Ameris Bancorp (NASDAQ:ABCB) Downgraded by BidaskClub to “Sell”

Ameris Bancorp (NASDAQ:ABCB) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Wednesday, July 12th.

Several other research firms also recently weighed in on ABCB. Zacks Investment Research downgraded shares of Ameris Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, March 27th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $51.00 target price on shares of Ameris Bancorp in a research report on Wednesday, May 24th. Stephens reissued a “buy” rating and set a $52.00 target price on shares of Ameris Bancorp in a research report on Friday, April 21st. SunTrust Banks, Inc. raised shares of Ameris Bancorp from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Wednesday, April 26th. Finally, ValuEngine raised shares of Ameris Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $49.33.

Shares of Ameris Bancorp (ABCB) traded up 0.66% on Wednesday, reaching $45.65. 97,823 shares of the company were exchanged. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 19.61 and a beta of 1.27. The firm’s 50 day moving average price is $47.15 and its 200 day moving average price is $46.17. Ameris Bancorp has a 52 week low of $32.76 and a 52 week high of $51.28.

Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings data on Friday, July 21st. The bank reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by $0.02. Ameris Bancorp had a return on equity of 12.52% and a net margin of 22.66%. The firm had revenue of $91.35 million during the quarter, compared to analysts’ expectations of $92.71 million. Equities research analysts anticipate that Ameris Bancorp will post $2.55 EPS for the current year.

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In other Ameris Bancorp news, CAO Cindi H. Lewis sold 3,200 shares of Ameris Bancorp stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $46.00, for a total transaction of $147,200.00. Following the completion of the sale, the chief accounting officer now directly owns 70,578 shares in the company, valued at approximately $3,246,588. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Edwin W. Hortman, Jr. sold 27,459 shares of Ameris Bancorp stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $46.69, for a total transaction of $1,282,060.71. Following the sale, the chief executive officer now owns 207,725 shares of the company’s stock, valued at $9,698,680.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 1,100 shares of company stock valued at $48,548. Company insiders own 3.63% of the company’s stock.

Several institutional investors have recently bought and sold shares of ABCB. Fisher Asset Management LLC boosted its position in Ameris Bancorp by 71.9% in the first quarter. Fisher Asset Management LLC now owns 82,669 shares of the bank’s stock valued at $3,811,000 after buying an additional 34,578 shares in the last quarter. Mendon Capital Advisors Corp boosted its position in Ameris Bancorp by 28.8% in the first quarter. Mendon Capital Advisors Corp now owns 515,030 shares of the bank’s stock valued at $23,743,000 after buying an additional 115,030 shares in the last quarter. Next Century Growth Investors LLC purchased a new position in Ameris Bancorp during the first quarter valued at about $14,552,000. Bank of Montreal Can boosted its position in Ameris Bancorp by 22.1% in the first quarter. Bank of Montreal Can now owns 56,194 shares of the bank’s stock valued at $2,590,000 after buying an additional 10,174 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its position in Ameris Bancorp by 1.8% in 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 in the last quarter. Hedge funds and other institutional investors own 84.12% of the company’s stock.

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.

Analyst Recommendations for Ameris Bancorp (NASDAQ:ABCB)

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