Amundi Sells 6,578 Shares of Ameris Bancorp $ABCB

Amundi lowered its stake in Ameris Bancorp (NASDAQ:ABCB) by 19.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 27,001 shares of the bank’s stock after selling 6,578 shares during the quarter. Amundi’s holdings in Ameris Bancorp were worth $1,554,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABCB. Park Square Financial Group LLC bought a new stake in Ameris Bancorp in the fourth quarter valued at approximately $37,000. Versant Capital Management Inc raised its holdings in shares of Ameris Bancorp by 84.1% during the first quarter. Versant Capital Management Inc now owns 731 shares of the bank’s stock valued at $42,000 after acquiring an additional 334 shares in the last quarter. Optimum Investment Advisors bought a new position in shares of Ameris Bancorp during the first quarter valued at approximately $128,000. State of Wyoming raised its holdings in shares of Ameris Bancorp by 8.3% during the first quarter. State of Wyoming now owns 2,346 shares of the bank’s stock valued at $135,000 after acquiring an additional 179 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in shares of Ameris Bancorp by 1,120.2% during the first quarter. Meeder Asset Management Inc. now owns 2,904 shares of the bank’s stock valued at $167,000 after acquiring an additional 2,666 shares in the last quarter. Institutional investors own 91.64% of the company’s stock.

Wall Street Analyst Weigh In

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

Ameris Bancorp Price Performance

Shares of ABCB stock opened at $74.40 on Friday. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of 14.28 and a beta of 0.97. The business’s fifty day moving average is $69.62 and its 200 day moving average is $62.90. Ameris Bancorp has a twelve month low of $48.27 and a twelve month high of $75.46. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11.

Ameris Bancorp 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.