Polaris Capital Management buys $28.2 Million stake in Ameris Bancorp (ABCB)

Ameris Bancorp (ABCB) : Polaris Capital Management scooped up 73,139 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 915,143 shares of Ameris Bancorp which is valued at $28.2 Million.Ameris Bancorp makes up approximately 2.52% of Polaris Capital Management’s portfolio.

Other Hedge Funds, Including , Public Sector Pension Investment Board boosted its stake in ABCB in the latest quarter, The investment management firm added 1,600 additional shares and now holds a total of 19,600 shares of Ameris Bancorp which is valued at $603,876. Ameris Bancorp makes up approx 0.01% of Public Sector Pension Investment Board’s portfolio.Ubs Asset Management Americas Inc reduced its stake in ABCB by selling 1,600 shares or 10.21% in the most recent quarter. The Hedge Fund company now holds 14,064 shares of ABCB which is valued at $433,312.State Board Of Administration Of Florida Retirement System boosted its stake in ABCB in the latest quarter, The investment management firm added 1,499 additional shares and now holds a total of 17,252 shares of Ameris Bancorp which is valued at $531,189.Emerald Mutual Fund Advisers Trust reduced its stake in ABCB by selling 338,977 shares or 59.41% in the most recent quarter. The Hedge Fund company now holds 231,628 shares of ABCB which is valued at $7.3 Million. Ameris Bancorp makes up approx 0.41% of Emerald Mutual Fund Advisers Trust’s portfolio.Northpointe Capital boosted its stake in ABCB in the latest quarter, The investment management firm added 35,995 additional shares and now holds a total of 388,286 shares of Ameris Bancorp which is valued at $12.2 Million. Ameris Bancorp makes up approx 1.48% of Northpointe Capital’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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