Signature Financial Management Inc. Cuts Stake in Ameris Bancorp (ABCB)

Signature Financial Management Inc. lessened its stake in shares of Ameris Bancorp (NASDAQ:ABCB) by 9.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 11,224 shares of the bank’s stock after selling 1,180 shares during the quarter. Signature Financial Management Inc.’s holdings in Ameris Bancorp were worth $595,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ameritas Investment Partners Inc. lifted its stake in shares of Ameris Bancorp by 8.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,188 shares of the bank’s stock worth $154,000 after buying an additional 248 shares during the last quarter. Riverhead Capital Management LLC increased its position in Ameris Bancorp by 119.8% during the second quarter. Riverhead Capital Management LLC now owns 3,297 shares of the bank’s stock worth $159,000 after acquiring an additional 1,797 shares during the period. Victory Capital Management Inc. increased its position in Ameris Bancorp by 17.7% during the second quarter. Victory Capital Management Inc. now owns 4,125 shares of the bank’s stock worth $199,000 after acquiring an additional 619 shares during the period. Flinton Capital Management LLC increased its position in Ameris Bancorp by 101.6% during the second quarter. Flinton Capital Management LLC now owns 4,250 shares of the bank’s stock worth $205,000 after acquiring an additional 2,142 shares during the period. Finally, Aperio Group LLC bought a new position in Ameris Bancorp during the third quarter worth about $204,000. Institutional investors own 81.99% of the company’s stock.

Ameris Bancorp (NASDAQ:ABCB) opened at $49.75 on Monday. Ameris Bancorp has a 1 year low of $41.05 and a 1 year high of $51.30. The company has a market cap of $1,852.24, a PE ratio of 20.06 and a beta of 1.19. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.04 and a current ratio of 1.07.

Ameris Bancorp (NASDAQ:ABCB) last released its earnings results on Thursday, October 19th. The bank reported $0.63 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.02). Ameris Bancorp had a net margin of 21.57% and a return on equity of 12.12%. The firm had revenue of $93.85 million during the quarter, compared to the consensus estimate of $96.89 million. analysts anticipate that Ameris Bancorp will post 2.48 EPS for the current year.

In other news, Director Leo J. Hill bought 1,000 shares of the firm’s stock in a transaction on Thursday, September 7th. The shares were purchased at an average cost of $42.75 per share, with a total value of $42,750.00. Following the acquisition, the director now directly owns 16,629 shares in the company, valued at $710,889.75. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 3.63% of the stock is owned by company insiders.

ABCB has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $52.00 price target on shares of Ameris Bancorp in a research report on Thursday, October 26th. Stephens reaffirmed a “buy” rating and set a $52.00 price target on shares of Ameris Bancorp in a research report on Thursday, September 28th. Zacks Investment Research raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, September 15th. ValuEngine lowered shares of Ameris Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Finally, Piper Jaffray Companies reaffirmed a “neutral” rating and set a $47.50 price target on shares of Ameris Bancorp in a research report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $52.25.

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About Ameris Bancorp

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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Institutional Ownership by Quarter for Ameris Bancorp (NASDAQ:ABCB)

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