Ameris Bancorp (NASDAQ:ABCB) has received an average recommendation of “Buy” from the eight brokerages that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $56.00.
Several research analysts have weighed in on the stock. SunTrust Banks increased their target price on shares of Ameris Bancorp from $10.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. ValuEngine lowered shares of Ameris Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Zacks Investment Research lowered shares of Ameris Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. BidaskClub lowered shares of Ameris Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $52.00 target price on shares of Ameris Bancorp in a research note on Thursday, October 26th.
Shares of Ameris Bancorp (ABCB) traded down $0.65 on Friday, hitting $53.80. 162,438 shares of the company were exchanged, compared to its average volume of 213,915. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.98 and a quick ratio of 0.95. Ameris Bancorp has a 12-month low of $41.05 and a 12-month high of $56.85. The stock has a market capitalization of $2,061.33, a price-to-earnings ratio of 21.67 and a beta of 1.24.
Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings data on Friday, January 26th. The bank reported $0.63 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.63. Ameris Bancorp had a net margin of 18.44% and a return on equity of 11.73%. The firm had revenue of $89.90 million during the quarter, compared to analyst estimates of $96.28 million. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Ameris Bancorp’s quarterly revenue was up 3.1% on a year-over-year basis. equities analysts anticipate that Ameris Bancorp will post 3.49 EPS for the current year.
In other news, insider James A. Lahaise sold 14,200 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $46.58, for a total transaction of $661,436.00. Following the sale, the insider now owns 73,986 shares of the company’s stock, valued at $3,446,267.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Dennis J. Zember, Jr. sold 5,000 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $54.81, for a total transaction of $274,050.00. Following the sale, the chief operating officer now directly owns 156,063 shares in the company, valued at approximately $8,553,813.03. The disclosure for this sale can be found here. Insiders have sold 20,023 shares of company stock worth $979,228 in the last three months. Corporate insiders own 3.63% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of ABCB. Bank of Montreal Can raised its holdings in Ameris Bancorp by 45.8% in the fourth quarter. Bank of Montreal Can now owns 3,188 shares of the bank’s stock valued at $153,000 after acquiring an additional 1,002 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in Ameris Bancorp by 8.4% in the second quarter. Ameritas Investment Partners Inc. now owns 3,188 shares of the bank’s stock valued at $154,000 after acquiring an additional 248 shares in the last quarter. Aperio Group LLC acquired a new stake in Ameris Bancorp in the third quarter valued at approximately $204,000. Elkfork Partners LLC acquired a new stake in Ameris Bancorp in the fourth quarter valued at approximately $246,000. Finally, SG Americas Securities LLC acquired a new stake in Ameris Bancorp in the third quarter valued at approximately $285,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.
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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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