Ameris Bancorp (NASDAQ:ABCB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday.

According to Zacks, “ABC Bancorp is a bank holding company. “

Several other research analysts have also weighed in on ABCB. BidaskClub lowered shares of Ameris Bancorp from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $48.00 price objective on shares of Ameris Bancorp in a report on Friday, July 21st. ValuEngine upgraded shares of Ameris Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Stephens reiterated a “buy” rating and set a $54.00 target price on shares of Ameris Bancorp in a research note on Friday, July 21st. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $51.00 target price on shares of Ameris Bancorp in a research note on Monday, June 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $49.33.

Shares of Ameris Bancorp (NASDAQ:ABCB) traded up 0.35% during mid-day trading on Friday, reaching $43.35. 442,541 shares of the company were exchanged. The firm has a market capitalization of $1.61 billion, a PE ratio of 18.62 and a beta of 1.29. Ameris Bancorp has a 12 month low of $33.80 and a 12 month high of $51.28. The company’s 50 day moving average price is $44.26 and its 200 day moving average price is $45.76.

Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings data on Friday, July 21st. The bank reported $0.63 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.02). The company had revenue of $91.35 million during the quarter, compared to analyst estimates of $92.71 million. Ameris Bancorp had a net margin of 22.66% and a return on equity of 12.52%. Equities analysts anticipate that Ameris Bancorp will post $2.55 earnings per share for the current year.

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In other Ameris Bancorp news, Director Leo J. Hill acquired 1,000 shares of the company’s stock in a transaction dated Thursday, September 7th. The stock was bought at an average price of $42.75 per share, for a total transaction of $42,750.00. Following the purchase, the director now owns 16,629 shares in the company, valued at approximately $710,889.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.63% of the company’s stock.

Several hedge funds have recently made changes to their positions in ABCB. Alps Advisors Inc. increased its position in shares of Ameris Bancorp by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 10,298 shares of the bank’s stock worth $496,000 after purchasing an additional 27 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Ameris Bancorp by 1.6% during the 1st quarter. Victory Capital Management Inc. now owns 3,506 shares of the bank’s stock worth $162,000 after purchasing an additional 55 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of Ameris Bancorp by 0.3% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 38,570 shares of the bank’s stock worth $1,348,000 after purchasing an additional 100 shares in the last quarter. PineBridge Investments L.P. increased its position in shares of Ameris Bancorp by 3.4% during the 2nd quarter. PineBridge Investments L.P. now owns 3,514 shares of the bank’s stock worth $104,000 after purchasing an additional 116 shares in the last quarter. Finally, Jennison Associates LLC increased its position in shares of Ameris Bancorp by 0.5% during the 2nd quarter. Jennison Associates LLC now owns 27,731 shares of the bank’s stock worth $1,337,000 after purchasing an additional 136 shares in the last quarter. Institutional investors own 82.41% 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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Analyst Recommendations for Ameris Bancorp (NASDAQ:ABCB)

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