Texas Permanent School Fund Boosts Holdings in Ameris Bancorp (NASDAQ:ABCB)

Texas Permanent School Fund increased its holdings in Ameris Bancorp (NASDAQ:ABCB) by 64.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 44,479 shares of the bank’s stock after acquiring an additional 17,351 shares during the quarter. Texas Permanent School Fund’s holdings in Ameris Bancorp were worth $1,790,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Stephens Inc. AR boosted its holdings in shares of Ameris Bancorp by 281.8% in the second quarter. Stephens Inc. AR now owns 14,344 shares of the bank’s stock worth $562,000 after buying an additional 10,587 shares during the last quarter. Bank of America Corp DE raised its stake in Ameris Bancorp by 19.6% during the 2nd quarter. Bank of America Corp DE now owns 358,493 shares of the bank’s stock worth $14,050,000 after acquiring an additional 58,756 shares during the period. WCM Investment Management LLC raised its stake in Ameris Bancorp by 19.7% during the 2nd quarter. WCM Investment Management LLC now owns 31,200 shares of the bank’s stock worth $1,223,000 after acquiring an additional 5,132 shares during the period. Jennison Associates LLC raised its stake in Ameris Bancorp by 2.1% during the 2nd quarter. Jennison Associates LLC now owns 967,428 shares of the bank’s stock worth $37,914,000 after acquiring an additional 19,600 shares during the period. Finally, BlackRock Inc. raised its stake in Ameris Bancorp by 23.9% during the 2nd quarter. BlackRock Inc. now owns 7,510,872 shares of the bank’s stock worth $294,351,000 after acquiring an additional 1,450,551 shares during the period. 63.57% of the stock is currently owned by institutional investors.

ABCB has been the topic of a number of recent analyst reports. Stephens set a $50.00 target price on shares of Ameris Bancorp and gave the stock a “buy” rating in a research note on Friday, October 18th. BidaskClub cut shares of Ameris Bancorp from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Piper Jaffray Companies set a $53.00 target price on shares of Ameris Bancorp and gave the stock a “buy” rating in a research note on Friday, November 1st. SunTrust Banks decreased their target price on shares of Ameris Bancorp from $47.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Finally, Zacks Investment Research upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $46.60.

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NASDAQ ABCB opened at $44.44 on Friday. Ameris Bancorp has a 12 month low of $29.97 and a 12 month high of $45.25. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 13.15 and a beta of 1.50. The company has a current ratio of 1.06, a quick ratio of 0.97 and a debt-to-equity ratio of 0.61. The company’s 50 day moving average is $41.31 and its two-hundred day moving average is $38.19.

Ameris Bancorp (NASDAQ:ABCB) last announced its earnings results on Friday, October 18th. The bank reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.03. Ameris Bancorp had a net margin of 19.46% and a return on equity of 11.71%. The business had revenue of $225.80 million for the quarter, compared to the consensus estimate of $213.84 million. During the same quarter in the prior year, the firm posted $0.91 earnings per share. The business’s revenue for the quarter was up 74.8% on a year-over-year basis. Sell-side analysts forecast that Ameris Bancorp will post 3.81 EPS for the current year.

Ameris Bancorp Profile

Ameris Bancorp operates as the bank 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, SBA Division, and Premium Finance Division.

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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).

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

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