Ameris Bancorp (NASDAQ:ABCB) – Analysts at SunTrust Banks decreased their FY2017 earnings estimates for Ameris Bancorp in a research note issued on Monday, Zacks Investment Research reports. SunTrust Banks analyst J. Demba now anticipates that the bank will post earnings per share of $2.46 for the year, down from their prior forecast of $2.47. SunTrust Banks also issued estimates for Ameris Bancorp’s Q4 2017 earnings at $0.61 EPS, Q1 2018 earnings at $0.68 EPS, Q2 2018 earnings at $0.76 EPS, Q4 2018 earnings at $0.88 EPS, FY2018 earnings at $3.18 EPS and FY2019 earnings at $3.80 EPS.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, September 15th. Piper Jaffray Companies set a $50.00 target price on shares of Ameris Bancorp and gave the stock a “hold” rating in a research report on Monday, October 23rd. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $52.00 target price on shares of Ameris Bancorp in a research report on Thursday, October 26th. Stephens reiterated a “buy” rating and set a $52.00 target price on shares of Ameris Bancorp in a research report on Thursday, September 28th. Finally, ValuEngine downgraded shares of Ameris Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Ameris Bancorp currently has an average rating of “Hold” and a consensus price target of $52.25.
Ameris Bancorp (NASDAQ:ABCB) traded down $0.90 during trading hours on Tuesday, reaching $48.40. 151,039 shares of the company traded hands, compared to its average volume of 194,475. The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 1.11. Ameris Bancorp has a twelve month low of $41.05 and a twelve month high of $51.30. The firm has a market cap of $1,820.00, a P/E ratio of 20.20 and a beta of 1.19.
Ameris Bancorp (NASDAQ:ABCB) last posted its earnings results on Thursday, October 19th. The bank reported $0.63 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.02). Ameris Bancorp had a return on equity of 12.12% and a net margin of 21.57%. The business had revenue of $93.85 million for the quarter, compared to analyst estimates of $96.89 million.
In other news, Director Leo J. Hill purchased 1,000 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were purchased at an average price of $42.75 per share, for a total transaction of $42,750.00. Following the transaction, the director now owns 16,629 shares of the company’s stock, valued at $710,889.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 3.63% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in ABCB. OppenheimerFunds Inc. acquired a new position in shares of Ameris Bancorp during the 1st quarter valued at $279,000. Teachers Advisors LLC lifted its position in shares of Ameris Bancorp by 5.2% during the 1st quarter. Teachers Advisors LLC now owns 83,142 shares of the bank’s stock valued at $3,833,000 after acquiring an additional 4,120 shares during the period. Vanguard Group Inc. lifted its position in shares of Ameris Bancorp by 47.6% during the 1st quarter. Vanguard Group Inc. now owns 2,523,062 shares of the bank’s stock valued at $116,312,000 after acquiring an additional 813,184 shares during the period. New York State Teachers Retirement System lifted its position in shares of Ameris Bancorp by 1.3% during the 1st quarter. New York State Teachers Retirement System now owns 15,098 shares of the bank’s stock valued at $696,000 after acquiring an additional 200 shares during the period. Finally, Amalgamated Bank acquired a new position in shares of Ameris Bancorp during the 1st quarter valued at $210,000. Institutional investors own 82.01% of the company’s stock.
About Ameris Bancorp
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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