Mendon Capital Advisors Corp Purchases Shares of 12,500 Ameris Bancorp $ABCB

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 purchased a new position in shares of Ameris Bancorp (NASDAQ:ABCB - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 12,500 shares of the bank's stock, valued at approximately $720,000.

A number of other institutional investors have also modified their holdings of ABCB. Park Square Financial Group LLC purchased a new stake in shares of Ameris Bancorp in the fourth quarter valued at approximately $37,000. Versant Capital Management Inc boosted its stake in shares of Ameris Bancorp by 84.1% in the first quarter. Versant Capital Management Inc now owns 731 shares of the bank's stock valued at $42,000 after buying an additional 334 shares in the last quarter. Optimum Investment Advisors purchased a new stake in shares of Ameris Bancorp in the first quarter valued at approximately $128,000. State of Wyoming boosted its stake in shares of Ameris Bancorp by 8.3% in the first quarter. State of Wyoming now owns 2,346 shares of the bank's stock valued at $135,000 after buying an additional 179 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its position in Ameris Bancorp by 1,120.2% during the first quarter. Meeder Asset Management Inc. now owns 2,904 shares of the bank's stock worth $167,000 after purchasing an additional 2,666 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company's stock.

Wall Street Analyst Weigh In

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 investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $72.14.

Ameris Bancorp Stock Performance

Shares of NASDAQ:ABCB opened at $73.44 on Wednesday. The firm has a market capitalization of $5.04 billion, a PE ratio of 14.10 and a beta of 0.97. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. The business has a 50-day moving average of $69.21 and a two-hundred day moving average of $62.66. Ameris Bancorp has a 12 month low of $48.27 and a 12 month high of $75.46.

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.

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