Ameris Bancorp (NASDAQ:ABCB) Shorts Decreased by 3.32% After Short Covering


The stock of Ameris Bancorp (NASDAQ:ABCB) registered a decrease of 3.32% in short interest. ABCB’s total short interest was 1.07 million shares in September as published by FINRA. Its down 3.32% from 1.10 million shares, reported previously. With 100,700 shares average volume, it will take short sellers 11 days to cover their ABCB’s short positions. The short interest to Ameris Bancorp’s float is 3.17%. About 19,946 shares traded hands. Ameris Bancorp (NASDAQ:ABCB) has risen 38.19% since February 8, 2016 and is uptrending. It has outperformed by 21.70% the S&P500.

Ameris Bancorp is a financial holding company. The company has a market cap of $1.23 billion. The Company’s business is conducted through its banking subsidiary, Ameris Bank , which provides a range of banking services to its retail and commercial customers. It has a 19.06 P/E ratio. The Firm operates through four divisions: the Banking Division, the Retail Mortgage Division, the Warehouse Lending Division and the SBA Division.

The institutional sentiment decreased to 1.26 in 2016 Q2. Its down 0.20, from 1.46 in 2016Q1. The ratio is negative, as 12 funds sold all Ameris Bancorp shares owned while 38 reduced positions. 10 funds bought stakes while 53 increased positions. They now own 26.23 million shares or 5.94% less from 27.89 million shares in 2016Q1.

Alpenglow Capital Lp holds 11.11% of its portfolio in Ameris Bancorp for 409,450 shares. Consector Capital Lp owns 147,036 shares or 10.2% of their US portfolio. Moreover, Jacobs Asset Management Llc has 6.88% invested in the company for 772,712 shares. The Massachusetts-based Castine Capital Management Llc has invested 4.41% in the stock. Polaris Capital Management Llc, a Massachusetts-based fund reported 917,543 shares.

Out of 4 analysts covering Ameris Bancorp (NASDAQ:ABCB), 1 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 25% are positive. $37 is the highest target while $30.50 is the lowest. The $32.83 average target is -7.21% below today’s ($35.38) stock price. Ameris Bancorp has been the topic of 5 analyst reports since October 2, 2015 according to StockzIntelligence Inc. Piper Jaffray downgraded the stock on April 26 to “Neutral” rating. Keefe Bruyette & Woods downgraded the shares of ABCB in a report on October 29 to “Market Perform” rating.

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