Comerica Bank lessened its stake in Ameris Bancorp (NASDAQ:ABCB) by 4.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,113 shares of the bank’s stock after selling 3,457 shares during the quarter. Comerica Bank owned about 0.18% of Ameris Bancorp worth $3,208,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. LS Investment Advisors LLC raised its stake in Ameris Bancorp by 126.5% during the first quarter. LS Investment Advisors LLC now owns 2,901 shares of the bank’s stock worth $134,000 after acquiring an additional 1,620 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in Ameris Bancorp during the first quarter worth about $136,000. Victory Capital Management Inc. raised its stake in Ameris Bancorp by 1.6% during the first quarter. Victory Capital Management Inc. now owns 3,506 shares of the bank’s stock worth $162,000 after acquiring an additional 55 shares in the last quarter. First Interstate Bank raised its stake in Ameris Bancorp by 8.8% during the first quarter. First Interstate Bank now owns 3,845 shares of the bank’s stock worth $177,000 after acquiring an additional 310 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in Ameris Bancorp by 7.4% during the first quarter. State of Alaska Department of Revenue now owns 4,050 shares of the bank’s stock worth $186,000 after acquiring an additional 280 shares in the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.
In other Ameris Bancorp news, Director Leo J. Hill purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was purchased at an average price of $42.75 per share, for a total transaction of $42,750.00. Following the purchase, the director now directly owns 16,629 shares in the company, valued at $710,889.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.63% of the stock is owned by insiders.
Several research analysts have commented on the company. Zacks Investment Research raised Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Friday. BidaskClub cut Ameris Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Piper Jaffray Companies restated a “hold” rating and set a $48.00 price target on shares of Ameris Bancorp in a report on Friday, July 21st. ValuEngine upgraded Ameris Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Stephens restated a “buy” rating and set a $54.00 price target on shares of Ameris Bancorp in a report on Friday, July 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. Ameris Bancorp has a consensus rating of “Hold” and a consensus target price of $49.33.
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Ameris Bancorp (NASDAQ ABCB) traded up 0.35% during trading on Friday, hitting $43.35. The company’s stock had a trading volume of 479,900 shares. Ameris Bancorp has a 12 month low of $33.80 and a 12 month high of $51.28. The firm has a market cap of $1.61 billion, a P/E ratio of 18.62 and a beta of 1.29. The firm has a 50 day moving average of $44.18 and a 200 day moving average of $45.72.
Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings results on Friday, July 21st. The bank reported $0.63 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.02). Ameris Bancorp had a net margin of 22.66% and a return on equity of 12.52%. The business had revenue of $91.35 million during the quarter, compared to analysts’ expectations of $92.71 million. Equities research analysts predict that Ameris Bancorp will post $2.55 earnings per share for the current year.
About Ameris Bancorp
Ameris Bancorp is a financial holding company. The Company’s business is conducted through its banking subsidiary, Ameris Bank (the Bank), which provides a range of banking services to its retail and commercial customers. The Company operates through four segments: the Banking Division, the Retail Mortgage Division, the Warehouse Lending Division and the SBA Division.
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