Ameris Bancorp (NASDAQ:ABCB) Shares Sold by American Century Companies Inc.

American Century Companies Inc. lowered its position in Ameris Bancorp (NASDAQ:ABCB) by 9.7% in the second quarter, Holdings Channel.com reports. The firm owned 2,154,827 shares of the bank’s stock after selling 232,084 shares during the quarter. American Century Companies Inc.’s holdings in Ameris Bancorp were worth $108,496,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in ABCB. GAMMA Investing LLC lifted its holdings in shares of Ameris Bancorp by 66.1% in the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the bank’s stock valued at $41,000 after buying an additional 326 shares during the period. CWM LLC raised its position in Ameris Bancorp by 33.5% in the second quarter. CWM LLC now owns 1,310 shares of the bank’s stock worth $66,000 after acquiring an additional 329 shares in the last quarter. Arizona State Retirement System lifted its holdings in Ameris Bancorp by 1.8% in the second quarter. Arizona State Retirement System now owns 18,359 shares of the bank’s stock valued at $924,000 after acquiring an additional 331 shares during the period. Texas Permanent School Fund Corp boosted its position in shares of Ameris Bancorp by 1.0% during the 1st quarter. Texas Permanent School Fund Corp now owns 56,626 shares of the bank’s stock worth $2,740,000 after purchasing an additional 554 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC grew its stake in shares of Ameris Bancorp by 1.7% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 35,931 shares of the bank’s stock worth $1,809,000 after purchasing an additional 593 shares during the period. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on ABCB. Stephens raised their price objective on shares of Ameris Bancorp from $52.00 to $64.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Truist Financial lifted their price target on shares of Ameris Bancorp from $54.00 to $69.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods upped their price target on Ameris Bancorp from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Finally, DA Davidson raised their price objective on Ameris Bancorp from $61.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $66.20.

Ameris Bancorp Stock Up 3.0 %

ABCB stock opened at $61.05 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.05 and a quick ratio of 1.03. The company’s 50 day simple moving average is $58.38 and its 200-day simple moving average is $51.43. Ameris Bancorp has a 12 month low of $34.26 and a 12 month high of $64.88. The firm has a market capitalization of $4.22 billion, a PE ratio of 14.85 and a beta of 1.02.

Ameris Bancorp (NASDAQ:ABCB) last announced its earnings results on Thursday, July 25th. The bank reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.03. The firm had revenue of $436.03 million for the quarter, compared to analysts’ expectations of $273.67 million. Ameris Bancorp had a return on equity of 8.97% and a net margin of 19.28%. During the same quarter in the prior year, the firm earned $0.91 EPS. Equities analysts expect that Ameris Bancorp will post 4.82 earnings per share for the current fiscal year.

About Ameris Bancorp

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.