Signature Financial Management Inc. maintained its stake in shares of Ameris Bancorp (NASDAQ:ABCB) during the second quarter, Holdings Channel reports. The firm owned 12,404 shares of the bank’s stock at the end of the second quarter. Signature Financial Management Inc.’s holdings in Ameris Bancorp were worth $598,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in ABCB. LS Investment Advisors LLC boosted its stake in shares of Ameris Bancorp by 126.5% in the first quarter. LS Investment Advisors LLC now owns 2,901 shares of the bank’s stock valued at $134,000 after buying an additional 1,620 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Ameris Bancorp during the first quarter valued at approximately $136,000. Victory Capital Management Inc. boosted its stake in shares of Ameris Bancorp by 1.6% in the first quarter. Victory Capital Management Inc. now owns 3,506 shares of the bank’s stock valued at $162,000 after buying an additional 55 shares during the last quarter. First Interstate Bank boosted its stake in shares of Ameris Bancorp by 8.8% in the first quarter. First Interstate Bank now owns 3,845 shares of the bank’s stock valued at $177,000 after buying an additional 310 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of Ameris Bancorp by 7.4% in the first quarter. State of Alaska Department of Revenue now owns 4,050 shares of the bank’s stock valued at $186,000 after buying an additional 280 shares during the last quarter. Institutional investors and hedge funds own 84.12% of the company’s stock.

Shares of Ameris Bancorp (NASDAQ:ABCB) opened at 43.25 on Friday. Ameris Bancorp has a 12 month low of $32.76 and a 12 month high of $51.28. The stock has a market capitalization of $1.61 billion, a PE ratio of 18.58 and a beta of 1.27. The stock’s 50 day moving average is $46.80 and its 200 day moving average is $46.25.

Ameris Bancorp (NASDAQ:ABCB) last announced its earnings results on Friday, July 21st. The bank reported $0.63 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.02. Ameris Bancorp had a net margin of 25.27% and a return on equity of 12.02%. The company had revenue of $91.35 million during the quarter, compared to analyst estimates of $92.71 million. Analysts anticipate that Ameris Bancorp will post $2.55 earnings per share for the current fiscal year.

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Several brokerages have commented on ABCB. Piper Jaffray Companies reiterated a “hold” rating and issued a $48.00 price target on shares of Ameris Bancorp in a research note on Friday, July 21st. ValuEngine upgraded shares of Ameris Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. BidaskClub upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Keefe, Bruyette & Woods restated a “hold” rating and set a $51.00 target price on shares of Ameris Bancorp in a research report on Friday, April 21st. Finally, SunTrust Banks, Inc. upgraded shares of Ameris Bancorp from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Wednesday, April 26th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Ameris Bancorp presently has an average rating of “Hold” and a consensus price target of $49.33.

In related news, CAO Cindi H. Lewis sold 3,200 shares of the business’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $46.00, for a total transaction of $147,200.00. Following the transaction, the chief accounting officer now directly owns 70,578 shares in the company, valued at $3,246,588. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Edwin W. Hortman, Jr. sold 27,459 shares of the business’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $46.69, for a total transaction of $1,282,060.71. Following the transaction, the chief executive officer now owns 207,725 shares in the company, valued at $9,698,680.25. The disclosure for this sale can be found here. Insiders have purchased 1,100 shares of company stock worth $48,548 over the last 90 days. 3.63% of the stock is currently owned by company insiders.

Ameris Bancorp Company 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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