Ameris Bancorp (NASDAQ:ABCB) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its holdings in shares of Ameris Bancorp (NASDAQ:ABCB) by 7.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 9,976 shares of the bank’s stock after selling 804 shares during the period. PNC Financial Services Group Inc.’s holdings in Ameris Bancorp were worth $624,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ABCB. R Squared Ltd acquired a new stake in shares of Ameris Bancorp during the 4th quarter worth about $51,000. Blue Trust Inc. raised its position in shares of Ameris Bancorp by 56.1% during the 4th quarter. Blue Trust Inc. now owns 1,113 shares of the bank’s stock worth $69,000 after acquiring an additional 400 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Ameris Bancorp by 17.9% during the 4th quarter. GAMMA Investing LLC now owns 1,332 shares of the bank’s stock worth $83,000 after acquiring an additional 202 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Ameris Bancorp by 167.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the bank’s stock worth $90,000 after acquiring an additional 896 shares in the last quarter. Finally, USA Financial Formulas acquired a new stake in shares of Ameris Bancorp during the 4th quarter worth about $98,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

Insider Buying and Selling at Ameris Bancorp

In related news, insider Douglas D. Strange bought 1,000 shares of the stock in a transaction on Wednesday, March 12th. The shares were bought at an average cost of $56.95 per share, for a total transaction of $56,950.00. Following the purchase, the insider now owns 19,403 shares of the company’s stock, valued at $1,105,000.85. This trade represents a 5.43 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 5.50% of the company’s stock.

Analysts Set New Price Targets

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

Ameris Bancorp Trading Down 0.3 %

Shares of ABCB stock opened at $57.67 on Wednesday. The business’s 50 day moving average is $63.29 and its two-hundred day moving average is $64.06. Ameris Bancorp has a twelve month low of $44.23 and a twelve month high of $74.56. The company has a market capitalization of $3.98 billion, a P/E ratio of 11.07 and a beta of 1.02. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11.

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.