Charles Schwab Investment Management Inc. Has $51.46 Million Position in Ameris Bancorp (NASDAQ:ABCB)

Charles Schwab Investment Management Inc. reduced its position in shares of Ameris Bancorp (NASDAQ:ABCB) by 2.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 893,931 shares of the bank’s stock after selling 23,465 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Ameris Bancorp were worth $51,464,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new stake in Ameris Bancorp in the fourth quarter worth $37,000. Versant Capital Management Inc boosted its holdings in Ameris Bancorp by 84.1% in the first quarter. Versant Capital Management Inc now owns 731 shares of the bank’s stock worth $42,000 after purchasing an additional 334 shares in the last quarter. Optimum Investment Advisors bought a new stake in Ameris Bancorp during the first quarter valued at about $128,000. Sterling Capital Management LLC boosted its holdings in Ameris Bancorp by 836.7% during the fourth quarter. Sterling Capital Management LLC now owns 2,117 shares of the bank’s stock valued at $132,000 after acquiring an additional 1,891 shares during the period. Finally, Meeder Asset Management Inc. boosted its holdings in Ameris Bancorp by 1,120.2% during the first quarter. Meeder Asset Management Inc. now owns 2,904 shares of the bank’s stock valued at $167,000 after acquiring an additional 2,666 shares during the period. 91.64% of the stock is owned by institutional investors and hedge funds.

Ameris Bancorp Stock Performance

NASDAQ:ABCB opened at $70.02 on Friday. Ameris Bancorp has a 12-month low of $48.27 and a 12-month high of $74.56. 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 firm has a market capitalization of $4.80 billion, a PE ratio of 13.44 and a beta of 0.96. The firm has a 50-day moving average price of $65.86 and a 200 day moving average price of $61.95.

Ameris Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 7th. Investors of record on Monday, June 30th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Monday, June 30th. Ameris Bancorp’s dividend payout ratio is 14.08%.

Analysts Set New Price Targets

ABCB has been the subject of a number of recent analyst reports. Stephens restated an “equal weight” rating and set a $63.00 price target on shares of Ameris Bancorp in a report on Tuesday, April 29th. DA Davidson set a $81.00 price target on shares of Ameris Bancorp and gave the company a “buy” rating in a report on Wednesday, July 30th. Finally, Raymond James Financial decreased their price target on shares of Ameris Bancorp from $71.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.14.

Ameris Bancorp Profile

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.