Ameris Bancorp (NASDAQ:ABCB) Stock Rating Lowered by Zacks Investment Research

Ameris Bancorp (NASDAQ:ABCB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday, March 12th.

According to Zacks, “ABC Bancorp is a bank holding company. “

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Several other research firms also recently weighed in on ABCB. BidaskClub upgraded Ameris Bancorp from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 9th. Sandler O’Neill set a $57.00 target price on Ameris Bancorp and gave the stock a “hold” rating in a research report on Monday, January 29th. SunTrust Banks raised their price target on Ameris Bancorp from $10.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, January 29th. ValuEngine upgraded Ameris Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Keefe, Bruyette & Woods upgraded Ameris Bancorp from a “market perform” rating to an “outperform” rating in a research note on Monday, November 20th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $55.33.

Shares of ABCB stock traded down $1.90 on Monday, reaching $52.00. The company’s stock had a trading volume of 210,166 shares, compared to its average volume of 231,186. Ameris Bancorp has a 1 year low of $41.05 and a 1 year high of $59.05. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 0.98. The firm has a market cap of $2,054.15, a PE ratio of 20.97 and a beta of 1.21.

Ameris Bancorp (NASDAQ:ABCB) last posted its earnings results on Friday, January 26th. The bank reported $0.63 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.63. The firm had revenue of $89.90 million during 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%. Ameris Bancorp’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period last year, the firm posted $0.63 earnings per share. equities analysts predict that Ameris Bancorp will post 3.49 EPS for the current year.

In related news, insider Edwin W. Hortman, Jr. sold 10,000 shares of Ameris Bancorp stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $57.49, for a total transaction of $574,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edwin W. Hortman, Jr. sold 20,336 shares of the business’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $56.41, for a total value of $1,147,153.76. Following the completion of the transaction, the insider now directly owns 246,961 shares of the company’s stock, valued at $13,931,070.01. The disclosure for this sale can be found here. Insiders have sold 46,159 shares of company stock valued at $2,575,646 in the last ninety days. Corporate insiders own 3.63% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Bank of Montreal Can raised its stake 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 during the period. Aperio Group LLC acquired a new position in shares of Ameris Bancorp during the 3rd quarter worth approximately $204,000. Elkfork Partners LLC acquired a new position in shares of Ameris Bancorp during the 4th quarter worth approximately $246,000. SG Americas Securities LLC acquired a new position in shares of Ameris Bancorp during the 3rd quarter worth approximately $285,000. Finally, Flinton Capital Management LLC raised its stake in shares of Ameris Bancorp by 19.0% during the 4th quarter. Flinton Capital Management LLC now owns 6,188 shares of the bank’s stock worth $298,000 after buying an additional 986 shares during the period. 83.25% of the stock is owned by institutional investors.

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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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