Ameris Bancorp (ABCB) Stake Raised by Castine Capital Management LLC

Castine Capital Management LLC increased its holdings in shares of Ameris Bancorp (NASDAQ:ABCB) by 8.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 268,532 shares of the bank’s stock after acquiring an additional 21,833 shares during the period. Ameris Bancorp makes up about 4.8% of Castine Capital Management LLC’s portfolio, making the stock its 3rd largest holding. Castine Capital Management LLC owned 0.72% of Ameris Bancorp worth $12,890,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Alps Advisors Inc. boosted its holdings in Ameris Bancorp by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 10,298 shares of the bank’s stock worth $496,000 after buying an additional 27 shares during the last quarter. Jennison Associates LLC boosted its holdings in Ameris Bancorp by 0.5% in the 2nd quarter. Jennison Associates LLC now owns 27,731 shares of the bank’s stock worth $1,337,000 after buying an additional 136 shares during the last quarter. Amalgamated Bank boosted its holdings in Ameris Bancorp by 4.0% in the 2nd quarter. Amalgamated Bank now owns 4,737 shares of the bank’s stock worth $228,000 after buying an additional 183 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Ameris Bancorp by 8.4% in 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. Finally, Arizona State Retirement System boosted its holdings in Ameris Bancorp by 1.6% in the 2nd quarter. Arizona State Retirement System now owns 19,400 shares of the bank’s stock worth $935,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 82.01% of the company’s stock.

ABCB has been the topic of several research analyst reports. Stephens reiterated a “buy” rating and issued a $52.00 price objective on shares of Ameris Bancorp in a report on Thursday, September 28th. Zacks Investment Research upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Friday, September 15th. ValuEngine cut Ameris Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $52.00 price objective on shares of Ameris Bancorp in a report on Thursday, October 26th. Finally, Piper Jaffray Companies set a $50.00 price objective on Ameris Bancorp and gave the stock a “hold” rating in a report on Monday, October 23rd. 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. Ameris Bancorp currently has an average rating of “Hold” and an average target price of $52.25.

Ameris Bancorp (ABCB) opened at $48.40 on Thursday. The firm has a market capitalization of $1,820.00, a P/E ratio of 20.20 and a beta of 1.19. Ameris Bancorp has a twelve month low of $41.05 and a twelve month high of $51.30. The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 1.11.

Ameris Bancorp (NASDAQ:ABCB) last issued its earnings results on Thursday, October 19th. The bank reported $0.63 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.02). The company had revenue of $93.85 million for the quarter, compared to analyst estimates of $96.89 million. Ameris Bancorp had a return on equity of 12.12% and a net margin of 21.57%. research analysts predict that Ameris Bancorp will post 2.48 earnings per share for the current year.

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

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