Mendon Capital Advisors Corp Sells 257,146 Shares of Ameris Bancorp (NASDAQ:ABCB)
Mendon Capital Advisors Corp lessened its holdings in Ameris Bancorp (NASDAQ:ABCB) by 25.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 759,429 shares of the bank’s stock after selling 257,146 shares during the period. Ameris Bancorp makes up 4.7% of Mendon Capital Advisors Corp’s investment portfolio, making the stock its 4th largest position. Mendon Capital Advisors Corp owned 1.60% of Ameris Bancorp worth $29,762,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in ABCB. Jennison Associates LLC lifted its stake in Ameris Bancorp by 2.1% during the 2nd quarter. Jennison Associates LLC now owns 967,428 shares of the bank’s stock worth $37,914,000 after acquiring an additional 19,600 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Ameris Bancorp by 7.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 877,935 shares of the bank’s stock worth $34,405,000 after acquiring an additional 61,421 shares in the last quarter. Jacobs Asset Management LLC lifted its stake in Ameris Bancorp by 1.8% during the 2nd quarter. Jacobs Asset Management LLC now owns 695,286 shares of the bank’s stock worth $27,248,000 after acquiring an additional 12,500 shares in the last quarter. Investment Counselors of Maryland LLC lifted its stake in Ameris Bancorp by 1.1% during the 2nd quarter. Investment Counselors of Maryland LLC now owns 597,295 shares of the bank’s stock worth $23,408,000 after acquiring an additional 6,614 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Ameris Bancorp by 5.2% during the 2nd quarter. Northern Trust Corp now owns 583,792 shares of the bank’s stock worth $22,879,000 after acquiring an additional 29,019 shares in the last quarter. 90.68% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ ABCB traded up $0.92 during trading hours on Friday, hitting $39.59. 34,522 shares of the company were exchanged, compared to its average volume of 286,573. The company has a 50 day moving average of $36.70 and a two-hundred day moving average of $37.02. The company has a quick ratio of 0.97, a current ratio of 1.00 and a debt-to-equity ratio of 0.43. Ameris Bancorp has a 52-week low of $29.97 and a 52-week high of $49.90. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 11.70 and a beta of 1.50.
ABCB has been the topic of several research reports. Raymond James initiated coverage on Ameris Bancorp in a research note on Thursday, July 11th. They set an “outperform” rating and a $45.00 target price on the stock. TheStreet raised Ameris Bancorp from a “c+” rating to a “b-” rating in a research note on Wednesday, June 19th. BidaskClub raised Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday. SunTrust Banks decreased their target price on Ameris Bancorp from $47.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Finally, Zacks Investment Research raised Ameris Bancorp from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $46.00.
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.
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