BidaskClub Lowers Ameris Bancorp (ABCB) to Strong Sell

BidaskClub lowered shares of Ameris Bancorp (NASDAQ:ABCB) from a sell rating to a strong sell rating in a research note released on Friday morning.

A number of other research firms also recently issued reports on ABCB. Piper Jaffray Companies set a $50.00 target price on shares of Ameris Bancorp and gave the company a hold rating in a research report on Monday, November 26th. TheStreet upgraded shares of Ameris Bancorp from a c+ rating to a b- rating in a research report on Tuesday, November 13th. Stephens reiterated a buy rating and set a $58.00 target price on shares of Ameris Bancorp in a research report on Monday, October 22nd. ValuEngine downgraded shares of Ameris Bancorp from a hold rating to a sell rating in a research report on Thursday, September 27th. Finally, Zacks Investment Research downgraded shares of Ameris Bancorp from a hold rating to a sell rating in a research report on Thursday, September 6th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $57.00.

Shares of NASDAQ ABCB opened at $37.44 on Friday. The company has a market capitalization of $1.78 billion, a PE ratio of 12.44 and a beta of 1.12. Ameris Bancorp has a 52-week low of $37.04 and a 52-week high of $59.05. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.99 and a current ratio of 1.01.

Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings results on Friday, October 19th. The bank reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.01. The firm had revenue of $129.21 million for the quarter, compared to the consensus estimate of $135.44 million. Ameris Bancorp had a net margin of 17.99% and a return on equity of 11.14%. On average, equities research analysts expect that Ameris Bancorp will post 3.29 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. California Public Employees Retirement System increased its stake in Ameris Bancorp by 69.0% during the 2nd quarter. California Public Employees Retirement System now owns 65,130 shares of the bank’s stock valued at $3,475,000 after purchasing an additional 26,595 shares in the last quarter. MetLife Investment Advisors LLC increased its stake in Ameris Bancorp by 8.8% during the 2nd quarter. MetLife Investment Advisors LLC now owns 18,334 shares of the bank’s stock valued at $978,000 after purchasing an additional 1,479 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in Ameris Bancorp by 4.0% during the 2nd quarter. Great West Life Assurance Co. Can now owns 51,479 shares of the bank’s stock valued at $2,746,000 after purchasing an additional 1,963 shares in the last quarter. Raymond James & Associates bought a new stake in Ameris Bancorp during the 2nd quarter valued at $298,000. Finally, Bank of New York Mellon Corp increased its stake in Ameris Bancorp by 1.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 804,157 shares of the bank’s stock valued at $42,901,000 after purchasing an additional 15,052 shares in the last quarter. Institutional investors own 84.43% of the company’s stock.

Ameris Bancorp Company Profile

Ameris Bancorp operates as the holding company for Ameris Bank that provides banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, and South Carolina. The company operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, Small Business Administration Division, and Premium Finance Division.

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Analyst Recommendations for Ameris Bancorp (NASDAQ:ABCB)

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