Ameris Bancorp (ABCB) Given Consensus Recommendation of “Hold” by Analysts
Ameris Bancorp (NASDAQ:ABCB) has earned a consensus recommendation of “Hold” from the eight research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $52.25.
Several brokerages have commented on ABCB. Zacks Investment Research upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $52.00 target price on shares of Ameris Bancorp in a research note on Thursday, October 26th. Piper Jaffray Companies set a $48.00 target price on Ameris Bancorp and gave the company a “hold” rating in a research note on Friday, October 6th. BidaskClub downgraded Ameris Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, 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.
In other news, Director Leo J. Hill purchased 1,000 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were purchased at an average cost of $42.75 per share, for a total transaction 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 hyperlink. Company insiders own 3.63% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Alps Advisors Inc. lifted its position in Ameris Bancorp by 0.3% during the second quarter. Alps Advisors Inc. now owns 10,298 shares of the bank’s stock valued at $496,000 after purchasing an additional 27 shares in the last quarter. Jennison Associates LLC lifted its position in Ameris Bancorp by 0.5% during the second quarter. Jennison Associates LLC now owns 27,731 shares of the bank’s stock valued at $1,337,000 after purchasing an additional 136 shares in the last quarter. Amalgamated Bank lifted its position in Ameris Bancorp by 4.0% during the second quarter. Amalgamated Bank now owns 4,737 shares of the bank’s stock valued at $228,000 after purchasing an additional 183 shares in the last quarter. New York State Teachers Retirement System lifted its position in Ameris Bancorp by 1.3% during the first quarter. New York State Teachers Retirement System now owns 15,098 shares of the bank’s stock valued at $696,000 after purchasing an additional 200 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in Ameris Bancorp by 1.3% during the second quarter. Louisiana State Employees Retirement System now owns 15,100 shares of the bank’s stock valued at $728,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 82.75% of the company’s stock.
Shares of Ameris Bancorp (NASDAQ ABCB) opened at $46.50 on Thursday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.04 and a current ratio of 1.07. Ameris Bancorp has a 52 week low of $35.15 and a 52 week high of $51.28. The company has a market capitalization of $1,736.64, a price-to-earnings ratio of 18.81 and a beta of 1.19.
Ameris Bancorp (NASDAQ:ABCB) last issued its earnings results on Thursday, October 19th. The bank reported $0.63 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.02). Ameris Bancorp had a net margin of 21.57% and a return on equity of 12.12%. The business had revenue of $93.85 million for the quarter, compared to analysts’ expectations of $96.89 million. equities research analysts anticipate that Ameris Bancorp will post 2.49 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.86%. Ameris Bancorp’s dividend payout ratio (DPR) is currently 17.62%.
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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