Mendon Capital Advisors Corp Takes Position in Ameris Bancorp $ABCB

Mendon Capital Advisors Corp bought a new position in Ameris Bancorp (NASDAQ:ABCB) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,500 shares of the bank’s stock, valued at approximately $720,000.

A number of other hedge funds have also modified their holdings of ABCB. American Century Companies Inc. boosted its position in shares of Ameris Bancorp by 36.2% in the first quarter. American Century Companies Inc. now owns 1,875,194 shares of the bank’s stock worth $107,955,000 after buying an additional 498,604 shares during the period. Nuveen LLC bought a new position in Ameris Bancorp during the first quarter valued at about $56,202,000. Congress Asset Management Co. increased its stake in shares of Ameris Bancorp by 13.6% in the first quarter. Congress Asset Management Co. now owns 933,493 shares of the bank’s stock worth $53,741,000 after purchasing an additional 111,939 shares during the period. FJ Capital Management LLC increased its stake in shares of Ameris Bancorp by 311.3% in the first quarter. FJ Capital Management LLC now owns 785,288 shares of the bank’s stock worth $45,209,000 after purchasing an additional 594,340 shares during the period. Finally, Northern Trust Corp increased its stake in Ameris Bancorp by 2.9% during the first quarter. Northern Trust Corp now owns 731,836 shares of the bank’s stock valued at $42,132,000 after acquiring an additional 20,355 shares during the period. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, DA Davidson set a $81.00 target price on Ameris Bancorp and gave the stock a “buy” rating in a report on Wednesday, July 30th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $72.14.

Ameris Bancorp Stock Down 0.2%

Shares of ABCB opened at $73.44 on Wednesday. Ameris Bancorp has a 12 month low of $48.27 and a 12 month high of $75.46. The firm’s 50 day moving average is $69.21 and its 200-day moving average is $62.66. The stock has a market capitalization of $5.04 billion, a PE ratio of 14.10 and a beta of 0.97. 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.