Ameris Bancorp (ABCB) Given Average Rating of “Buy” by Brokerages

Shares of Ameris Bancorp (NASDAQ:ABCB) have been given an average recommendation of “Buy” by the eight research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $56.00.

A number of equities analysts recently commented on the company. Zacks Investment Research lowered Ameris Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, March 12th. BidaskClub raised Ameris Bancorp from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 9th. ValuEngine raised Ameris Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Sandler O’Neill set a $57.00 price objective on Ameris Bancorp and gave the stock a “hold” rating in a research note on Monday, January 29th. Finally, SunTrust Banks lifted their price objective on Ameris Bancorp from $10.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, January 29th.

How to Become a New Pot Stock Millionaire

In other Ameris Bancorp news, insider Edwin W. Hortman, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $57.49, for a total value of $574,900.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Lawton E. Bassett III sold 823 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $53.15, for a total value of $43,742.45. Following the completion of the transaction, the president now directly owns 19,408 shares in the company, valued at $1,031,535.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,159 shares of company stock worth $2,575,646. 3.63% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Aperio Group LLC lifted its stake in Ameris Bancorp by 145.0% in the fourth quarter. Aperio Group LLC now owns 10,436 shares of the bank’s stock valued at $503,000 after buying an additional 6,177 shares during the period. Citadel Advisors LLC acquired a new position in Ameris Bancorp in the fourth quarter valued at approximately $1,222,000. Swiss National Bank lifted its stake in Ameris Bancorp by 4.2% in the fourth quarter. Swiss National Bank now owns 64,764 shares of the bank’s stock valued at $3,122,000 after buying an additional 2,600 shares during the period. Family Legacy Inc. acquired a new position in Ameris Bancorp in the fourth quarter valued at approximately $590,000. Finally, Maltese Capital Management LLC lifted its stake in Ameris Bancorp by 4.0% in the third quarter. Maltese Capital Management LLC now owns 581,101 shares of the bank’s stock valued at $27,893,000 after buying an additional 22,201 shares during the period. 83.25% of the stock is currently owned by hedge funds and other institutional investors.

Ameris Bancorp (NASDAQ ABCB) traded up $0.10 during trading hours on Wednesday, hitting $56.60. The stock had a trading volume of 309,406 shares, compared to its average volume of 230,949. The company has a market capitalization of $2,160.59, a PE ratio of 28.44 and a beta of 1.21. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 0.98. Ameris Bancorp has a 52 week low of $41.05 and a 52 week high of $59.05.

Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings results on Friday, January 26th. The bank reported $0.63 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.63. The company had revenue of $89.90 million for the quarter, compared to analysts’ expectations of $96.28 million. Ameris Bancorp had a return on equity of 11.73% and a net margin of 18.44%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.63 earnings per share. equities analysts forecast that Ameris Bancorp will post 3.49 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Ameris Bancorp (ABCB) Given Average Rating of “Buy” by Brokerages” was reported by The Lincolnian Online and is the property of of The Lincolnian Online. If you are accessing this article on another publication, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The legal version of this article can be viewed at https://www.thelincolnianonline.com/2018/04/11/ameris-bancorp-abcb-given-average-rating-of-buy-by-brokerages.html.

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.

Analyst Recommendations for Ameris Bancorp (NASDAQ:ABCB)

Receive News & Ratings for Ameris Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameris Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply