GW&K Investment Management LLC Has $48.63 Million Position in Ameris Bancorp $ABCB

GW&K Investment Management LLC lowered its holdings in Ameris Bancorp (NASDAQ:ABCB) by 9.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 663,330 shares of the bank’s stock after selling 68,862 shares during the quarter. GW&K Investment Management LLC owned 0.97% of Ameris Bancorp worth $48,629,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ABCB. True Wealth Design LLC boosted its holdings in Ameris Bancorp by 2,311.8% during the second quarter. True Wealth Design LLC now owns 410 shares of the bank’s stock valued at $27,000 after purchasing an additional 393 shares in the last quarter. Salomon & Ludwin LLC bought a new position in shares of Ameris Bancorp during the 3rd quarter worth approximately $33,000. Covestor Ltd lifted its position in shares of Ameris Bancorp by 51.5% during the 3rd quarter. Covestor Ltd now owns 547 shares of the bank’s stock worth $40,000 after buying an additional 186 shares during the period. Allworth Financial LP boosted its stake in Ameris Bancorp by 1,567.6% in the 2nd quarter. Allworth Financial LP now owns 567 shares of the bank’s stock valued at $37,000 after buying an additional 533 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd grew its position in Ameris Bancorp by 395.4% in the third quarter. Aster Capital Management DIFC Ltd now owns 748 shares of the bank’s stock valued at $55,000 after acquiring an additional 597 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.

Ameris Bancorp Trading Up 0.3%

ABCB stock opened at $79.54 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. Ameris Bancorp has a twelve month low of $48.27 and a twelve month high of $87.98. The company has a market cap of $5.40 billion, a P/E ratio of 15.27 and a beta of 0.97. The business has a fifty day moving average of $80.27 and a 200-day moving average of $76.23.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings data on Thursday, January 29th. The bank reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.03. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.The firm had revenue of $309.92 million during the quarter, compared to analyst estimates of $310.48 million. During the same period last year, the company earned $1.38 earnings per share. As a group, equities research analysts expect that Ameris Bancorp will post 4.99 EPS for the current year.

Ameris Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Wednesday, December 31st were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, December 31st. Ameris Bancorp’s payout ratio is 13.33%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ABCB shares. Stephens increased their price objective on Ameris Bancorp from $79.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Monday, February 2nd. DA Davidson set a $94.00 target price on shares of Ameris Bancorp in a research report on Monday, February 2nd. Keefe, Bruyette & Woods lifted their price target on shares of Ameris Bancorp from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. Finally, Truist Financial upped their price objective on shares of Ameris Bancorp from $83.00 to $86.00 and gave the stock a “hold” rating in a research note on Monday, February 2nd. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $86.50.

Ameris Bancorp Company Profile

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.