Ameris Bancorp (NASDAQ:ABCB)‘s stock had its “neutral” rating reaffirmed by equities researchers at Piper Jaffray Companies in a research report issued on Thursday, October 5th, Marketbeat reports. They presently have a $47.50 target price on the bank’s stock. Piper Jaffray Companies’ price target indicates a potential downside of 4.23% from the company’s previous close.
Several other research analysts also recently commented on ABCB. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $51.00 price target on shares of Ameris Bancorp in a report on Monday, June 26th. BidaskClub raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Stephens reaffirmed a “buy” rating and set a $54.00 price objective on shares of Ameris Bancorp in a report on Friday, July 21st. Finally, Zacks Investment Research downgraded shares of Ameris Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $51.50.
Shares of Ameris Bancorp (NASDAQ:ABCB) opened at 49.65 on Thursday. Ameris Bancorp has a 1-year low of $35.15 and a 1-year high of $51.28. The firm has a 50-day moving average of $45.83 and a 200 day moving average of $45.94. The company has a market capitalization of $1.85 billion, a P/E ratio of 21.33 and a beta of 1.29.
Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings results on Friday, July 21st. The bank reported $0.63 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.02). Ameris Bancorp had a net margin of 22.66% and a return on equity of 12.52%. The firm had revenue of $91.35 million during the quarter, compared to the consensus estimate of $92.71 million. On average, analysts anticipate that Ameris Bancorp will post $2.53 EPS for the current year.
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In related news, Director Leo J. Hill acquired 1,000 shares of the company’s stock in a transaction dated Thursday, September 7th. The stock was bought at an average cost of $42.75 per share, with a total value of $42,750.00. Following the acquisition, the director now owns 16,629 shares of the company’s stock, valued at approximately $710,889.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.63% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Alps Advisors Inc. lifted its stake 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 last quarter. Victory Capital Management Inc. increased its position in shares of Ameris Bancorp by 1.6% in the first quarter. Victory Capital Management Inc. now owns 3,506 shares of the bank’s stock valued at $162,000 after acquiring an additional 55 shares during the period. Jennison Associates LLC increased its position in shares of Ameris Bancorp by 0.5% during the second quarter. Jennison Associates LLC now owns 27,731 shares of the bank’s stock valued at $1,337,000 after buying an additional 136 shares during the period. Municipal Employees Retirement System of Michigan increased its position in shares of Ameris Bancorp by 1.8% during the first quarter. Municipal Employees Retirement System of Michigan now owns 7,980 shares of the bank’s stock valued at $368,000 after buying an additional 140 shares during the period. Finally, Amalgamated Bank increased its position in shares of Ameris Bancorp by 4.0% during the second quarter. Amalgamated Bank now owns 4,737 shares of the bank’s stock valued at $228,000 after buying an additional 183 shares during the period. 82.40% of the stock is owned by institutional investors and hedge funds.
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.
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