Intech Investment Management LLC Has $2.52 Million Stake in Ameris Bancorp (NASDAQ:ABCB)

Intech Investment Management LLC raised its stake in shares of Ameris Bancorp (NASDAQ:ABCB) by 158.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 40,279 shares of the bank’s stock after buying an additional 24,680 shares during the period. Intech Investment Management LLC’s holdings in Ameris Bancorp were worth $2,520,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ABCB. Jennison Associates LLC acquired a new position in Ameris Bancorp during the 4th quarter valued at about $10,856,000. Charles Schwab Investment Management Inc. boosted its stake in Ameris Bancorp by 9.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 907,140 shares of the bank’s stock valued at $56,596,000 after purchasing an additional 79,060 shares during the last quarter. Barclays PLC boosted its stake in shares of Ameris Bancorp by 107.7% in the 3rd quarter. Barclays PLC now owns 140,001 shares of the bank’s stock worth $8,735,000 after buying an additional 72,599 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Ameris Bancorp by 135.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 115,194 shares of the bank’s stock worth $7,187,000 after buying an additional 66,287 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Ameris Bancorp by 2,768.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 68,384 shares of the bank’s stock worth $4,292,000 after buying an additional 66,000 shares during the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Insider Transactions at Ameris Bancorp

In other news, insider Douglas D. Strange bought 1,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was bought at an average cost of $56.95 per share, for a total transaction of $56,950.00. Following the completion of the acquisition, the insider now owns 19,403 shares in the company, valued at approximately $1,105,000.85. This trade represents a 5.43 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 5.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ABCB shares. Stephens restated an “equal weight” rating and issued a $71.00 target price on shares of Ameris Bancorp in a research note on Friday, January 31st. Raymond James reaffirmed an “outperform” rating and issued a $71.00 price target (up previously from $67.00) on shares of Ameris Bancorp in a report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Ameris Bancorp from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $70.50.

Ameris Bancorp Stock Performance

NASDAQ ABCB opened at $57.99 on Thursday. The company has a 50-day simple moving average of $63.23 and a two-hundred day simple moving average of $64.01. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. Ameris Bancorp has a 12-month low of $44.23 and a 12-month high of $74.56. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of 11.13 and a beta of 1.02.

Ameris Bancorp Company Profile

Ameris Bancorp operates as the bank holding company for Ameris Bank that provides range of banking services to retail and commercial customers. It operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division. The company offers commercial and retail checking, regular interest-bearing savings, money market, individual retirement, and certificates of deposit accounts.