Piper Jaffray Companies Analysts Give Ameris Bancorp (ABCB) a $50.00 Price Target
Ameris Bancorp (NASDAQ:ABCB) received a $50.00 price objective from Piper Jaffray Companies in a research note issued to investors on Monday. The brokerage currently has a “hold” rating on the bank’s stock. Piper Jaffray Companies’ price target indicates a potential upside of 3.20% from the stock’s previous close.
Other research analysts have also recently issued reports about the company. BidaskClub raised Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $51.00 target price on shares of Ameris Bancorp in a research note on Monday, June 26th. Zacks Investment Research raised Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. Finally, Stephens reissued a “buy” rating and set a $54.00 target price on shares of Ameris Bancorp in a research note on Friday, July 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Ameris Bancorp currently has an average rating of “Hold” and an average price target of $52.00.
Ameris Bancorp (ABCB) traded up 0.94% during trading on Monday, hitting $48.45. The stock had a trading volume of 166,409 shares. The firm has a 50 day moving average of $46.58 and a 200-day moving average of $46.09. The company has a market cap of $1.80 billion, a P/E ratio of 20.81 and a beta of 1.29. Ameris Bancorp has a one year low of $35.15 and a one year high of $51.28.
Ameris Bancorp (NASDAQ:ABCB) last released its earnings results on Thursday, October 19th. The bank reported $0.63 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.02). Ameris Bancorp had a return on equity of 12.12% and a net margin of 21.57%. The company had revenue of $93.85 million for the quarter, compared to analyst estimates of $96.89 million. Equities analysts anticipate that Ameris Bancorp will post $2.49 earnings per share for the current fiscal year.
In related news, Director Leo J. Hill bought 1,000 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was purchased 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 approximately $710,889.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.63% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. boosted its position in shares of Ameris Bancorp by 8.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,188 shares of the bank’s stock worth $154,000 after acquiring an additional 248 shares in the last quarter. Riverhead Capital Management LLC boosted its position in shares of Ameris Bancorp by 119.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,297 shares of the bank’s stock worth $159,000 after acquiring an additional 1,797 shares in the last quarter. Victory Capital Management Inc. boosted 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 acquiring an additional 55 shares in the last quarter. Flinton Capital Management LLC boosted its position in shares of Ameris Bancorp by 101.6% during the 2nd quarter. Flinton Capital Management LLC now owns 4,250 shares of the bank’s stock worth $205,000 after acquiring an additional 2,142 shares in the last quarter. Finally, Amalgamated Bank acquired a new position in shares of Ameris Bancorp during the 1st quarter worth about $210,000. 82.66% of the stock is owned by institutional investors and hedge funds.
About Ameris Bancorp
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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