund Advisors now owns 1,864,546 shares of the company’s stock worth $55,153,000 after buying an additional 49,573 shares during the last quarter. 80.12% of the stock is owned by institutional investors.
Ameris Bancorp (NASDAQ:ABCB) traded up 0.69% during trading on Wednesday, reaching $34.80. 185,785 shares of the company were exchanged. The stock has a 50 day moving average price of $34.61 and a 200 day moving average price of $31.61. The firm has a market capitalization of $1.21 billion, a PE ratio of 18.68 and a beta of 1.29. Ameris Bancorp has a 12 month low of $24.96 and a 12 month high of $36.20.
Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings results on Friday, July 22nd. The company reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.04. Ameris Bancorp had a net margin of 19.56% and a return on equity of 12.02%. On average, analysts expect that Ameris Bancorp will post $2.12 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 11th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.10 per share. This is an increase from Ameris Bancorp’s previous quarterly dividend of $0.05. This represents a $0.40 annualized dividend and a yield of 1.15%. The ex-dividend date is Wednesday, September 28th. Ameris Bancorp’s dividend payout ratio (DPR) is 10.81%.
A number of research firms have weighed in on ABCB. Sandler O’Neill cut shares of Ameris Bancorp from a “buy” rating to a “hold” rating and lifted their price objective for the company from $36.00 to $38.00 in a report on Tuesday. Zacks Investment Research cut shares of Ameris Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 27th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Ameris Bancorp from $31.00 to $35.00 and gave the stock a “market perform” rating in a research note on Monday, July 25th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $33.75.
About Ameris Bancorp
Ameris Bancorp is a financial holding company. The Company’s business is conducted through its banking subsidiary, Ameris Bank (the Bank), which provides a range of banking services to its retail and commercial customers. The Company operates through four segments: the Banking Division, the Retail Mortgage Division, the Warehouse Lending Division and the SBA Division.
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