Royce & Associates LP Boosts Stock Position in Ameris Bancorp (NASDAQ:ABCB)

Royce & Associates LP raised its position in Ameris Bancorp (NASDAQ:ABCBGet Rating) by 2.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 36,032 shares of the bank’s stock after buying an additional 977 shares during the quarter. Royce & Associates LP owned about 0.05% of Ameris Bancorp worth $1,581,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in ABCB. River Oaks Capital LLC purchased a new position in Ameris Bancorp in the fourth quarter valued at about $3,184,000. American Century Companies Inc. grew its position in shares of Ameris Bancorp by 0.4% in the fourth quarter. American Century Companies Inc. now owns 1,759,755 shares of the bank’s stock valued at $87,425,000 after purchasing an additional 7,729 shares during the period. Geode Capital Management LLC increased its stake in Ameris Bancorp by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 1,185,179 shares of the bank’s stock valued at $58,879,000 after purchasing an additional 39,578 shares during the last quarter. Nuveen Asset Management LLC increased its stake in Ameris Bancorp by 1.8% in the fourth quarter. Nuveen Asset Management LLC now owns 1,079,517 shares of the bank’s stock valued at $53,630,000 after purchasing an additional 18,748 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Ameris Bancorp by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 530,452 shares of the bank’s stock worth $26,353,000 after buying an additional 27,241 shares during the last quarter. 88.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Raymond James lowered their price target on Ameris Bancorp from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Thursday, July 7th.

Ameris Bancorp Price Performance

Shares of ABCB opened at $47.27 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.00 and a debt-to-equity ratio of 0.18. Ameris Bancorp has a 52 week low of $38.22 and a 52 week high of $56.63. The stock has a 50 day moving average of $42.81 and a 200-day moving average of $44.70. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 9.81 and a beta of 1.19.

Ameris Bancorp (NASDAQ:ABCBGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The bank reported $1.30 EPS for the quarter, topping the consensus estimate of $1.19 by $0.11. Ameris Bancorp had a net margin of 31.45% and a return on equity of 10.78%. During the same quarter last year, the company earned $1.25 earnings per share. As a group, analysts forecast that Ameris Bancorp will post 5.01 EPS for the current year.

Ameris Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 8th. Investors of record on Thursday, June 30th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Wednesday, June 29th. Ameris Bancorp’s payout ratio is currently 12.45%.

About Ameris Bancorp

(Get Rating)

Ameris Bancorp operates as the bank holding company for Ameris Bank that provides range of banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, North Carolina, and South Carolina. The company operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division.

Further Reading

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Institutional Ownership by Quarter for Ameris Bancorp (NASDAQ:ABCB)

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