Ameris Bancorp (ABCB) Rating Lowered to Hold at ValuEngine

ValuEngine downgraded shares of Ameris Bancorp (NASDAQ:ABCB) from a buy rating to a hold rating in a report released on Thursday, November 9th.

ABCB has been the subject of several other reports. Zacks Investment Research raised Ameris Bancorp from a sell rating to a hold rating in a research report on Thursday, October 12th. Piper Jaffray Companies reaffirmed a hold rating and issued a $48.00 target price on shares of Ameris Bancorp in a research report on Friday, July 21st. BidaskClub cut Ameris Bancorp from a sell rating to a strong sell rating in a research report on Thursday, July 27th. Stephens reaffirmed a buy rating and issued a $54.00 target price on shares of Ameris Bancorp in a research report on Friday, July 21st. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $52.00 target price on shares of Ameris Bancorp in a research report on Thursday, October 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $52.25.

Ameris Bancorp (NASDAQ:ABCB) opened at $49.85 on Thursday. Ameris Bancorp has a twelve month low of $41.05 and a twelve month high of $51.28. The company has a quick ratio of 1.04, a current ratio of 1.07 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $1,807.57, a P/E ratio of 19.58 and a beta of 1.19.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings results on Thursday, October 19th. The bank reported $0.63 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.02). Ameris Bancorp had a net margin of 21.57% and a return on equity of 12.12%. The company had revenue of $93.85 million for the quarter, compared to analyst estimates of $96.89 million. analysts expect that Ameris Bancorp will post 2.48 EPS for the current fiscal year.

In other Ameris Bancorp news, Director Leo J. Hill bought 1,000 shares of the stock in a transaction dated Thursday, September 7th. The stock was bought at an average cost of $42.75 per share, for a total transaction of $42,750.00. Following the completion of the purchase, the director now owns 16,629 shares in the company, valued at approximately $710,889.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.63% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Alps Advisors Inc. increased its position in Ameris Bancorp by 0.3% in the second quarter. Alps Advisors Inc. now owns 10,298 shares of the bank’s stock worth $496,000 after purchasing an additional 27 shares during the period. Jennison Associates LLC increased its position in Ameris Bancorp by 0.5% in the second quarter. Jennison Associates LLC now owns 27,731 shares of the bank’s stock worth $1,337,000 after purchasing an additional 136 shares during the period. Amalgamated Bank increased its position in Ameris Bancorp by 4.0% in the second quarter. Amalgamated Bank now owns 4,737 shares of the bank’s stock worth $228,000 after purchasing an additional 183 shares during the period. New York State Teachers Retirement System increased its position in Ameris Bancorp by 1.3% in the first quarter. New York State Teachers Retirement System now owns 15,098 shares of the bank’s stock worth $696,000 after purchasing an additional 200 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in Ameris Bancorp by 1.3% in the second quarter. Louisiana State Employees Retirement System now owns 15,100 shares of the bank’s stock worth $728,000 after purchasing an additional 200 shares during the period. Institutional investors own 81.99% of the company’s stock.

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About Ameris Bancorp

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Ameris Bancorp (NASDAQ:ABCB)

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