Ameris Bancorp (NASDAQ:ABCB) – Analysts at FIG Partners reduced their FY2017 earnings per share (EPS) estimates for Ameris Bancorp in a research report issued to clients and investors on Tuesday, Zacks Investment Research reports. FIG Partners analyst C. Marinac now forecasts that the bank will post earnings of $2.51 per share for the year, down from their previous forecast of $2.53.
Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings data on Thursday, October 19th. The bank reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.02). The firm had revenue of $93.85 million for the quarter, compared to analyst estimates of $96.89 million. Ameris Bancorp had a return on equity of 12.12% and a net margin of 21.57%.
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Several other equities analysts have also recently issued reports on the company. Zacks Investment Research raised Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Friday, September 15th. Piper Jaffray Companies set a $48.00 price objective on Ameris Bancorp and gave the stock a “hold” rating in a report on Friday, October 6th. Stephens reaffirmed a “buy” rating and set a $54.00 price objective on shares of Ameris Bancorp in a report on Friday, July 21st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $52.00 price objective on shares of Ameris Bancorp in a report on Thursday, October 26th. Finally, BidaskClub cut Ameris Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. Ameris Bancorp has an average rating of “Hold” and a consensus price target of $52.25.
Shares of Ameris Bancorp (ABCB) traded up $0.05 during mid-day trading on Thursday, reaching $45.80. The company had a trading volume of 110,300 shares, compared to its average volume of 190,684. The firm has a market capitalization of $1,703.32, a PE ratio of 18.45 and a beta of 1.19. Ameris Bancorp has a 52-week low of $40.05 and a 52-week high of $51.28. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.04 and a current ratio of 1.07.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alps Advisors Inc. raised its holdings in shares of 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 acquiring an additional 27 shares during the last quarter. Victory Capital Management Inc. raised its holdings 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 worth $162,000 after acquiring an additional 55 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of 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 acquiring an additional 136 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in shares of 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 worth $368,000 after acquiring an additional 140 shares during the last quarter. Finally, Amalgamated Bank raised its holdings in shares of 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 acquiring an additional 183 shares during the last quarter. 82.75% of the stock is owned by institutional investors.
In related news, Director Leo J. Hill purchased 1,000 shares of the business’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 completion of the acquisition, the director now directly owns 16,629 shares in the company, valued at approximately $710,889.75. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.63% 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.
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