Ameris Bancorp (NASDAQ:ABCB) Stock Position Lifted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Ameris Bancorp (NASDAQ:ABCB) by 23.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,977 shares of the bank’s stock after acquiring an additional 3,244 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ameris Bancorp were worth $1,062,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Jennison Associates LLC acquired a new position in Ameris Bancorp in the fourth quarter worth $10,856,000. Charles Schwab Investment Management Inc. lifted its position in shares of Ameris Bancorp by 9.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 907,140 shares of the bank’s stock worth $56,596,000 after buying an additional 79,060 shares during the last quarter. Barclays PLC boosted its holdings in shares of Ameris Bancorp by 107.7% in the 3rd quarter. Barclays PLC now owns 140,001 shares of the bank’s stock valued at $8,735,000 after buying an additional 72,599 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of Ameris Bancorp by 135.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 115,194 shares of the bank’s stock valued at $7,187,000 after buying an additional 66,287 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in shares of Ameris Bancorp by 2,768.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 68,384 shares of the bank’s stock valued at $4,292,000 after buying an additional 66,000 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Douglas D. Strange bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $56.95 per share, for a total transaction of $56,950.00. Following the transaction, the insider now directly owns 19,403 shares of the company’s stock, valued at approximately $1,105,000.85. This represents a 5.43 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

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

Ameris Bancorp Stock Performance

Shares of ABCB stock opened at $57.99 on Thursday. The business has a 50 day simple moving average of $63.23 and a 200 day simple moving average of $64.01. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of 11.13 and a beta of 1.02. Ameris Bancorp has a 12-month low of $44.23 and a 12-month high of $74.56.

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.