Monarch Partners Asset Management LLC reduced its position in shares of Ameris Bancorp (NASDAQ:ABCB) by 62.3% during the first quarter, HoldingsChannel reports. The firm owned 143,540 shares of the bank’s stock after selling 237,380 shares during the period. Monarch Partners Asset Management LLC’s holdings in Ameris Bancorp were worth $4,931,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Toronto Dominion Bank bought a new stake in Ameris Bancorp in the fourth quarter worth about $26,000. Versant Capital Management Inc raised its position in Ameris Bancorp by 1,124.7% in the first quarter. Versant Capital Management Inc now owns 1,090 shares of the bank’s stock worth $37,000 after acquiring an additional 1,001 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in Ameris Bancorp in the fourth quarter worth about $56,000. Quantamental Technologies LLC bought a new stake in Ameris Bancorp in the fourth quarter worth about $83,000. Finally, Stephens Inc. AR raised its position in Ameris Bancorp by 28.6% in the fourth quarter. Stephens Inc. AR now owns 3,497 shares of the bank’s stock worth $111,000 after acquiring an additional 777 shares during the period. 85.34% of the stock is currently owned by institutional investors.
ABCB has been the topic of several research reports. BidaskClub lowered shares of Ameris Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, May 20th. Zacks Investment Research lowered shares of Ameris Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. SunTrust Banks upgraded shares of Ameris Bancorp from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research note on Tuesday, January 29th. Finally, Stephens reiterated a “buy” rating and issued a $58.00 target price on shares of Ameris Bancorp in a research note on Monday, January 28th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. Ameris Bancorp currently has an average rating of “Hold” and a consensus price target of $51.50.
Ameris Bancorp (NASDAQ:ABCB) last posted its earnings results on Tuesday, April 23rd. The bank reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). The business had revenue of $130.20 million during the quarter, compared to analysts’ expectations of $130.90 million. Ameris Bancorp had a return on equity of 11.24% and a net margin of 23.09%. Ameris Bancorp’s revenue for the quarter was up 36.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.73 EPS. On average, sell-side analysts expect that Ameris Bancorp will post 4 earnings per share for the current fiscal year.
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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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