Intech Investment Management LLC Acquires 24,680 Shares of Ameris Bancorp (NASDAQ:ABCB)

Intech Investment Management LLC boosted its holdings in shares of Ameris Bancorp (NASDAQ:ABCB) by 158.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,279 shares of the bank’s stock after purchasing an additional 24,680 shares during the quarter. Intech Investment Management LLC owned about 0.06% of Ameris Bancorp worth $2,520,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. lifted its position in shares of Ameris Bancorp by 4.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 3,880 shares of the bank’s stock worth $243,000 after acquiring an additional 167 shares during the period. GAMMA Investing LLC lifted its position in shares of Ameris Bancorp by 17.9% in the 4th quarter. GAMMA Investing LLC now owns 1,332 shares of the bank’s stock worth $83,000 after acquiring an additional 202 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in shares of Ameris Bancorp by 4.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 5,174 shares of the bank’s stock worth $324,000 after acquiring an additional 238 shares during the period. Savant Capital LLC lifted its position in shares of Ameris Bancorp by 3.8% in the 4th quarter. Savant Capital LLC now owns 7,371 shares of the bank’s stock worth $461,000 after acquiring an additional 267 shares during the period. Finally, Atria Investments Inc lifted its position in shares of Ameris Bancorp by 3.4% in the 4th quarter. Atria Investments Inc now owns 9,124 shares of the bank’s stock worth $571,000 after acquiring an additional 298 shares during the period. Institutional investors own 91.64% of the company’s stock.

Insider Buying and Selling at Ameris Bancorp

In related news, insider Douglas D. Strange bought 1,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average cost of $56.95 per share, with a total value of $56,950.00. Following the transaction, the insider now directly owns 19,403 shares in the company, valued at approximately $1,105,000.85. This trade represents a 5.43 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

ABCB has been the subject of several analyst reports. Raymond James restated an “outperform” rating and set a $71.00 target price (up previously from $67.00) on shares of Ameris Bancorp in a research report on Monday, February 3rd. Keefe, Bruyette & Woods raised their target price on Ameris Bancorp from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Stephens restated an “equal weight” rating and set a $71.00 target price on shares of Ameris Bancorp in a research report on Friday, January 31st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Ameris Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $70.50.

Ameris Bancorp Trading Up 0.4 %

Shares of NASDAQ:ABCB opened at $57.99 on Thursday. The company has a market capitalization of $4.00 billion, a P/E ratio of 11.13 and a beta of 1.02. Ameris Bancorp has a 1 year low of $44.23 and a 1 year high of $74.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. The business’s 50 day simple moving average is $63.23 and its 200 day simple moving average is $64.01.

About Ameris Bancorp

Ameris Bancorp operates as the bank holding company for Ameris Bank that provides range of banking services to retail and commercial customers. It operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division. The company offers commercial and retail checking, regular interest-bearing savings, money market, individual retirement, and certificates of deposit accounts.