Flinton Capital Management LLC increased its position in Ameris Bancorp (NASDAQ:ABCB) by 21.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,934 shares of the bank’s stock after buying an additional 2,142 shares during the period. Flinton Capital Management LLC’s holdings in Ameris Bancorp were worth $378,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of ABCB. Toronto Dominion Bank acquired a new position in Ameris Bancorp during the fourth quarter worth approximately $26,000. Oppenheimer Asset Management Inc. acquired a new position in Ameris Bancorp during the fourth quarter worth approximately $56,000. Quantamental Technologies LLC acquired a new position in Ameris Bancorp during the fourth quarter worth approximately $83,000. BlueMountain Capital Management LLC acquired a new position in Ameris Bancorp during the third quarter worth approximately $102,000. Finally, Stephens Inc. AR increased its position in Ameris Bancorp by 28.6% during the fourth quarter. Stephens Inc. AR now owns 3,497 shares of the bank’s stock worth $111,000 after purchasing an additional 777 shares during the last quarter. 83.92% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently commented on ABCB. BidaskClub lowered shares of Ameris Bancorp from a “hold” rating to a “sell” rating in a research report on Friday. Zacks Investment Research downgraded shares of Ameris Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, February 22nd. SunTrust Banks upgraded shares of Ameris Bancorp from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Tuesday, January 29th. Stephens reiterated a “buy” rating and set a $58.00 price objective on shares of Ameris Bancorp in a research note on Monday, January 28th. Finally, TheStreet downgraded shares of Ameris Bancorp from a “b-” rating to a “c+” rating in a research note on Monday, December 24th. Three research analysts have rated the stock with a sell rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $54.67.
Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings data on Friday, January 25th. The bank reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.03. The company had revenue of $131.10 million during the quarter, compared to the consensus estimate of $130.93 million. Ameris Bancorp had a net margin of 22.76% and a return on equity of 11.46%. Ameris Bancorp’s revenue for the quarter was up 37.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 earnings per share. On average, research analysts predict that Ameris Bancorp will post 4.12 earnings per share for the current fiscal year.
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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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