12,500 Shares in Ameris Bancorp $ABCB Acquired by Mendon Capital Advisors Corp

Key Points

• Mendon Capital Advisors Corp has acquired 12,500 shares of Ameris Bancorp valued at approximately $720,000 during the first quarter.
• Institutional investors and hedge funds now own 91.64% of Ameris Bancorp's stock, reflecting strong interest in the company.
• DA Davidson has set a target price of $81.00 for Ameris Bancorp, with a consensus rating of "Moderate Buy".

Mendon Capital Advisors Corp bought a new position in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 12,500 shares of the bank's stock, valued at approximately $720,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ABCB. Intech Investment Management LLC boosted its holdings in Ameris Bancorp by 55.6% during the first quarter. Intech Investment Management LLC now owns 62,656 shares of the bank's stock worth $3,607,000 after buying an additional 22,377 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Ameris Bancorp during the 1st quarter valued at approximately $10,528,000. SageView Advisory Group LLC boosted its stake in shares of Ameris Bancorp by 2.5% during the 1st quarter. SageView Advisory Group LLC now owns 7,107 shares of the bank's stock worth $409,000 after acquiring an additional 176 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Ameris Bancorp by 7.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 187,024 shares of the bank's stock worth $10,767,000 after acquiring an additional 13,633 shares during the period. Finally, United Services Automobile Association acquired a new stake in shares of Ameris Bancorp in the 1st quarter worth approximately $243,000. 91.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, DA Davidson set a $81.00 target price on Ameris Bancorp and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $72.14.

Ameris Bancorp Price Performance

Ameris Bancorp stock traded down $0.42 during mid-day trading on Monday, hitting $73.96. 141,908 shares of the company were exchanged, compared to its average volume of 421,140. Ameris Bancorp has a 12-month low of $48.27 and a 12-month high of $75.46. The company has a market capitalization of $5.07 billion, a P/E ratio of 14.20 and a beta of 0.97. The business's 50 day simple moving average is $69.62 and its two-hundred day simple moving average is $62.89. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00.

Ameris Bancorp 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.