Fisher Asset Management LLC Sells 27,009 Shares of Ameris Bancorp (ABCB)
Fisher Asset Management LLC decreased its position in Ameris Bancorp (NASDAQ:ABCB) by 23.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,724 shares of the company’s stock after selling 27,009 shares during the period. Fisher Asset Management LLC’s holdings in Ameris Bancorp were worth $3,066,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. PineBridge Investments L.P. raised its position in Ameris Bancorp by 3.4% in the second quarter. PineBridge Investments L.P. now owns 3,514 shares of the company’s stock worth $104,000 after buying an additional 116 shares in the last quarter. BlackRock Inc. raised its position in Ameris Bancorp by 95.9% in the second quarter. BlackRock Inc. now owns 4,042 shares of the company’s stock worth $121,000 after buying an additional 1,979 shares in the last quarter. Mason Street Advisors LLC acquired a new position in Ameris Bancorp during the second quarter worth approximately $162,000. Commerce Bank acquired a new position in Ameris Bancorp during the second quarter worth approximately $263,000. Finally, BNP Paribas Arbitrage SA raised its position in Ameris Bancorp by 123.5% in the second quarter. BNP Paribas Arbitrage SA now owns 8,941 shares of the company’s stock worth $266,000 after buying an additional 4,940 shares in the last quarter. 81.40% of the stock is currently owned by institutional investors and hedge funds.
Shares of Ameris Bancorp (NASDAQ:ABCB) traded up 0.79% during trading on Wednesday, hitting $44.85. 119,423 shares of the stock traded hands. Ameris Bancorp has a 1-year low of $24.96 and a 1-year high of $45.30. The company has a market cap of $1.56 billion, a P/E ratio of 22.53 and a beta of 1.30. The stock has a 50-day moving average of $38.50 and a 200 day moving average of $34.05.
Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings results on Monday, October 17th. The company reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.02. Ameris Bancorp had a net margin of 20.46% and a return on equity of 12.31%. On average, equities research analysts predict that Ameris Bancorp will post $2.15 EPS for the current fiscal year.
A number of equities analysts recently commented on the stock. Zacks Investment Research raised shares of Ameris Bancorp from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Tuesday, October 18th. Sandler O’Neill lowered shares of Ameris Bancorp from a “buy” rating to a “hold” rating and raised their price target for the stock from $36.00 to $38.00 in a research report on Tuesday, September 27th.
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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