GW&K Investment Management LLC Purchases 132,381 Shares of Ameris Bancorp (NASDAQ:ABCB)

GW&K Investment Management LLC lifted its position in Ameris Bancorp (NASDAQ:ABCB) by 13.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,087,191 shares of the bank’s stock after acquiring an additional 132,381 shares during the quarter. GW&K Investment Management LLC owned approximately 1.56% of Ameris Bancorp worth $43,748,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quest Capital Management Inc. ADV bought a new stake in shares of Ameris Bancorp in the 3rd quarter worth $25,000. Truewealth LLC grew its position in Ameris Bancorp by 678.8% during the third quarter. Truewealth LLC now owns 1,176 shares of the bank’s stock valued at $47,000 after buying an additional 1,025 shares during the period. Versant Capital Management Inc grew its position in Ameris Bancorp by 33.8% during the third quarter. Versant Capital Management Inc now owns 1,184 shares of the bank’s stock valued at $47,000 after buying an additional 299 shares during the period. Tower Research Capital LLC TRC grew its position in Ameris Bancorp by 68.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,621 shares of the bank’s stock valued at $64,000 after buying an additional 658 shares during the period. Finally, LS Investment Advisors LLC grew its position in Ameris Bancorp by 42.0% during the third quarter. LS Investment Advisors LLC now owns 1,703 shares of the bank’s stock valued at $69,000 after buying an additional 504 shares during the period. Hedge funds and other institutional investors own 63.57% of the company’s stock.

NASDAQ ABCB traded up $0.04 during trading on Friday, hitting $44.44. 239,400 shares of the company’s stock traded hands, 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 quick ratio of 0.97 and a current ratio of 1.06. The business has a 50 day moving average of $41.31 and a 200-day moving average of $38.19. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of 13.15 and a beta of 1.50.

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

ABCB has been the subject of several research reports. Zacks Investment Research upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Piper Jaffray Companies set a $53.00 price target on shares of Ameris Bancorp and gave the company a “buy” rating in a research report on Friday, November 1st. BidaskClub lowered shares of Ameris Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Stephens set a $50.00 price target on shares of Ameris Bancorp and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, ValuEngine upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Friday. Two research 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 a consensus 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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