Ameris Bancorp (ABCB) Receives $56.00 Average Target Price from Analysts

Shares of Ameris Bancorp (NASDAQ:ABCB) have earned a consensus recommendation of “Buy” from the eight analysts that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $56.00.

Several analysts have recently commented on the company. BidaskClub upgraded Ameris Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, January 31st. Sandler O’Neill set a $57.00 price objective on Ameris Bancorp and gave the company a “hold” rating in a report on Monday, January 29th. SunTrust Banks increased their price objective on Ameris Bancorp from $10.00 to $65.00 and gave the company a “buy” rating in a report on Monday, January 29th. Zacks Investment Research upgraded Ameris Bancorp from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a report on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods upgraded Ameris Bancorp from a “market perform” rating to an “outperform” rating in a report on Monday, November 20th.

In related news, President Lawton E. Bassett III sold 823 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $53.15, for a total value of $43,742.45. Following the transaction, the president now directly owns 19,408 shares of the company’s stock, valued at approximately $1,031,535.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider James A. Lahaise sold 14,200 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $46.58, for a total value of $661,436.00. Following the completion of the transaction, the insider now directly owns 73,986 shares in the company, valued at $3,446,267.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,023 shares of company stock valued at $979,228. Company insiders own 3.63% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. increased its position in shares of Ameris Bancorp by 8.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,188 shares of the bank’s stock valued at $154,000 after acquiring an additional 248 shares during the period. California Public Employees Retirement System increased its position in shares of Ameris Bancorp by 0.8% in the 2nd quarter. California Public Employees Retirement System now owns 47,600 shares of the bank’s stock valued at $2,294,000 after acquiring an additional 400 shares during the period. Nationwide Fund Advisors increased its position in shares of Ameris Bancorp by 2.2% in the 2nd quarter. Nationwide Fund Advisors now owns 20,617 shares of the bank’s stock valued at $994,000 after acquiring an additional 438 shares during the period. UBS Asset Management Americas Inc. increased its position in shares of Ameris Bancorp by 3.4% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 19,559 shares of the bank’s stock valued at $943,000 after acquiring an additional 650 shares during the period. Finally, Flinton Capital Management LLC increased its position in shares of Ameris Bancorp by 19.0% in the 4th quarter. Flinton Capital Management LLC now owns 6,188 shares of the bank’s stock valued at $298,000 after acquiring an additional 986 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Ameris Bancorp (NASDAQ:ABCB) traded up $0.55 during trading on Friday, reaching $54.65. The company’s stock had a trading volume of 211,100 shares, compared to its average volume of 212,373. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 0.98. The stock has a market capitalization of $2,034.68, a price-to-earnings ratio of 27.46 and a beta of 1.24. Ameris Bancorp has a one year low of $41.05 and a one year high of $56.85.

Ameris Bancorp (NASDAQ:ABCB) last posted its earnings results on Friday, January 26th. The bank reported $0.63 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.63. The company had revenue of $89.90 million during the quarter, compared to analyst estimates of $96.28 million. Ameris Bancorp had a return on equity of 11.73% and a net margin of 18.44%. Ameris Bancorp’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.63 earnings per share. research analysts anticipate that Ameris Bancorp will post 3.49 earnings per share for the current year.

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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.

Analyst Recommendations for Ameris Bancorp (NASDAQ:ABCB)

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