Ameris Bancorp (ABCB) Upgraded to Hold by Zacks Investment Research
Ameris Bancorp (NASDAQ:ABCB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “ABC Bancorp is a bank holding company. “
ABCB has been the topic of several other reports. Piper Jaffray Companies set a $48.00 price target on shares of Ameris Bancorp and gave the company a “hold” rating in a report on Friday, October 6th. Stephens reaffirmed a “buy” rating and issued a $54.00 price target on shares of Ameris Bancorp in a report on Friday, July 21st. BidaskClub lowered shares of Ameris Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $51.00 price target on shares of Ameris Bancorp in a report 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. Ameris Bancorp presently has an average rating of “Hold” and a consensus target price of $51.50.
Ameris Bancorp (ABCB) traded down 1.233% on Thursday, reaching $50.075. The company’s stock had a trading volume of 99,957 shares. The firm has a 50-day moving average of $45.48 and a 200-day moving average of $45.86. Ameris Bancorp has a one year low of $35.01 and a one year high of $51.28. The company has a market capitalization of $1.86 billion, a PE ratio of 21.510 and a beta of 1.30.
Ameris Bancorp (NASDAQ:ABCB) last released its earnings results on Friday, July 21st. The bank reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.02). Ameris Bancorp had a net margin of 22.66% and a return on equity of 12.52%. The firm had revenue of $91.35 million during the quarter, compared to analyst estimates of $92.71 million. Analysts predict that Ameris Bancorp will post $2.53 EPS for the current year.
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In other news, Director Leo J. Hill bought 1,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $710,889.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.63% of the company’s stock.
Several hedge funds have recently bought and sold shares of ABCB. BlackRock Inc. boosted its stake in shares of Ameris Bancorp by 83,097.4% during the 1st quarter. BlackRock Inc. now owns 4,668,206 shares of the bank’s stock worth $215,205,000 after acquiring an additional 4,662,595 shares in the last quarter. Vanguard Group Inc. lifted its stake in Ameris Bancorp by 47.6% in the 1st quarter. Vanguard Group Inc. now owns 2,523,062 shares of the bank’s stock valued at $116,312,000 after buying an additional 813,184 shares in the last quarter. State Street Corp lifted its stake in Ameris Bancorp by 20.1% in the 1st quarter. State Street Corp now owns 1,173,810 shares of the bank’s stock valued at $54,115,000 after buying an additional 196,240 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in Ameris Bancorp in the 2nd quarter valued at about $8,570,000. Finally, Oak Ridge Investments LLC purchased a new position in Ameris Bancorp in the 2nd quarter valued at about $7,953,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.
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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