Ameris Bancorp (NASDAQ:ABCB) Shares Purchased by Vestcor Inc

Vestcor Inc raised its holdings in Ameris Bancorp (NASDAQ:ABCB - Free Report) by 579.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,635 shares of the bank's stock after acquiring an additional 12,481 shares during the quarter. Vestcor Inc's holdings in Ameris Bancorp were worth $916,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABCB. Swiss National Bank increased its stake in shares of Ameris Bancorp by 0.6% during the fourth quarter. Swiss National Bank now owns 129,044 shares of the bank's stock valued at $8,074,000 after buying an additional 800 shares during the period. HighTower Advisors LLC bought a new position in Ameris Bancorp during the 4th quarter worth about $552,000. Wealthfront Advisers LLC purchased a new position in Ameris Bancorp during the 4th quarter valued at about $3,078,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Ameris Bancorp by 23.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,977 shares of the bank's stock valued at $1,062,000 after purchasing an additional 3,244 shares in the last quarter. Finally, AlphaQuest LLC increased its holdings in Ameris Bancorp by 177.4% during the fourth quarter. AlphaQuest LLC now owns 26,053 shares of the bank's stock valued at $1,630,000 after buying an additional 16,662 shares during the period. Hedge funds and other institutional investors own 91.64% of the company's stock.

Insider Buying and Selling at Ameris Bancorp

In other news, insider Douglas D. Strange acquired 1,000 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was bought at an average price of $56.95 per share, with a total value of $56,950.00. Following the completion of the acquisition, the insider now owns 19,403 shares of the company's stock, valued at approximately $1,105,000.85. This represents a 5.43 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.50% of the stock is currently owned by corporate insiders.

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Ameris Bancorp Stock Performance

NASDAQ ABCB traded up $0.23 on Wednesday, reaching $57.99. 397,593 shares of the company's stock traded hands, compared to its average volume of 339,575. The stock has a 50 day moving average price of $63.29 and a 200-day moving average price of $64.06. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of 11.13 and a beta of 1.02. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02. Ameris Bancorp has a fifty-two week low of $44.23 and a fifty-two week high of $74.56.

Analyst Ratings Changes

Several analysts have issued reports on ABCB shares. Raymond James reiterated an "outperform" rating and issued a $71.00 price target (up from $67.00) on shares of Ameris Bancorp in a report on Monday, February 3rd. Keefe, Bruyette & Woods raised their price target on shares of Ameris Bancorp from $70.00 to $80.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Finally, Stephens reiterated an "equal weight" rating and set a $71.00 price objective on shares of Ameris Bancorp in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $70.50.

About Ameris Bancorp

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.