Ameris Bancorp (NASDAQ:ABCB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “ABC Bancorp is a bank holding company. “
Other institutional investors recently modified their holdings of the company. Legal & General Group Plc boosted its position in shares of Ameris Bancorp by 17.6% in the first quarter. Legal & General Group Plc now owns 4,734 shares of the company’s stock worth $137,000 after buying an additional 709 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Ameris Bancorp by 123.5% in the second quarter. BNP Paribas Arbitrage SA now owns 8,941 shares of the company’s stock worth $266,000 after buying an additional 4,940 shares in the last quarter. Barclays PLC bought a new position in shares of Ameris Bancorp during the first quarter worth $296,000. New York State Teachers Retirement System boosted its position in shares of Ameris Bancorp by 3.5% in the second quarter. New York State Teachers Retirement System now owns 11,900 shares of the company’s stock worth $353,000 after buying an additional 400 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Ameris Bancorp by 11.8% in the first quarter. Arizona State Retirement System now owns 14,200 shares of the company’s stock worth $420,000 after buying an additional 1,500 shares in the last quarter.
Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings data on Friday, July 22nd. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.04. Equities research analysts predict that Ameris Bancorp will post $2.12 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 11th. Shareholders of record on Thursday, June 30th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Tuesday, June 28th.
ABCB has been the topic of a number of other reports. Piper Jaffray Cos. cut shares of Ameris Bancorp from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $32.00 to $31.00 in a research note on Tuesday, April 26th. They noted that the move was a valuation call. Keefe, Bruyette & Woods lifted their price objective on shares of Ameris Bancorp from $31.00 to $35.00 and gave the company a “market perform” rating in a research note on Monday. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $32.92.
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.
