Arizona State Retirement System Purchases 3,544 Shares of Ameris Bancorp (ABCB)

Arizona State Retirement System raised its position in shares of Ameris Bancorp (NASDAQ:ABCB) by 6.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,447 shares of the bank’s stock after purchasing an additional 3,544 shares during the period. Arizona State Retirement System owned 0.13% of Ameris Bancorp worth $1,946,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Raymond James & Associates acquired a new stake in Ameris Bancorp during the second quarter worth about $298,000. Bank of America Corp DE increased its position in Ameris Bancorp by 16.5% during the second quarter. Bank of America Corp DE now owns 140,563 shares of the bank’s stock worth $7,499,000 after purchasing an additional 19,927 shares during the last quarter. California Public Employees Retirement System increased its position in Ameris Bancorp by 69.0% during the second quarter. California Public Employees Retirement System now owns 65,130 shares of the bank’s stock worth $3,475,000 after purchasing an additional 26,595 shares during the last quarter. Bank of New York Mellon Corp increased its position in Ameris Bancorp by 1.9% during the second quarter. Bank of New York Mellon Corp now owns 804,157 shares of the bank’s stock worth $42,901,000 after purchasing an additional 15,052 shares during the last quarter. Finally, Northern Trust Corp increased its position in Ameris Bancorp by 12.1% during the second quarter. Northern Trust Corp now owns 512,879 shares of the bank’s stock worth $27,362,000 after purchasing an additional 55,212 shares during the last quarter. 85.53% of the stock is owned by institutional investors.

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Shares of ABCB stock opened at $38.98 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 11.53 and a beta of 1.50. Ameris Bancorp has a 1-year low of $29.97 and a 1-year high of $59.05.

Ameris Bancorp (NASDAQ:ABCB) last announced its earnings results on Friday, January 25th. The bank reported $0.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.03. The company had revenue of $131.10 million during the quarter, compared to analyst estimates of $130.93 million. Ameris Bancorp had a net margin of 22.76% and a return on equity of 11.46%. Ameris Bancorp’s revenue was up 37.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.63 earnings per share. Equities research analysts anticipate that Ameris Bancorp will post 4.11 earnings per share for the current fiscal year.

Several research firms recently issued reports on ABCB. Zacks Investment Research cut shares of Ameris Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th. Stephens restated a “buy” rating and set a $58.00 price objective on shares of Ameris Bancorp in a research report on Monday, January 28th. TheStreet cut shares of Ameris Bancorp from a “b-” rating to a “c+” rating in a research report on Monday, December 24th. BidaskClub upgraded shares of Ameris Bancorp from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 30th. Finally, Piper Jaffray Companies set a $50.00 price objective on shares of Ameris Bancorp and gave the stock a “hold” rating in a research report on Monday, November 26th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $54.67.

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Ameris Bancorp Company Profile

Ameris Bancorp operates as the 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, Small Business Administration Division, and Premium Finance Division.

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