Ameris Bancorp $ABCB Position Increased by Intech Investment Management LLC

Intech Investment Management LLC increased its holdings in Ameris Bancorp (NASDAQ:ABCB) by 55.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,656 shares of the bank’s stock after acquiring an additional 22,377 shares during the period. Intech Investment Management LLC owned about 0.09% of Ameris Bancorp worth $3,607,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ABCB. Jane Street Group LLC bought a new stake in Ameris Bancorp during the first quarter worth approximately $10,528,000. SageView Advisory Group LLC grew its position in Ameris Bancorp by 2.5% during the 1st quarter. SageView Advisory Group LLC now owns 7,107 shares of the bank’s stock worth $409,000 after acquiring an additional 176 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Ameris Bancorp by 7.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 187,024 shares of the bank’s stock worth $10,767,000 after acquiring an additional 13,633 shares during the last quarter. United Services Automobile Association bought a new position in Ameris Bancorp in the first quarter valued at about $243,000. Finally, Jones Financial Companies Lllp bought a new position in Ameris Bancorp in the first quarter valued at approximately $5,567,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

Ameris Bancorp Stock Performance

Shares of NASDAQ ABCB opened at $74.40 on Friday. The stock has a market capitalization of $5.10 billion, a PE ratio of 14.28 and a beta of 0.97. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. The stock has a 50 day moving average price of $69.62 and a 200 day moving average price of $62.90. Ameris Bancorp has a 52 week low of $48.27 and a 52 week high of $75.46.

Analyst Upgrades and Downgrades

Separately, DA Davidson set a $81.00 price target on shares of Ameris Bancorp and gave the company a “buy” rating in a research 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.14.

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.