Ameris Bancorp (ABCB) Given Average Recommendation of “Buy” by Brokerages

Shares of Ameris Bancorp (NASDAQ:ABCB) have been assigned an average rating of “Buy” from the seven ratings firms that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $53.25.

A number of research analysts have recently issued reports on ABCB shares. Keefe, Bruyette & Woods restated a “hold” rating and issued a $52.00 price target on shares of Ameris Bancorp in a research report on Thursday, October 26th. Stephens restated a “buy” rating and issued a $52.00 price target on shares of Ameris Bancorp in a research report on Thursday, September 28th. Zacks Investment Research upgraded shares of Ameris Bancorp from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research report on Tuesday, January 2nd. BidaskClub downgraded shares of Ameris Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Finally, ValuEngine downgraded shares of Ameris Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th.

In related news, insider James A. Lahaise sold 14,200 shares of Ameris Bancorp stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $46.58, for a total value of $661,436.00. Following the sale, the insider now directly owns 73,986 shares in the company, valued at approximately $3,446,267.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 3.63% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. raised its position in shares of Ameris Bancorp by 3.5% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 185,218 shares of the bank’s stock worth $8,928,000 after buying an additional 6,235 shares in the last quarter. Bank of Montreal Can raised its position in shares of Ameris Bancorp by 45.8% during the 4th quarter. Bank of Montreal Can now owns 3,188 shares of the bank’s stock worth $153,000 after buying an additional 1,002 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Ameris Bancorp by 6.7% during the 4th quarter. Louisiana State Employees Retirement System now owns 16,000 shares of the bank’s stock worth $771,000 after buying an additional 1,000 shares in the last quarter. GSA Capital Partners LLP raised its position in shares of Ameris Bancorp by 19.4% during the 3rd quarter. GSA Capital Partners LLP now owns 43,265 shares of the bank’s stock worth $2,077,000 after buying an additional 7,040 shares in the last quarter. Finally, Maltese Capital Management LLC raised its position in shares of Ameris Bancorp by 4.0% during the 3rd quarter. Maltese Capital Management LLC now owns 581,101 shares of the bank’s stock worth $27,893,000 after buying an additional 22,201 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Ameris Bancorp (NASDAQ ABCB) opened at $53.80 on Tuesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.07 and a quick ratio of 1.04. Ameris Bancorp has a 52-week low of $41.05 and a 52-week high of $53.95. The stock has a market cap of $2,004.89, a PE ratio of 23.70 and a beta of 1.20.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Friday, December 29th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.40 annualized dividend and a yield of 0.74%. Ameris Bancorp’s dividend payout ratio is presently 17.62%.

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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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