Vaughan Nelson Investment Management L.P. Invests $42.27 Million in Ameris Bancorp $ABCB

by · The Cerbat Gem

Vaughan Nelson Investment Management L.P. acquired a new stake in Ameris Bancorp (NASDAQ:ABCB – Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 541,995 shares of the bank’s stock, valued at approximately $42,270,000. Vaughan Nelson Investment Management L.P. owned about 0.79% of Ameris Bancorp at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Sound Income Strategies LLC acquired a new stake in shares of Ameris Bancorp in the 4th quarter valued at $29,000. Measured Wealth Private Client Group LLC bought a new position in Ameris Bancorp in the third quarter valued at about $45,000. Danske Bank A S acquired a new position in Ameris Bancorp during the third quarter worth about $51,000. Aster Capital Management DIFC Ltd lifted its holdings in shares of Ameris Bancorp by 395.4% in the third quarter. Aster Capital Management DIFC Ltd now owns 748 shares of the bank’s stock worth $55,000 after acquiring an additional 597 shares during the last quarter. Finally, Torren Management LLC acquired a new stake in shares of Ameris Bancorp in the 4th quarter valued at approximately $76,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ABCB shares. DA Davidson boosted their target price on shares of Ameris Bancorp from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Stephens upped their target price on shares of Ameris Bancorp from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Monday, April 27th. Raymond James Financial restated an “outperform” rating and set a $92.00 price target on shares of Ameris Bancorp in a report on Monday, April 27th. Finally, Truist Financial upped their price objective on shares of Ameris Bancorp from $85.00 to $89.00 and gave the stock a “hold” rating in a research report on Monday, April 27th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $90.17.

View Our Latest Analysis on ABCB

Ameris Bancorp Trading Up 0.1%

Shares of ABCB stock opened at $87.65 on Monday. The firm has a market cap of $5.90 billion, a P/E ratio of 16.82 and a beta of 0.91. Ameris Bancorp has a 12-month low of $60.53 and a 12-month high of $90.00. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average of $84.97 and a 200-day moving average of $80.95.

Ameris Bancorp (NASDAQ:ABCB – Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. The company had revenue of $314.36 million for the quarter, compared to analyst estimates of $309.58 million. Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. During the same quarter in the previous year, the firm posted $1.28 earnings per share. Sell-side analysts anticipate that Ameris Bancorp will post 4.99 earnings per share for the current year.

Ameris Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Tuesday, June 30th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Ameris Bancorp’s dividend payout ratio (DPR) is presently 12.58%.

About Ameris Bancorp

(Free Report)

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.

See Also

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