A number of other research analysts also recently issued reports on ABCB. SunTrust Banks cut their price objective on Ameris Bancorp from $47.00 to $45.00 and set a buy rating for the company in a research note on Tuesday, August 27th. TheStreet upgraded Ameris Bancorp from a c+ rating to a b- rating in a research note on Wednesday, June 19th. Stephens reiterated a buy rating and set a $52.00 price objective on shares of Ameris Bancorp in a research note on Monday, July 1st. Zacks Investment Research upgraded Ameris Bancorp from a strong sell rating to a hold rating in a research note on Thursday, August 1st. Finally, Raymond James began coverage on Ameris Bancorp in a research note on Thursday, July 11th. They set an outperform rating and a $45.00 price objective for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. The company has an average rating of Buy and an average price target of $46.00.
Shares of NASDAQ:ABCB traded up $0.88 during mid-day trading on Thursday, reaching $39.55. 37,652 shares of the company traded hands, compared to its average volume of 286,573. The company’s 50 day moving average price is $36.70 and its 200-day moving average price is $37.02. The firm has a market cap of $2.56 billion, a PE ratio of 11.68 and a beta of 1.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.00 and a quick ratio of 0.97. Ameris Bancorp has a 52 week low of $29.97 and a 52 week high of $49.90.
Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings data on Friday, July 26th. The bank reported $0.96 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.96. The company had revenue of $136.90 million during the quarter, compared to the consensus estimate of $139.72 million. Ameris Bancorp had a return on equity of 12.01% and a net margin of 26.23%. The firm’s revenue was up 27.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 EPS. On average, research analysts predict that Ameris Bancorp will post 3.79 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of ABCB. BlackRock Inc. lifted its holdings in Ameris Bancorp by 23.9% in the 2nd quarter. BlackRock Inc. now owns 7,510,872 shares of the bank’s stock worth $294,351,000 after purchasing an additional 1,450,551 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in Ameris Bancorp by 2,786.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 264,225 shares of the bank’s stock worth $10,355,000 after purchasing an additional 255,071 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Ameris Bancorp by 179.3% in the 1st quarter. JPMorgan Chase & Co. now owns 269,062 shares of the bank’s stock worth $9,242,000 after purchasing an additional 172,723 shares in the last quarter. Morgan Stanley lifted its holdings in Ameris Bancorp by 1,084.5% in the 2nd quarter. Morgan Stanley now owns 181,818 shares of the bank’s stock worth $7,125,000 after purchasing an additional 166,468 shares in the last quarter. Finally, Castine Capital Management LLC lifted its holdings in Ameris Bancorp by 424.9% in the 2nd quarter. Castine Capital Management LLC now owns 137,007 shares of the bank’s stock worth $5,369,000 after purchasing an additional 110,906 shares in the last quarter. 90.68% of the stock is currently owned by institutional investors.
Ameris Bancorp Company Profile
Ameris Bancorp operates as the bank holding company for Ameris Bank that provides banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, and South Carolina. The company operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division.
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