GW&K Investment Management LLC Boosts Holdings in Ameris Bancorp (NASDAQ:ABCB)

GW&K Investment Management LLC lifted its stake in Ameris Bancorp (NASDAQ:ABCB) by 13.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,087,191 shares of the bank’s stock after buying an additional 132,381 shares during the quarter. GW&K Investment Management LLC’s holdings in Ameris Bancorp were worth $43,748,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Stephens Inc. AR raised its position in shares of Ameris Bancorp by 281.8% in the 2nd quarter. Stephens Inc. AR now owns 14,344 shares of the bank’s stock worth $562,000 after purchasing an additional 10,587 shares during the last quarter. Bank of America Corp DE raised its position in shares of Ameris Bancorp by 19.6% in the 2nd quarter. Bank of America Corp DE now owns 358,493 shares of the bank’s stock worth $14,050,000 after purchasing an additional 58,756 shares during the last quarter. WCM Investment Management LLC raised its position in shares of Ameris Bancorp by 19.7% in the 2nd quarter. WCM Investment Management LLC now owns 31,200 shares of the bank’s stock worth $1,223,000 after purchasing an additional 5,132 shares during the last quarter. Jennison Associates LLC raised its position in shares of Ameris Bancorp by 2.1% in the 2nd quarter. Jennison Associates LLC now owns 967,428 shares of the bank’s stock worth $37,914,000 after purchasing an additional 19,600 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Ameris Bancorp by 23.9% in the 2nd quarter. BlackRock Inc. now owns 7,510,872 shares of the bank’s stock worth $294,351,000 after purchasing an additional 1,450,551 shares during the last quarter. 63.57% of the stock is owned by hedge funds and other institutional investors.

NASDAQ ABCB traded up $0.04 during trading hours on Friday, hitting $44.44. The company’s stock had a trading volume of 239,400 shares, compared to its average volume of 402,537. Ameris Bancorp has a 12 month low of $29.97 and a 12 month high of $45.25. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.06 and a quick ratio of 0.97. The company has a market cap of $3.06 billion, a P/E ratio of 13.15 and a beta of 1.50. The company’s 50 day simple moving average is $41.31 and its two-hundred day simple moving average is $38.19.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings data on Friday, October 18th. The bank reported $0.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.03. Ameris Bancorp had a return on equity of 11.71% and a net margin of 19.46%. The firm had revenue of $225.80 million for the quarter, compared to analysts’ expectations of $213.84 million. During the same period in the previous year, the firm earned $0.91 EPS. The business’s quarterly revenue was up 74.8% on a year-over-year basis. As a group, research analysts predict that Ameris Bancorp will post 3.81 earnings per share for the current fiscal year.

ABCB has been the subject of several recent analyst reports. Piper Jaffray Companies set a $53.00 price target on Ameris Bancorp and gave the stock a “buy” rating in a research report on Friday, November 1st. ValuEngine raised Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Friday. BidaskClub lowered Ameris Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Thursday. SunTrust Banks lowered their price target on Ameris Bancorp from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Finally, Zacks Investment Research raised Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $46.60.

Ameris Bancorp Company Profile

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

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

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