Consector Capital Lp buys $3.8 Million stake in Ameris Bancorp (ABCB)

Ameris Bancorp (ABCB) : Consector Capital Lp scooped up 45,000 additional shares in Ameris Bancorp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 122,400 shares of Ameris Bancorp which is valued at $3.8 Million.Ameris Bancorp makes up approximately 8.60% of Consector Capital Lp’s portfolio.

Other Hedge Funds, Including , Wellington Management Group Llp reduced its stake in ABCB by selling 1,240,013 shares or 40.75% in the most recent quarter. The Hedge Fund company now holds 1,802,657 shares of ABCB which is valued at $55.5 Million. Ameris Bancorp makes up approx 0.01% of Wellington Management Group Llp’s portfolio.Manufacturers Life Insurance Company The boosted its stake in ABCB in the latest quarter, The investment management firm added 4,001 additional shares and now holds a total of 1,203,332 shares of Ameris Bancorp which is valued at $37.1 Million. Ameris Bancorp makes up approx 0.06% of Manufacturers Life Insurance Company The’s portfolio.Ifc Holdings Incorporatedfl reduced its stake in ABCB by selling 200 shares or 2.79% in the most recent quarter. The Hedge Fund company now holds 6,972 shares of ABCB which is valued at $214,668. Ameris Bancorp makes up approx 0.03% of Ifc Holdings Incorporatedfl’s portfolio.

Ameris Bancorp opened for trading at $31.34 and hit $32.2274 on the upside on Wednesday, eventually ending the session at $32, with a gain of 2.73% or 0.85 points. The heightened volatility saw the trading volume jump to 5,23,378 shares. Company has a market cap of $1,115 M.

Many Wall Street Analysts have commented on Ameris Bancorp. Ameris Bancorp was Downgraded by Piper Jaffray to ” Neutral” on Apr 26, 2016.

Ameris Bancorp is a financial holding company. The Company’s business is conducted primarily through its wholly owned banking subsidiary Ameris Bank (the Bank) which provides a range of banking services to its retail and commercial customers. Its customers are primarily concentrated in markets in Georgia Alabama Florida and South Carolina. It performs certain shareholder and investor relations functions. The Company maintains a diversified loan portfolio by providing a range of commercial and retail lending services to business entities and individuals. It invests in federal state and municipal obligations corporate obligations public housing authority bonds industrial development revenue bonds securities issued by Government-Sponsored Enterprises (GSEs) and satisfactorily-rated trust preferred obligations. The Company provides a range of deposit accounts and services to both retail and commercial customers.

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