Ameris Bancorp (ABCB) Shares Bought by Citigroup Inc.

Citigroup Inc. increased its holdings in shares of Ameris Bancorp (NASDAQ:ABCB) by 471.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,755 shares of the bank’s stock after purchasing an additional 32,804 shares during the quarter. Citigroup Inc. owned 0.08% of Ameris Bancorp worth $1,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp increased its holdings in shares of Ameris Bancorp by 1.9% in the second quarter. Bank of New York Mellon Corp now owns 804,157 shares of the bank’s stock valued at $42,901,000 after purchasing an additional 15,052 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Ameris Bancorp by 61.7% in the third quarter. Victory Capital Management Inc. now owns 12,448 shares of the bank’s stock valued at $569,000 after purchasing an additional 4,751 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Ameris Bancorp by 4.4% in the third quarter. Wells Fargo & Company MN now owns 567,169 shares of the bank’s stock valued at $25,920,000 after acquiring an additional 23,836 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of Ameris Bancorp in the third quarter valued at about $263,000. Finally, BlackRock Inc. grew its stake in shares of Ameris Bancorp by 5.5% in the third quarter. BlackRock Inc. now owns 5,892,046 shares of the bank’s stock valued at $269,265,000 after acquiring an additional 308,324 shares in the last quarter. 83.92% of the stock is currently owned by hedge funds and other institutional investors.

ABCB stock opened at $37.92 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.95 and a current ratio of 0.96. Ameris Bancorp has a 52 week low of $29.97 and a 52 week high of $58.10. The stock has a market capitalization of $1.82 billion, a P/E ratio of 11.22 and a beta of 1.53.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings data on Friday, January 25th. The bank reported $0.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.03. Ameris Bancorp had a net margin of 22.76% and a return on equity of 11.46%. The business had revenue of $131.10 million during the quarter, compared to analysts’ expectations of $130.93 million. During the same quarter in the prior year, the business posted $0.63 earnings per share. Ameris Bancorp’s revenue was up 37.9% compared to the same quarter last year. On average, analysts predict that Ameris Bancorp will post 4.12 EPS for the current year.

ABCB has been the topic of several research reports. ValuEngine downgraded shares of Ameris Bancorp from a “sell” rating to a “strong sell” rating in a research note on Friday, December 7th. Zacks Investment Research upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. FIG Partners upgraded shares of Ameris Bancorp from a “market perform” rating to an “outperform” rating in a research note on Wednesday, December 19th. BidaskClub downgraded shares of Ameris Bancorp from a “sell” rating to a “strong sell” rating in a research note on Friday, December 7th. Finally, Sandler O’Neill upgraded shares of Ameris Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, December 19th. Three analysts have rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $54.67.

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Ameris Bancorp Profile

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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