ValuEngine downgraded shares of Ameris Bancorp (NASDAQ:ABCB) from a buy rating to a hold rating in a research note issued to investors on Thursday, November 9th.
Several other analysts have also weighed in on ABCB. BidaskClub lowered Ameris Bancorp from a sell rating to a strong sell rating in a report on Thursday, July 27th. Piper Jaffray Companies reaffirmed a hold rating and issued a $48.00 price objective on shares of Ameris Bancorp in a research report on Friday, July 21st. Zacks Investment Research raised Ameris Bancorp from a sell rating to a hold rating in a research report on Thursday, October 12th. Stephens reissued a buy rating and set a $54.00 price target on shares of Ameris Bancorp in a research report on Friday, July 21st. Finally, Keefe, Bruyette & Woods reissued a hold rating and set a $52.00 price target on shares of Ameris Bancorp in a research report on Thursday, October 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Ameris Bancorp currently has a consensus rating of Hold and an average target price of $52.25.
Ameris Bancorp (NASDAQ:ABCB) opened at $48.95 on Thursday. The firm has a market capitalization of $1,775.92, a PE ratio of 19.23 and a beta of 1.19. Ameris Bancorp has a 52-week low of $41.05 and a 52-week high of $51.28. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.07 and a quick ratio of 1.04.
Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings data on Thursday, October 19th. The bank reported $0.63 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.02). The company had revenue of $93.85 million for the quarter, compared to the consensus estimate of $96.89 million. Ameris Bancorp had a net margin of 21.57% and a return on equity of 12.12%. equities analysts forecast that Ameris Bancorp will post 2.48 earnings per share for the current year.
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In related news, Director Leo J. Hill bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The shares were purchased at an average cost of $42.75 per share, with a total value of $42,750.00. Following the completion of the acquisition, the director now directly owns 16,629 shares in the company, valued at $710,889.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.63% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its stake in shares of Ameris Bancorp by 83,097.4% in the first quarter. BlackRock Inc. now owns 4,668,206 shares of the bank’s stock worth $215,205,000 after acquiring an additional 4,662,595 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Ameris Bancorp by 2.6% in the second quarter. Vanguard Group Inc. now owns 2,588,877 shares of the bank’s stock worth $124,784,000 after acquiring an additional 65,815 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Ameris Bancorp by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,559,197 shares of the bank’s stock worth $75,154,000 after acquiring an additional 25,010 shares during the last quarter. State Street Corp boosted its stake in shares of Ameris Bancorp by 7.3% in the second quarter. State Street Corp now owns 1,258,947 shares of the bank’s stock worth $60,687,000 after acquiring an additional 85,137 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Ameris Bancorp by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 1,217,548 shares of the bank’s stock worth $58,686,000 after acquiring an additional 20,713 shares during the last quarter. 82.71% of the stock is currently owned by institutional investors.
Ameris Bancorp Company Profile
Ameris Bancorp is a financial holding company. The Company’s business is conducted through its banking subsidiary, Ameris Bank (the Bank), which provides a range of banking services to its retail and commercial customers. The Company operates through four segments: the Banking Division, the Retail Mortgage Division, the Warehouse Lending Division and the SBA Division.
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