Ameris Bancorp (NASDAQ:ABCB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.
According to Zacks, “ABC Bancorp is a bank holding company. “
Other research analysts have also issued reports about the stock. Sandler O’Neill set a $57.00 price objective on shares of Ameris Bancorp and gave the stock a “hold” rating in a report on Monday, January 29th. BidaskClub upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. ValuEngine upgraded shares of Ameris Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Keefe, Bruyette & Woods upgraded shares of Ameris Bancorp from a “market perform” rating to an “outperform” rating in a report on Monday, November 20th. Finally, SunTrust Banks raised their price target on shares of Ameris Bancorp from $10.00 to $65.00 and gave the company a “buy” rating in a report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $55.33.
Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings data on Friday, January 26th. The bank reported $0.63 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.63. The business had revenue of $89.90 million for the quarter, compared to analyst estimates of $96.28 million. Ameris Bancorp had a net margin of 18.44% and a return on equity of 11.73%. The company’s revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 EPS. equities analysts expect that Ameris Bancorp will post 3.49 earnings per share for the current year.
In other Ameris Bancorp news, insider James A. Lahaise sold 14,200 shares of the stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $46.58, for a total value of $661,436.00. Following the completion of the sale, the insider now owns 73,986 shares of the company’s stock, valued at $3,446,267.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edwin W. Hortman, Jr. sold 20,336 shares of the stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $56.41, for a total transaction of $1,147,153.76. Following the completion of the sale, the insider now directly owns 246,961 shares of the company’s stock, valued at approximately $13,931,070.01. The disclosure for this sale can be found here. Insiders sold 50,359 shares of company stock worth $2,662,182 in the last 90 days. 3.63% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the business. Bank of Montreal Can grew its position in Ameris Bancorp by 45.8% in the fourth quarter. Bank of Montreal Can now owns 3,188 shares of the bank’s stock valued at $153,000 after acquiring an additional 1,002 shares in the last quarter. Aperio Group LLC acquired a new stake in Ameris Bancorp in the third quarter valued at approximately $204,000. Elkfork Partners LLC acquired a new stake in Ameris Bancorp in the fourth quarter valued at approximately $246,000. SG Americas Securities LLC acquired a new stake in Ameris Bancorp in the third quarter valued at approximately $285,000. Finally, Flinton Capital Management LLC grew its position in Ameris Bancorp by 19.0% in the fourth quarter. Flinton Capital Management LLC now owns 6,188 shares of the bank’s stock valued at $298,000 after acquiring an additional 986 shares in the last quarter. 83.28% of the stock is owned by institutional investors.
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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