Texas Permanent School Fund grew its stake in Ameris Bancorp (NASDAQ:ABCB) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,790 shares of the bank’s stock after acquiring an additional 311 shares during the period. Texas Permanent School Fund’s holdings in Ameris Bancorp were worth $1,905,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quest Capital Management Inc. ADV bought a new position in shares of Ameris Bancorp in the 3rd quarter valued at about $25,000. Versant Capital Management Inc grew its holdings in shares of Ameris Bancorp by 33.8% in the 3rd quarter. Versant Capital Management Inc now owns 1,184 shares of the bank’s stock valued at $47,000 after acquiring an additional 299 shares in the last quarter. LS Investment Advisors LLC grew its holdings in shares of Ameris Bancorp by 42.0% in the 3rd quarter. LS Investment Advisors LLC now owns 1,703 shares of the bank’s stock valued at $69,000 after acquiring an additional 504 shares in the last quarter. AdvisorNet Financial Inc grew its holdings in shares of Ameris Bancorp by 55.6% in the 3rd quarter. AdvisorNet Financial Inc now owns 2,770 shares of the bank’s stock valued at $111,000 after acquiring an additional 990 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Ameris Bancorp by 38.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,234 shares of the bank’s stock worth $170,000 after purchasing an additional 1,173 shares during the period. Institutional investors own 82.55% of the company’s stock.
Shares of NASDAQ:ABCB traded down $0.22 during trading on Friday, hitting $41.22. 3,709 shares of the company were exchanged, compared to its average volume of 282,803. The business’s 50 day moving average is $42.04 and its 200-day moving average is $40.82. The company has a market capitalization of $2.87 billion, a P/E ratio of 14.46 and a beta of 1.47. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. Ameris Bancorp has a 1-year low of $32.91 and a 1-year high of $44.90.
In related news, insider James A. Lahaise sold 37,781 shares of the business’s stock in a transaction on 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 $1,971,937. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Elizabeth A. Mccague acquired 2,440 shares of Ameris Bancorp stock in a transaction that occurred on Tuesday, February 4th. The stock was acquired at an average cost of $42.53 per share, for a total transaction of $103,773.20. Following the purchase, the director now owns 10,132 shares of the company’s stock, valued at $430,913.96. The disclosure for this purchase can be found here. 2.00% of the stock is currently owned by corporate insiders.
A number of research firms recently commented on ABCB. Piper Jaffray Companies set a $53.00 price target on Ameris Bancorp and gave the stock a “buy” rating in a report on Friday, November 1st. TheStreet downgraded shares of Ameris Bancorp from a “b-” rating to a “c+” rating in a research report on Wednesday, December 11th. ValuEngine upgraded shares of Ameris Bancorp from a “strong sell” rating to a “sell” rating in a research report on Tuesday, January 28th. Stephens started coverage on shares of Ameris Bancorp in a research report on Friday, November 22nd. They set a “buy” rating and a $50.00 price objective for the company. Finally, SunTrust Banks boosted their price objective on shares of Ameris Bancorp from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. Ameris Bancorp presently has an average rating of “Hold” and an average price target of $47.60.
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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