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.
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.
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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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