Summit Creek Advisors LLC Takes $8.60 Million Position in Ameris Bancorp (NASDAQ:ABCB)

Summit Creek Advisors LLC bought a new stake in Ameris Bancorp (NASDAQ:ABCB) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 202,145 shares of the bank’s stock, valued at approximately $8,599,000. Summit Creek Advisors LLC owned 0.29% of Ameris Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABCB. Quest Capital Management Inc. ADV acquired a new position in Ameris Bancorp in the 3rd quarter valued at approximately $25,000. Truewealth LLC grew its holdings in shares of Ameris Bancorp by 678.8% during the 3rd quarter. Truewealth LLC now owns 1,176 shares of the bank’s stock worth $47,000 after purchasing an additional 1,025 shares in the last quarter. Versant Capital Management Inc increased its position in shares of 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 purchasing an additional 299 shares during the period. Tower Research Capital LLC TRC increased its position in shares of 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 purchasing an additional 658 shares during the period. Finally, LS Investment Advisors LLC increased its position in shares of 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 purchasing an additional 504 shares during the period. Institutional investors and hedge funds own 82.28% of the company’s stock.

In other news, insider James A. Lahaise sold 37,781 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $43.00, for a total value of $1,624,583.00. Following the sale, the insider now owns 45,859 shares of the company’s stock, valued at approximately $1,971,937. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is currently owned by insiders.

Shares of Ameris Bancorp stock traded up $0.45 during midday trading on Friday, hitting $43.55. 9,494 shares of the company were exchanged, compared to its average volume of 249,064. 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 firm has a market cap of $3.00 billion, a P/E ratio of 12.88 and a beta of 1.47. Ameris Bancorp has a 52 week low of $32.91 and a 52 week high of $44.90. The firm has a 50 day simple moving average of $43.13 and a 200-day simple moving average of $40.39.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings results on Friday, October 18th. The bank reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates 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 prior year, the business posted $0.91 earnings per share. The business’s revenue was up 74.8% compared to the same quarter last year. Equities research analysts expect that Ameris Bancorp will post 3.81 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were paid a $0.15 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.60 annualized dividend and a dividend yield of 1.38%. Ameris Bancorp’s dividend payout ratio is presently 17.75%.

Several research analysts recently commented on the company. Zacks Investment Research raised Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, January 6th. Stephens began coverage on shares of Ameris Bancorp in a report on Friday, November 22nd. They issued a “buy” rating and a $50.00 price target on the stock. ValuEngine cut shares of Ameris Bancorp from a “sell” rating to a “strong sell” rating in a research note on Monday, December 16th. BidaskClub downgraded shares of Ameris Bancorp from a “sell” rating to a “strong sell” rating in a report on Saturday, January 4th. Finally, Piper Jaffray Companies set a $53.00 price objective on shares of Ameris Bancorp and gave the stock a “buy” rating in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $47.60.

Ameris Bancorp 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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