Ameris Bancorp (ABCB) Rating Reiterated by Keefe, Bruyette & Woods
Ameris Bancorp (NASDAQ:ABCB)‘s stock had its “hold” rating reissued by equities research analysts at Keefe, Bruyette & Woods in a report issued on Wednesday. They currently have a $51.00 target price on the bank’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 12.71% from the stock’s previous close.
ABCB has been the subject of several other research reports. Zacks Investment Research downgraded shares of Ameris Bancorp from a “buy” rating to a “hold” rating in a report on Monday, March 6th. SunTrust Banks, Inc. raised shares of Ameris Bancorp from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Wednesday, April 26th. Finally, Stephens reaffirmed a “buy” rating and issued a $52.00 price objective on shares of Ameris Bancorp in a report on Friday, April 21st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $49.20.
Ameris Bancorp (NASDAQ:ABCB) opened at 45.25 on Wednesday. The stock has a 50 day moving average of $45.63 and a 200-day moving average of $45.15. Ameris Bancorp has a one year low of $27.92 and a one year high of $49.50. The stock has a market cap of $1.61 billion, a P/E ratio of 19.75 and a beta of 1.39.
Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings data on Friday, April 21st. The bank reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. The business had revenue of $86.30 million during the quarter, compared to the consensus estimate of $86.84 million. Ameris Bancorp had a net margin of 20.91% and a return on equity of 12.84%. Analysts anticipate that Ameris Bancorp will post $2.60 EPS for the current year.
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In other Ameris Bancorp news, Director Elizabeth A. Mccague purchased 1,060 shares of the company’s stock in a transaction on Monday, May 8th. The shares were purchased at an average cost of $47.00 per share, for a total transaction of $49,820.00. Following the completion of the transaction, the director now owns 2,180 shares in the company, valued at $102,460. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Dennis J. Zember, Jr. sold 15,000 shares of the business’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $47.38, for a total transaction of $710,700.00. Following the completion of the sale, the chief operating officer now owns 148,727 shares in the company, valued at $7,046,685.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,815 shares of company stock worth $2,262,593. 3.88% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. LS Investment Advisors LLC boosted its stake in shares of Ameris Bancorp by 126.5% in the first quarter. LS Investment Advisors LLC now owns 2,901 shares of the bank’s stock valued at $134,000 after buying an additional 1,620 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in shares of Ameris Bancorp during the first quarter valued at approximately $136,000. Victory Capital Management Inc. boosted its stake in shares of Ameris Bancorp by 1.6% in the first quarter. Victory Capital Management Inc. now owns 3,506 shares of the bank’s stock valued at $162,000 after buying an additional 55 shares during the period. First Interstate Bank boosted its stake in shares of Ameris Bancorp by 8.8% in the first quarter. First Interstate Bank now owns 3,845 shares of the bank’s stock valued at $177,000 after buying an additional 310 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in shares of Ameris Bancorp by 7.4% in the first quarter. State of Alaska Department of Revenue now owns 4,050 shares of the bank’s stock valued at $186,000 after buying an additional 280 shares during the period. Hedge funds and other institutional investors own 82.37% of the company’s stock.
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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