Ameris Bancorp (ABCB) Downgraded to “Sell” at BidaskClub

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Ameris Bancorp (NASDAQ:ABCB) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Friday.

ABCB has been the subject of a number of other reports. SunTrust Banks raised Ameris Bancorp from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Tuesday, January 29th. Zacks Investment Research lowered Ameris Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, February 22nd. TheStreet lowered Ameris Bancorp from a “b-” rating to a “c+” rating in a research report on Monday, December 24th. Piper Jaffray Companies raised Ameris Bancorp from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $49.50 to $48.00 in a research report on Tuesday, December 18th. Finally, ValuEngine lowered Ameris Bancorp from a “sell” rating to a “strong sell” rating in a research report on Friday, December 7th. Three equities research analysts have rated the stock with a sell rating and six have assigned a buy rating to the stock. Ameris Bancorp presently has an average rating of “Hold” and a consensus price target of $54.67.

Shares of Ameris Bancorp stock opened at $38.17 on Friday. Ameris Bancorp has a one year low of $29.97 and a one year high of $58.10. The stock has a market capitalization of $1.82 billion, a P/E ratio of 11.29 and a beta of 1.53. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.96 and a quick ratio of 0.95.

Ameris Bancorp (NASDAQ:ABCB) last issued its earnings results on Friday, January 25th. The bank reported $0.96 EPS 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 during the quarter, compared to analyst estimates of $130.93 million. During the same period in the previous year, the company posted $0.63 EPS. The firm’s revenue was up 37.9% compared to the same quarter last year. Analysts expect that Ameris Bancorp will post 4.12 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its holdings in Ameris Bancorp by 2.5% during the 4th quarter. BlackRock Inc. now owns 6,039,221 shares of the bank’s stock worth $191,263,000 after purchasing an additional 147,175 shares in the last quarter. Vanguard Group Inc. increased its holdings in Ameris Bancorp by 10.6% during the 3rd quarter. Vanguard Group Inc. now owns 4,275,269 shares of the bank’s stock worth $195,381,000 after purchasing an additional 411,255 shares in the last quarter. Vanguard Group Inc increased its holdings in Ameris Bancorp by 10.6% during the 3rd quarter. Vanguard Group Inc now owns 4,275,269 shares of the bank’s stock worth $195,381,000 after purchasing an additional 411,255 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Ameris Bancorp by 7.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,687,522 shares of the bank’s stock worth $53,444,000 after purchasing an additional 116,733 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Ameris Bancorp by 18.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,592,242 shares of the bank’s stock worth $72,766,000 after purchasing an additional 244,881 shares in the last quarter. 83.92% of the stock is owned by hedge funds and other institutional investors.

Ameris Bancorp Company Profile

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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Analyst Recommendations for Ameris Bancorp (NASDAQ:ABCB)

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