Sei Investments Co. Cuts Stock Position in Ameris Bancorp (NASDAQ:ABCB)

Sei Investments Co. decreased its holdings in Ameris Bancorp (NASDAQ:ABCB) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 291,316 shares of the bank’s stock after selling 2,568 shares during the quarter. Sei Investments Co. owned 0.42% of Ameris Bancorp worth $14,668,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ABCB. 1620 Investment Advisors Inc. acquired a new position in shares of Ameris Bancorp in the second quarter worth $33,000. GAMMA Investing LLC grew its stake in Ameris Bancorp by 66.1% during the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the bank’s stock worth $41,000 after purchasing an additional 326 shares in the last quarter. CWM LLC increased its holdings in Ameris Bancorp by 33.5% during the 2nd quarter. CWM LLC now owns 1,310 shares of the bank’s stock worth $66,000 after purchasing an additional 329 shares during the period. Innealta Capital LLC acquired a new stake in Ameris Bancorp in the 2nd quarter valued at about $143,000. Finally, SG Americas Securities LLC acquired a new stake in Ameris Bancorp in the 1st quarter valued at about $190,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

Ameris Bancorp Stock Up 0.4 %

Shares of NASDAQ:ABCB opened at $61.46 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.03 and a debt-to-equity ratio of 0.30. The firm has a 50 day simple moving average of $59.79 and a 200-day simple moving average of $52.44. The company has a market capitalization of $4.25 billion, a PE ratio of 14.95 and a beta of 1.02. Ameris Bancorp has a twelve month low of $34.26 and a twelve month high of $65.40.

Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings data on Thursday, July 25th. The bank reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.03. Ameris Bancorp had a net margin of 19.28% and a return on equity of 8.97%. The company had revenue of $436.03 million during the quarter, compared to the consensus estimate of $273.67 million. During the same quarter in the prior year, the firm posted $0.91 earnings per share. On average, equities analysts predict that Ameris Bancorp will post 4.82 EPS for the current fiscal year.

Ameris Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 30th will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, September 30th. This represents a $0.60 dividend on an annualized basis and a yield of 0.98%. Ameris Bancorp’s dividend payout ratio is presently 14.60%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ABCB. DA Davidson upped their target price on shares of Ameris Bancorp from $61.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods raised their price objective on shares of Ameris Bancorp from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Truist Financial lifted their price objective on shares of Ameris Bancorp from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Finally, Stephens increased their target price on Ameris Bancorp from $52.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Ameris Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

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.