Oak Ridge Investments LLC acquired a new stake in Ameris Bancorp (NASDAQ:ABCB) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 165,000 shares of the bank’s stock, valued at approximately $7,953,000. Oak Ridge Investments LLC owned 0.44% of Ameris Bancorp at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Municipal Employees Retirement System of Michigan raised its position in shares of Ameris Bancorp by 1.8% in the first quarter. Municipal Employees Retirement System of Michigan now owns 7,980 shares of the bank’s stock valued at $368,000 after purchasing an additional 140 shares during the period. Mendon Capital Advisors Corp raised its position in shares of Ameris Bancorp by 28.8% in the first quarter. Mendon Capital Advisors Corp now owns 515,030 shares of the bank’s stock valued at $23,743,000 after purchasing an additional 115,030 shares during the period. Next Century Growth Investors LLC bought a new position in shares of Ameris Bancorp in the first quarter valued at about $14,552,000. BlackRock Inc. raised its position in shares of Ameris Bancorp by 83,097.4% in the first quarter. BlackRock Inc. now owns 4,668,206 shares of the bank’s stock valued at $215,205,000 after purchasing an additional 4,662,595 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Ameris Bancorp by 13.3% in the first quarter. Legal & General Group Plc now owns 65,071 shares of the bank’s stock valued at $2,999,000 after purchasing an additional 7,615 shares during the period. 82.41% of the stock is currently owned by institutional investors.
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Several equities analysts have recently weighed in on ABCB shares. Stephens reissued a “buy” rating and issued a $54.00 price objective on shares of Ameris Bancorp in a research report on Friday, July 21st. ValuEngine raised shares of Ameris Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $51.00 price objective on shares of Ameris Bancorp in a research report on Monday, June 26th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $48.00 price objective on shares of Ameris Bancorp in a research report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $49.33.
In other Ameris Bancorp news, Director Leo J. Hill acquired 1,000 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were acquired at an average cost of $42.75 per share, with a total value of $42,750.00. Following the completion of the acquisition, the director now directly owns 16,629 shares in the company, valued at $710,889.75. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.63% of the stock is owned by corporate insiders.
Ameris Bancorp (ABCB) opened at 42.55 on Tuesday. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 18.28 and a beta of 1.29. The stock has a 50 day moving average of $44.60 and a 200 day moving average of $45.86. Ameris Bancorp has a 12 month low of $33.80 and a 12 month high of $51.28.
Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings results on Friday, July 21st. The bank reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.02. The company had revenue of $91.35 million during the quarter, compared to analysts’ expectations of $92.71 million. Ameris Bancorp had a return on equity of 12.52% and a net margin of 22.66%. Equities analysts anticipate that Ameris Bancorp will post $2.55 EPS for the current fiscal year.
Ameris Bancorp 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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