Versant Capital Management Inc Increases Stock Holdings in Ameris Bancorp (NASDAQ:ABCB)

Versant Capital Management Inc lifted its position in Ameris Bancorp (NASDAQ:ABCB) by 33.8% in the third quarter, HoldingsChannel reports. The firm owned 1,184 shares of the bank’s stock after buying an additional 299 shares during the period. Versant Capital Management Inc’s holdings in Ameris Bancorp were worth $47,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ABCB. Truewealth LLC grew its holdings in shares of Ameris Bancorp by 678.8% in the third quarter. Truewealth LLC now owns 1,176 shares of the bank’s stock valued at $47,000 after purchasing an additional 1,025 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Ameris Bancorp by 68.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,621 shares of the bank’s stock valued at $64,000 after purchasing an additional 658 shares during the period. AdvisorNet Financial Inc grew its holdings in shares of Ameris Bancorp by 256.0% in the second quarter. AdvisorNet Financial Inc now owns 1,780 shares of the bank’s stock valued at $70,000 after purchasing an additional 1,280 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Ameris Bancorp by 24.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,061 shares of the bank’s stock valued at $120,000 after purchasing an additional 593 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Ameris Bancorp in the third quarter valued at about $172,000. 62.99% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently issued reports on ABCB shares. ValuEngine raised shares of Ameris Bancorp from a “strong sell” rating to a “sell” rating in a report on Thursday, September 19th. BidaskClub raised shares of Ameris Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Friday. Raymond James began coverage on shares of Ameris Bancorp in a research report on Thursday, July 11th. They issued an “outperform” rating and a $45.00 target price on the stock. Finally, Piper Jaffray Companies decreased their target price on shares of Ameris Bancorp from $47.00 to $46.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $45.60.

NASDAQ ABCB traded up $0.27 during trading hours on Friday, reaching $41.75. The company had a trading volume of 583,073 shares, compared to its average volume of 496,788. The stock has a 50-day moving average of $38.53 and a 200 day moving average of $37.37. Ameris Bancorp has a 1-year low of $29.97 and a 1-year high of $45.25. The company has a current ratio of 1.00, a quick ratio of 0.97 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $2.90 billion, a P/E ratio of 12.35 and a beta of 1.51.

Ameris Bancorp (NASDAQ:ABCB) last posted its earnings results on Friday, October 18th. The bank reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.03. Ameris Bancorp had a net margin of 26.23% and a return on equity of 12.01%. The company had revenue of $225.80 million for the quarter, compared to analysts’ expectations of $213.84 million. During the same quarter in the prior year, the company posted $0.91 earnings per share. Ameris Bancorp’s revenue for the quarter was up 74.8% compared to the same quarter last year. As a group, sell-side analysts predict that Ameris Bancorp will post 3.78 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 30th were given a $0.15 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.60 dividend on an annualized basis and a yield of 1.44%. Ameris Bancorp’s payout ratio is currently 17.75%.

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.

Further Reading: Market Capitalization – What it Means for Investors

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

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