Castine Capital Management Lowers stake in Ameris Bancorp (ABCB)

Ameris Bancorp (ABCB) : Castine Capital Management reduced its stake in Ameris Bancorp by 5.41% during the most recent quarter end. The investment management company now holds a total of 309,614 shares of Ameris Bancorp which is valued at $10,294,666 after selling 17,723 shares in Ameris Bancorp , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Ameris Bancorp makes up approximately 4.64% of Castine Capital Management’s portfolio.

Other Hedge Funds, Including , D. E. Shaw reduced its stake in ABCB by selling 6,268 shares or 21.49% in the most recent quarter. The Hedge Fund company now holds 22,899 shares of ABCB which is valued at $761,392.Pinebridge Investments boosted its stake in ABCB in the latest quarter, The investment management firm added 116 additional shares and now holds a total of 3,514 shares of Ameris Bancorp which is valued at $116,841. Ameris Bancorp makes up approx 0.01% of Pinebridge Investments’s portfolio. Advisors Asset Management sold out all of its stake in ABCB during the most recent quarter. The investment firm sold 2,915 shares of ABCB which is valued $97,361.

Ameris Bancorp opened for trading at $35 and hit $35.07 on the upside on Thursday, eventually ending the session at $34.99, with a gain of 0.49% or 0.17 points. The heightened volatility saw the trading volume jump to 2,31,224 shares. Company has a market cap of $1,220 M.

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Ameris Bancorp - Is it time to Sell?

Top Brokerage Firms are advising their investors on Ameris Bancorp. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.