Monashee Investment Management LLC acquired a new stake in Ameris Bancorp (NASDAQ:ABCB) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 20,100 shares of the bank’s stock, valued at approximately $927,000.

Other hedge funds also recently modified their holdings of the company. 1832 Asset Management L.P. acquired a new stake in shares of Ameris Bancorp during the third quarter worth approximately $982,000. Comerica Bank increased its stake in shares of Ameris Bancorp by 12.1% in the fourth quarter. Comerica Bank now owns 71,998 shares of the bank’s stock worth $3,114,000 after buying an additional 7,751 shares during the last quarter. State Street Corp increased its stake in shares of Ameris Bancorp by 14.9% in the fourth quarter. State Street Corp now owns 977,570 shares of the bank’s stock worth $42,621,000 after buying an additional 126,537 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Ameris Bancorp by 5.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,478,681 shares of the bank’s stock worth $64,472,000 after buying an additional 72,117 shares during the last quarter. Finally, Royce & Associates LP acquired a new stake in shares of Ameris Bancorp during the fourth quarter worth approximately $1,221,000. 82.37% of the stock is owned by hedge funds and other institutional investors.

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

Shares of Ameris Bancorp (ABCB) opened at 43.90 on Wednesday. The stock has a market capitalization of $1.57 billion, a P/E ratio of 19.16 and a beta of 1.39. Ameris Bancorp has a 12 month low of $27.92 and a 12 month high of $49.50. The company’s 50 day moving average price is $45.61 and its 200-day moving average price is $45.41.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings data on Friday, April 21st. The bank reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Ameris Bancorp had a net margin of 24.51% and a return on equity of 12.08%. The company had revenue of $86.30 million during the quarter, compared to analyst estimates of $86.84 million. Equities analysts predict that Ameris Bancorp will post $2.60 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: “Monashee Investment Management LLC Takes Position in Ameris Bancorp (ABCB)” was first posted by Financial Market News and is the sole property of of Financial Market News. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of United States and international trademark & copyright laws. The correct version of this piece of content can be accessed at https://www.financial-market-news.com/2017/06/07/monashee-investment-management-llc-takes-position-in-ameris-bancorp-abcb.html.

A number of analysts recently commented on the company. Stephens reaffirmed a “buy” rating and set a $52.00 price target on shares of Ameris Bancorp in a research report on Friday, April 21st. ValuEngine raised Ameris Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $51.00 price target on shares of Ameris Bancorp in a research report on Wednesday, May 24th. Zacks Investment Research downgraded Ameris Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, April 3rd. Finally, SunTrust Banks, Inc. raised Ameris Bancorp from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Wednesday, April 26th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $49.20.

In related news, CEO Edwin W. Hortman, Jr. sold 14,578 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $47.37, for a total value of $690,559.86. Following the completion of the transaction, the chief executive officer now directly owns 234,664 shares in the company, valued at approximately $11,116,033.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Lawton E. Bassett III sold 5,204 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $47.23, for a total transaction of $245,784.92. Following the completion of the transaction, the president now owns 32,214 shares of the company’s stock, valued at $1,521,467.22. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 1,860 shares of company stock valued at $84,541 and sold 47,815 shares valued at $2,262,593. 3.88% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding ABCB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameris Bancorp (NASDAQ:ABCB).

Receive News & Ratings for Ameris Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameris Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.