First Trust Advisors LP decreased its stake in Ameris Bancorp (NASDAQ:ABCB) by 13.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 98,311 shares of the bank’s stock after selling 15,255 shares during the period. First Trust Advisors LP owned about 0.26% of Ameris Bancorp worth $4,739,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its stake in Ameris Bancorp by 1.6% in the first quarter. Victory Capital Management Inc. now owns 3,506 shares of the bank’s stock valued at $162,000 after buying an additional 55 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in Ameris Bancorp by 1.8% in the first quarter. Municipal Employees Retirement System of Michigan now owns 7,980 shares of the bank’s stock valued at $368,000 after buying an additional 140 shares during the period. Arcus Capital Partners LLC boosted its stake in Ameris Bancorp by 3.1% in the first quarter. Arcus Capital Partners LLC now owns 5,846 shares of the bank’s stock valued at $270,000 after buying an additional 177 shares during the period. New York State Teachers Retirement System boosted its stake in Ameris Bancorp by 1.3% in the first quarter. New York State Teachers Retirement System now owns 15,098 shares of the bank’s stock valued at $696,000 after buying an additional 200 shares during the period. Finally, Louisiana State Employees Retirement System boosted its stake in Ameris Bancorp by 1.3% in the second quarter. Louisiana State Employees Retirement System now owns 15,100 shares of the bank’s stock valued at $728,000 after buying an additional 200 shares during the period. Institutional investors own 82.41% of the company’s stock.

Shares of Ameris Bancorp (NASDAQ ABCB) opened at 44.75 on Friday. The company has a market capitalization of $1.66 billion, a PE ratio of 19.22 and a beta of 1.29. Ameris Bancorp has a 12-month low of $33.80 and a 12-month high of $51.28. The stock’s 50 day moving average price is $45.23 and its 200 day moving average price is $46.09.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings data on Friday, July 21st. The bank reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.02. The firm had revenue of $91.35 million for the quarter, compared to analysts’ expectations of $92.71 million. Ameris Bancorp had a net margin of 22.66% and a return on equity of 12.52%. On average, equities research analysts forecast that Ameris Bancorp will post $2.55 earnings per share for the current year.

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Several research firms have recently weighed in on ABCB. BidaskClub cut Ameris Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Piper Jaffray Companies restated a “hold” rating and set a $48.00 price target on shares of Ameris Bancorp in a report on Friday, July 21st. Keefe, Bruyette & Woods restated a “hold” rating and set a $51.00 price target on shares of Ameris Bancorp in a report on Monday, June 26th. Stephens restated a “buy” rating and set a $54.00 price target on shares of Ameris Bancorp in a report on Friday, July 21st. Finally, Zacks Investment Research cut Ameris Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $49.33.

In other Ameris Bancorp news, CEO Edwin W. Hortman, Jr. sold 27,459 shares of Ameris Bancorp stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $46.69, for a total value of $1,282,060.71. Following the transaction, the chief executive officer now directly owns 207,725 shares of the company’s stock, valued at approximately $9,698,680.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Cindi H. Lewis sold 3,200 shares of Ameris Bancorp stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $46.00, for a total value of $147,200.00. Following the completion of the transaction, the chief accounting officer now directly owns 70,578 shares in the company, valued at $3,246,588. The disclosure for this sale can be found here. 3.63% of the stock is owned by insiders.

About Ameris Bancorp

Ameris Bancorp is a financial holding company. The Company’s business is conducted through its banking subsidiary, Ameris Bank (the Bank), which provides a range of banking services to its retail and commercial customers. The Company operates through four segments: the Banking Division, the Retail Mortgage Division, the Warehouse Lending Division and the SBA Division.

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

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