Ellington Management Group LLC bought a new position in Ameris Bancorp (NASDAQ:ABCB) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,000 shares of the bank’s stock, valued at approximately $337,000.
Other hedge funds also recently added to or reduced their stakes in the company. Aperio Group LLC lifted its position in Ameris Bancorp by 145.0% in the 4th quarter. Aperio Group LLC now owns 10,436 shares of the bank’s stock worth $503,000 after buying an additional 6,177 shares in the last quarter. Swiss National Bank lifted its position in Ameris Bancorp by 4.2% in the 4th quarter. Swiss National Bank now owns 64,764 shares of the bank’s stock worth $3,122,000 after buying an additional 2,600 shares in the last quarter. Citadel Advisors LLC purchased a new stake in Ameris Bancorp in the 4th quarter worth approximately $1,222,000. Family Legacy Inc. acquired a new position in shares of Ameris Bancorp during the 4th quarter worth $590,000. Finally, Maltese Capital Management LLC increased its stake in shares of Ameris Bancorp by 4.0% during the 3rd quarter. Maltese Capital Management LLC now owns 581,101 shares of the bank’s stock worth $27,893,000 after purchasing an additional 22,201 shares during the last quarter. Institutional investors own 83.28% of the company’s stock.
Ameris Bancorp (ABCB) opened at $56.50 on Friday. Ameris Bancorp has a 12 month low of $41.05 and a 12 month high of $59.05. The company has a market cap of $2,160.62, a price-to-earnings ratio of 22.69 and a beta of 1.21. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 0.98.
Ameris Bancorp (NASDAQ:ABCB) last posted its earnings results on Friday, January 26th. The bank reported $0.63 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.63. Ameris Bancorp had a net margin of 18.44% and a return on equity of 11.73%. The business had revenue of $89.90 million for the quarter, compared to analyst estimates of $96.28 million. During the same period last year, the business posted $0.63 EPS. Ameris Bancorp’s revenue was up 3.1% compared to the same quarter last year. research analysts forecast that Ameris Bancorp will post 3.49 earnings per share for the current year.
ABCB has been the topic of several analyst reports. Zacks Investment Research lowered shares of Ameris Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, March 12th. BidaskClub lowered shares of Ameris Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Sandler O’Neill set a $57.00 price target on shares of Ameris Bancorp and gave the stock a “hold” rating in a research note on Monday, January 29th. ValuEngine upgraded shares of Ameris Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, SunTrust Banks increased their price target on shares of Ameris Bancorp from $10.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Ameris Bancorp presently has an average rating of “Buy” and an average target price of $55.33.
In other Ameris Bancorp news, insider Edwin W. Hortman, Jr. sold 20,336 shares of the firm’s stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $56.41, for a total value of $1,147,153.76. Following the sale, the insider now directly owns 246,961 shares in the company, valued at approximately $13,931,070.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edwin W. Hortman, Jr. sold 10,000 shares of the firm’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $57.49, for a total transaction of $574,900.00. The disclosure for this sale can be found here. Insiders sold a total of 46,159 shares of company stock worth $2,575,646 over the last quarter. 3.63% of the stock is currently owned by company insiders.
Ameris Bancorp Company Profile
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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