Rhumbline Advisers decreased its holdings in Ameris Bancorp (NASDAQ:ABCB) by 2.7% in the 3rd quarter, Holdings Channel reports. The firm owned 101,312 shares of the bank’s stock after selling 2,810 shares during the quarter. Rhumbline Advisers’ holdings in Ameris Bancorp were worth $4,630,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of ABCB. BlackRock Inc. increased its stake in shares of Ameris Bancorp by 14.6% in the 2nd quarter. BlackRock Inc. now owns 5,583,722 shares of the bank’s stock valued at $297,890,000 after buying an additional 710,335 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Ameris Bancorp by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,639,172 shares of the bank’s stock valued at $87,451,000 after buying an additional 24,674 shares during the period. Angelo Gordon & CO. L.P. acquired a new stake in shares of Ameris Bancorp in the 2nd quarter valued at $78,187,000. Bank of New York Mellon Corp increased its stake in shares of Ameris Bancorp by 1.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 804,157 shares of the bank’s stock valued at $42,901,000 after buying an additional 15,052 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Ameris Bancorp by 2.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 693,255 shares of the bank’s stock valued at $31,682,000 after buying an additional 17,277 shares during the period. Hedge funds and other institutional investors own 84.43% of the company’s stock.
NASDAQ ABCB opened at $37.44 on Friday. The firm has a market capitalization of $1.82 billion, a PE ratio of 12.73 and a beta of 1.12. Ameris Bancorp has a 52 week low of $37.04 and a 52 week high of $59.05. The company has a quick ratio of 0.99, a current ratio of 1.01 and a debt-to-equity ratio of 0.53.
Several research firms have recently commented on ABCB. ValuEngine cut Ameris Bancorp from a “sell” rating to a “strong sell” rating in a research note on Friday. BidaskClub cut Ameris Bancorp from a “sell” rating to a “strong sell” rating in a research note on Friday. Piper Jaffray Companies set a $50.00 target price on Ameris Bancorp and gave the company a “hold” rating in a research note on Monday, November 26th. TheStreet raised Ameris Bancorp from a “c+” rating to a “b-” rating in a research note on Tuesday, November 13th. Finally, Stephens reissued a “buy” rating and issued a $58.00 target price on shares of Ameris Bancorp in a research note on Monday, October 22nd. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $57.00.
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About Ameris Bancorp
Ameris Bancorp operates as the 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, Small Business Administration Division, and Premium Finance Division.
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