Ameris Bancorp (NASDAQ:ABCB) had its price target upped by analysts at SunTrust Banks from $10.00 to $65.00 in a research report issued to clients and investors on Monday, The Fly reports. The brokerage currently has a “buy” rating on the bank’s stock. SunTrust Banks’ price target would suggest a potential upside of 18.51% from the company’s previous close.
Several other equities analysts also recently weighed in on ABCB. Piper Jaffray Companies reiterated a “neutral” rating and issued a $47.50 price target on shares of Ameris Bancorp in a report on Thursday, October 5th. Zacks Investment Research upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $52.00 price objective on shares of Ameris Bancorp in a research report on Thursday, October 26th. ValuEngine lowered Ameris Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Finally, BidaskClub lowered Ameris Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Ameris Bancorp presently has an average rating of “Buy” and an average target price of $55.00.
Ameris Bancorp (NASDAQ ABCB) opened at $54.85 on Monday. Ameris Bancorp has a fifty-two week low of $41.05 and a fifty-two week high of $56.85. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.98 and a quick ratio of 0.95. The firm has a market cap of $2,042.12, a P/E ratio of 27.56 and a beta of 1.20.
In other Ameris Bancorp news, insider James A. Lahaise sold 14,200 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $46.58, for a total value of $661,436.00. Following the sale, the insider now owns 73,986 shares in the company, valued at approximately $3,446,267.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 3.63% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. PineBridge Investments L.P. lifted its position in shares of Ameris Bancorp by 3.4% during the 2nd quarter. PineBridge Investments L.P. now owns 3,514 shares of the bank’s stock valued at $104,000 after buying an additional 116 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of Ameris Bancorp during the 3rd quarter valued at approximately $124,000. LS Investment Advisors LLC lifted its position in shares of Ameris Bancorp by 126.5% during the 1st quarter. LS Investment Advisors LLC now owns 2,901 shares of the bank’s stock valued at $134,000 after buying an additional 1,620 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of Ameris Bancorp during the 1st quarter valued at approximately $136,000. Finally, Legal & General Group Plc lifted its position in shares of Ameris Bancorp by 17.6% during the 1st quarter. Legal & General Group Plc now owns 4,734 shares of the bank’s stock valued at $137,000 after buying an additional 709 shares in the last quarter. Institutional investors and hedge funds own 81.78% 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.
Receive News & Ratings for Ameris Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameris Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.