Piper Jaffray Companies Reaffirms “Neutral” Rating for Ameris Bancorp (ABCB)
Ameris Bancorp (NASDAQ:ABCB)‘s stock had its “neutral” rating reissued by stock analysts at Piper Jaffray Companies in a note issued to investors on Thursday, Marketbeat reports. They presently have a $47.50 target price on the bank’s stock. Piper Jaffray Companies’ price target would indicate a potential downside of 2.36% from the company’s current price.
A number of other equities analysts have also recently commented on the company. Stephens reaffirmed a “buy” rating and issued a $52.00 price target on shares of Ameris Bancorp in a research note on Thursday, September 28th. Zacks Investment Research raised Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, September 15th. BidaskClub cut Ameris Bancorp from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $51.00 price target 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, four have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $51.38.
Shares of Ameris Bancorp (NASDAQ:ABCB) traded up 0.62% during mid-day trading on Thursday, reaching $48.65. The company had a trading volume of 164,704 shares. The stock has a 50 day moving average price of $44.61 and a 200 day moving average price of $45.67. Ameris Bancorp has a 12-month low of $35.01 and a 12-month high of $51.28. The firm has a market capitalization of $1.81 billion, a PE ratio of 20.90 and a beta of 1.30.
Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings results on Friday, July 21st. The bank reported $0.63 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.02). The company had revenue of $91.35 million during the quarter, compared to analysts’ expectations of $92.71 million. Ameris Bancorp had a return on equity of 12.52% and a net margin of 22.66%. On average, equities analysts forecast that Ameris Bancorp will post $2.54 earnings per share for the current year.
In related news, Director Leo J. Hill purchased 1,000 shares of the firm’s stock in a transaction on Thursday, September 7th. The shares were acquired at an average cost of $42.75 per share, with a total value of $42,750.00. Following the purchase, the director now directly owns 16,629 shares of the company’s stock, valued at $710,889.75. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.63% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of ABCB. US Bancorp DE grew its position in shares of Ameris Bancorp by 45.4% in the 1st quarter. US Bancorp DE now owns 6,642 shares of the bank’s stock worth $306,000 after buying an additional 2,075 shares during the last quarter. Swiss National Bank grew its position in shares of Ameris Bancorp by 11.0% in the 1st quarter. Swiss National Bank now owns 60,464 shares of the bank’s stock worth $2,787,000 after buying an additional 6,000 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in shares of Ameris Bancorp by 241.1% in the 1st quarter. UBS Asset Management Americas Inc. now owns 18,909 shares of the bank’s stock worth $872,000 after buying an additional 13,365 shares during the last quarter. Texas Permanent School Fund grew its position in shares of Ameris Bancorp by 4.2% in the 1st quarter. Texas Permanent School Fund now owns 26,550 shares of the bank’s stock worth $1,224,000 after buying an additional 1,081 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its position in shares of Ameris Bancorp by 154.0% in the 1st quarter. Parametric Portfolio Associates LLC now owns 40,344 shares of the bank’s stock worth $1,860,000 after buying an additional 24,460 shares during the last quarter. Hedge funds and other 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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