BidaskClub upgraded shares of Ameris Bancorp (NASDAQ:ABCB) from a sell rating to a hold rating in a research note released on Wednesday.
ABCB has been the topic of a number of other research reports. Zacks Investment Research downgraded Ameris Bancorp from a hold rating to a sell rating in a report on Tuesday, January 8th. Stephens reiterated a buy rating and set a $58.00 price target on shares of Ameris Bancorp in a report on Monday, January 28th. TheStreet downgraded Ameris Bancorp from a b- rating to a c+ rating in a report on Monday, December 24th. Piper Jaffray Companies set a $50.00 price target on Ameris Bancorp and gave the company a hold rating in a report on Monday, November 26th. Finally, SunTrust Banks upgraded Ameris Bancorp from a hold rating to a buy rating and set a $48.00 price target on the stock in a report on Tuesday, January 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $54.67.
Shares of ABCB stock opened at $40.93 on Wednesday. Ameris Bancorp has a 1-year low of $29.97 and a 1-year high of $59.05. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.17. The firm has a market cap of $1.93 billion, a PE ratio of 12.11 and a beta of 1.50.
Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings results on Friday, January 25th. The bank reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. Ameris Bancorp had a return on equity of 11.46% and a net margin of 22.76%. The business had revenue of $131.10 million for the quarter, compared to the consensus estimate of $130.93 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. Ameris Bancorp’s revenue for the quarter was up 37.9% compared to the same quarter last year. On average, equities research analysts anticipate that Ameris Bancorp will post 4.12 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of ABCB. NWQ Investment Management Company LLC grew its stake in Ameris Bancorp by 50.3% in the third quarter. NWQ Investment Management Company LLC now owns 1,403,449 shares of the bank’s stock valued at $60,840,000 after purchasing an additional 469,897 shares in the last quarter. Vanguard Group Inc grew its stake in Ameris Bancorp by 10.6% in the third quarter. Vanguard Group Inc now owns 4,275,269 shares of the bank’s stock valued at $195,381,000 after purchasing an additional 411,255 shares in the last quarter. Vanguard Group Inc. grew its stake in Ameris Bancorp by 10.6% in the third quarter. Vanguard Group Inc. now owns 4,275,269 shares of the bank’s stock valued at $195,381,000 after purchasing an additional 411,255 shares in the last quarter. Jennison Associates LLC grew its stake in Ameris Bancorp by 76.0% in the fourth quarter. Jennison Associates LLC now owns 950,608 shares of the bank’s stock valued at $30,106,000 after purchasing an additional 410,379 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in Ameris Bancorp in the third quarter valued at about $16,104,000. Hedge funds and other institutional investors own 84.73% of the company’s stock.
About Ameris Bancorp
Ameris Bancorp operates as the holding company for Ameris Bank that provides banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, and South Carolina. The company operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, Small Business Administration Division, and Premium Finance Division.
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