Roosevelt Investment Group Inc. bought a new stake in Ameris Bancorp (NASDAQ:ABCB) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 20,422 shares of the bank’s stock, valued at approximately $647,000.
Several other large investors have also recently added to or reduced their stakes in ABCB. Oppenheimer Asset Management Inc. bought a new position in Ameris Bancorp during the fourth quarter worth $56,000. BlueMountain Capital Management LLC bought a new position in Ameris Bancorp during the third quarter worth $102,000. Quantamental Technologies LLC bought a new position in Ameris Bancorp during the fourth quarter worth $83,000. IFP Advisors Inc boosted its position in Ameris Bancorp by 68.8% during the fourth quarter. IFP Advisors Inc now owns 4,225 shares of the bank’s stock worth $133,000 after purchasing an additional 1,722 shares during the period. Finally, Raymond James & Associates bought a new position in Ameris Bancorp during the second quarter worth $298,000. 85.53% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on ABCB. Stephens reaffirmed a “buy” rating and set a $58.00 price objective on shares of Ameris Bancorp in a research report on Monday, October 22nd. TheStreet raised Ameris Bancorp from a “c+” rating to a “b-” rating in a report on Tuesday, November 13th. Piper Jaffray Companies set a $50.00 target price on Ameris Bancorp and gave the stock a “hold” rating in a report on Monday, November 26th. BidaskClub raised Ameris Bancorp from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 30th. Finally, SunTrust Banks raised Ameris Bancorp from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a report on Tuesday, January 29th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $54.67.
ABCB opened at $38.69 on Tuesday. The firm has a market cap of $1.79 billion, a PE ratio of 11.45 and a beta of 1.50. Ameris Bancorp has a fifty-two week low of $29.97 and a fifty-two week high of $59.05. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.96 and a quick ratio of 0.95.
Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings results on Friday, January 25th. The bank reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.03. The business had revenue of $131.10 million during the quarter, compared to the consensus estimate of $130.93 million. Ameris Bancorp had a return on equity of 11.46% and a net margin of 22.76%. Ameris Bancorp’s revenue for the quarter was up 37.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.63 earnings per share. On average, sell-side analysts predict that Ameris Bancorp will post 4.11 EPS for the current year.
Ameris Bancorp Profile
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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