Ameris Bancorp (NASDAQ:ABCB) is Castine Capital Management LLC’s 3rd Largest Position

Castine Capital Management LLC boosted its stake in shares of Ameris Bancorp (NASDAQ:ABCB) by 8.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 268,532 shares of the bank’s stock after buying an additional 21,833 shares during the quarter. Ameris Bancorp makes up approximately 4.8% of Castine Capital Management LLC’s portfolio, making the stock its 3rd biggest position. Castine Capital Management LLC owned 0.72% of Ameris Bancorp worth $12,890,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Alps Advisors Inc. lifted its stake in Ameris Bancorp by 0.3% in the second quarter. Alps Advisors Inc. now owns 10,298 shares of the bank’s stock valued at $496,000 after purchasing an additional 27 shares during the last quarter. Jennison Associates LLC lifted its stake in Ameris Bancorp by 0.5% in the second quarter. Jennison Associates LLC now owns 27,731 shares of the bank’s stock valued at $1,337,000 after purchasing an additional 136 shares during the last quarter. Amalgamated Bank raised its holdings in Ameris Bancorp by 4.0% during the 2nd quarter. Amalgamated Bank now owns 4,737 shares of the bank’s stock valued at $228,000 after acquiring an additional 183 shares during the period. Ameritas Investment Partners Inc. raised its holdings in Ameris Bancorp by 8.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,188 shares of the bank’s stock valued at $154,000 after acquiring an additional 248 shares during the period. Finally, Arizona State Retirement System raised its holdings in Ameris Bancorp by 1.6% during the 2nd quarter. Arizona State Retirement System now owns 19,400 shares of the bank’s stock valued at $935,000 after acquiring an additional 300 shares during the period. 81.98% of the stock is owned by hedge funds and other institutional investors.

In related news, insider James A. Lahaise sold 14,200 shares of Ameris Bancorp stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $46.58, for a total transaction of $661,436.00. Following the completion of the transaction, the insider now directly owns 73,986 shares of the company’s stock, valued at approximately $3,446,267.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.63% of the stock is currently owned by insiders.

Ameris Bancorp (NASDAQ ABCB) traded down $0.55 on Friday, hitting $48.20. 171,162 shares of the company were exchanged, compared to its average volume of 249,737. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.04 and a current ratio of 1.07. The stock has a market cap of $1,790.00, a PE ratio of 21.42 and a beta of 1.19. Ameris Bancorp has a 52 week low of $41.05 and a 52 week high of $51.30.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings results on Thursday, October 19th. The bank reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). Ameris Bancorp had a net margin of 21.57% and a return on equity of 12.12%. The company had revenue of $93.85 million during the quarter, compared to the consensus estimate of $96.89 million. equities research analysts anticipate that Ameris Bancorp will post 2.48 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th will be issued a $0.10 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.83%. Ameris Bancorp’s dividend payout ratio (DPR) is presently 17.78%.

A number of research analysts recently commented on the company. ValuEngine lowered shares of Ameris Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Piper Jaffray Companies set a $48.00 target price on shares of Ameris Bancorp and gave the stock a “hold” rating in a report on Friday, October 6th. BidaskClub downgraded shares of Ameris Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Keefe, Bruyette & Woods raised shares of Ameris Bancorp from a “market perform” rating to an “outperform” rating in a research note on Monday, November 20th. Finally, Stephens reaffirmed a “buy” rating and set a $52.00 target price on shares of Ameris Bancorp in a research note on Thursday, September 28th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Ameris Bancorp presently has an average rating of “Hold” and a consensus target price of $52.25.

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About Ameris Bancorp

Ameris Bancorp is a financial holding company. The Company’s business is conducted through its banking subsidiary, Ameris Bank (the Bank), which provides a range of banking services to its retail and commercial customers. The Company operates through four segments: the Banking Division, the Retail Mortgage Division, the Warehouse Lending Division and the SBA Division.

Institutional Ownership by Quarter for Ameris Bancorp (NASDAQ:ABCB)

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