Thrivent Financial For Lutherans lessened its stake in Ameris Bancorp (NASDAQ:ABCB) by 36.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 137,485 shares of the bank’s stock after selling 78,026 shares during the quarter. Thrivent Financial For Lutherans owned about 0.37% of Ameris Bancorp worth $6,627,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in Ameris Bancorp by 3.8% in the 4th quarter. BlackRock Inc. now owns 4,746,644 shares of the bank’s stock worth $228,788,000 after acquiring an additional 171,889 shares during the period. Bank of New York Mellon Corp boosted its holdings in Ameris Bancorp by 18.6% in the 4th quarter. Bank of New York Mellon Corp now owns 880,352 shares of the bank’s stock worth $42,433,000 after acquiring an additional 138,217 shares during the period. Kennedy Capital Management Inc. boosted its holdings in Ameris Bancorp by 30.5% in the 4th quarter. Kennedy Capital Management Inc. now owns 684,375 shares of the bank’s stock worth $32,987,000 after acquiring an additional 160,148 shares during the period. Maltese Capital Management LLC boosted its stake in shares of Ameris Bancorp by 2.0% during the 4th quarter. Maltese Capital Management LLC now owns 592,663 shares of the bank’s stock valued at $28,566,000 after buying an additional 11,562 shares during the last quarter. Finally, Oak Ridge Investments LLC boosted its stake in shares of Ameris Bancorp by 228.9% during the 3rd quarter. Oak Ridge Investments LLC now owns 542,628 shares of the bank’s stock valued at $26,046,000 after buying an additional 377,628 shares during the last quarter. Hedge funds and other institutional investors own 83.28% of the company’s stock.
Ameris Bancorp (NASDAQ ABCB) opened at $56.50 on Thursday. The company has a market capitalization of $2,195.01, a P/E ratio of 28.39 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 has a one year low of $41.05 and a one year high of $59.05.
Ameris Bancorp (NASDAQ:ABCB) last released its earnings results on Friday, January 26th. The bank reported $0.63 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.63. The company had revenue of $89.90 million during the quarter, compared to analysts’ expectations of $96.28 million. Ameris Bancorp had a return on equity of 11.73% and a net margin of 18.44%. The business’s revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 EPS. sell-side analysts anticipate that Ameris Bancorp will post 3.49 earnings per share for the current year.
Several research firms have recently commented on ABCB. Zacks Investment Research cut Ameris Bancorp from a “hold” rating to a “sell” rating in a research note on Monday. BidaskClub upgraded Ameris Bancorp from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 9th. Sandler O’Neill set a $57.00 target price on Ameris Bancorp and gave the company a “hold” rating in a research note on Monday, January 29th. SunTrust Banks increased their target price on Ameris Bancorp from $10.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, January 29th. Finally, ValuEngine upgraded Ameris Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Ameris Bancorp has a consensus rating of “Buy” and a consensus price target of $55.33.
In related news, COO Dennis J. Zember, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $54.81, for a total transaction of $274,050.00. Following the sale, the chief operating officer now directly owns 156,063 shares of the company’s stock, valued at approximately $8,553,813.03. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Lawton E. Bassett III sold 823 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $53.15, for a total value of $43,742.45. Following the sale, the president now directly owns 19,408 shares in the company, valued at $1,031,535.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,159 shares of company stock worth $2,575,646. Corporate insiders own 3.63% of the company’s stock.
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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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