Rhumbline Advisers Has $4.63 Million Stake in Ameris Bancorp (ABCB)

Rhumbline Advisers lowered its holdings in Ameris Bancorp (NASDAQ:ABCB) by 2.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 101,312 shares of the bank’s stock after selling 2,810 shares during the quarter. Rhumbline Advisers owned 0.21% of Ameris Bancorp worth $4,630,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. New York State Teachers Retirement System grew its holdings in Ameris Bancorp by 7.4% in the 2nd quarter. New York State Teachers Retirement System now owns 16,843 shares of the bank’s stock valued at $899,000 after buying an additional 1,155 shares during the last quarter. MetLife Investment Advisors LLC grew its holdings in Ameris Bancorp by 8.8% in the 2nd quarter. MetLife Investment Advisors LLC now owns 18,334 shares of the bank’s stock valued at $978,000 after buying an additional 1,479 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Ameris Bancorp by 24.5% in the 2nd quarter. Victory Capital Management Inc. now owns 7,697 shares of the bank’s stock valued at $411,000 after buying an additional 1,514 shares during the last quarter. First Interstate Bank grew its holdings in Ameris Bancorp by 37.3% in the 3rd quarter. First Interstate Bank now owns 5,765 shares of the bank’s stock valued at $263,000 after buying an additional 1,565 shares during the last quarter. Finally, Stephens Investment Management Group LLC grew its holdings in Ameris Bancorp by 0.6% in the 2nd quarter. Stephens Investment Management Group LLC now owns 275,068 shares of the bank’s stock valued at $14,854,000 after buying an additional 1,683 shares during the last quarter. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:ABCB opened at $37.44 on Friday. Ameris Bancorp has a 1-year low of $37.04 and a 1-year high of $59.05. The company has a market cap of $1.82 billion, a PE ratio of 12.73 and a beta of 1.12. The company has a current ratio of 1.01, a quick ratio of 0.99 and a debt-to-equity ratio of 0.53.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings data on Friday, October 19th. The bank reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.01. Ameris Bancorp had a return on equity of 11.14% and a net margin of 17.99%. The company had revenue of $129.21 million for the quarter, compared to analyst estimates of $135.44 million. Research analysts expect that Ameris Bancorp will post 3.29 EPS for the current year.

ABCB has been the topic of a number of research analyst reports. TheStreet raised Ameris Bancorp from a “c+” rating to a “b-” rating in a report on Tuesday, November 13th. Stephens reissued a “buy” rating and set a $60.00 price objective on shares of Ameris Bancorp in a report on Thursday, September 20th. Piper Jaffray Companies set a $50.00 price objective on Ameris Bancorp and gave the stock a “hold” rating in a report on Monday, November 26th. Zacks Investment Research raised Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Friday, August 10th. Finally, BidaskClub raised Ameris Bancorp from a “strong sell” rating to a “sell” rating in a report on Thursday, September 13th. Three analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price 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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Institutional Ownership by Quarter for Ameris Bancorp (NASDAQ:ABCB)

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