Shares of Ameris Bancorp (NASDAQ:ABCB) have received an average recommendation of “Hold” from the eight brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $52.33.
A number of brokerages have recently commented on ABCB. Zacks Investment Research raised Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Keefe, Bruyette & Woods raised Ameris Bancorp from a “market perform” rating to an “outperform” rating in a research report on Monday, November 20th. Piper Jaffray Companies set a $50.00 price objective on Ameris Bancorp and gave the company a “hold” rating in a research report on Monday, October 23rd. ValuEngine cut Ameris Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Finally, Stephens reaffirmed a “buy” rating and issued a $52.00 price objective on shares of Ameris Bancorp in a research report on Thursday, September 28th.
Shares of Ameris Bancorp (NASDAQ ABCB) traded down $0.80 on Monday, hitting $47.60. The stock had a trading volume of 188,640 shares, compared to its average volume of 194,446. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.04 and a current ratio of 1.07. Ameris Bancorp has a 12-month low of $41.05 and a 12-month high of $51.30. The company has a market cap of $1,835.49, a PE ratio of 19.88 and a beta of 1.19.
Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings results on Thursday, October 19th. The bank reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). Ameris Bancorp had a return on equity of 12.12% and a net margin of 21.57%. The company had revenue of $93.85 million during the quarter, compared to the consensus estimate of $96.89 million. sell-side analysts forecast that Ameris Bancorp will post 2.48 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in ABCB. Oak Ridge Investments LLC lifted its position in Ameris Bancorp by 228.9% in the 3rd quarter. Oak Ridge Investments LLC now owns 542,628 shares of the bank’s stock valued at $26,046,000 after acquiring an additional 377,628 shares in the last quarter. Marshall Wace North America L.P. bought a new position in Ameris Bancorp in the 2nd quarter valued at approximately $8,570,000. JPMorgan Chase & Co. lifted its holdings in shares of Ameris Bancorp by 169.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 139,584 shares of the bank’s stock valued at $6,687,000 after buying an additional 87,876 shares during the period. State Street Corp lifted its holdings in shares of Ameris Bancorp by 7.3% during the 2nd quarter. State Street Corp now owns 1,258,947 shares of the bank’s stock valued at $60,687,000 after buying an additional 85,137 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Ameris Bancorp by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 2,588,877 shares of the bank’s stock valued at $124,784,000 after buying an additional 65,815 shares during the period. 82.01% of the stock is currently owned by institutional investors and hedge funds.
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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.
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