Ameris Bancorp (NASDAQ:ABCB) has been given a consensus rating of “Hold” by the ten research firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $53.75.
A number of research analysts have recently issued reports on ABCB shares. Zacks Investment Research upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th. SunTrust Banks raised Ameris Bancorp from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Tuesday, January 29th. BidaskClub downgraded Ameris Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, March 15th. Finally, Stephens reissued a “buy” rating and issued a $58.00 price objective on shares of Ameris Bancorp in a research note on Monday, January 28th.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. RMB Capital Management LLC raised its stake in Ameris Bancorp by 73.8% in the 1st quarter. RMB Capital Management LLC now owns 61,954 shares of the bank’s stock valued at $2,128,000 after purchasing an additional 26,312 shares during the last quarter. Algebris UK Ltd acquired a new stake in shares of Ameris Bancorp in the 1st quarter worth $3,626,000. Schonfeld Strategic Advisors LLC increased its stake in shares of Ameris Bancorp by 117.7% in the 1st quarter. Schonfeld Strategic Advisors LLC now owns 17,200 shares of the bank’s stock worth $591,000 after acquiring an additional 9,300 shares during the last quarter. SEI Investments Co acquired a new stake in shares of Ameris Bancorp in the 1st quarter worth $292,000. Finally, Cornercap Investment Counsel Inc. increased its stake in shares of Ameris Bancorp by 6.2% in the 1st quarter. Cornercap Investment Counsel Inc. now owns 27,640 shares of the bank’s stock worth $949,000 after acquiring an additional 1,620 shares during the last quarter. 85.02% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:ABCB opened at $36.18 on Monday. Ameris Bancorp has a 1 year low of $29.97 and a 1 year high of $58.10. The company has a market cap of $1.71 billion, a PE ratio of 10.70 and a beta of 1.50. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.95 and a current ratio of 0.96.
Ameris Bancorp (NASDAQ:ABCB) last announced its earnings results on Tuesday, April 23rd. The bank reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Ameris Bancorp had a net margin of 23.09% and a return on equity of 11.24%. The business had revenue of $130.20 million for the quarter, compared to analysts’ expectations of $130.90 million. During the same quarter last year, the business earned $0.73 EPS. The company’s quarterly revenue was up 36.6% on a year-over-year basis. Sell-side analysts expect that Ameris Bancorp will post 4.07 EPS for the current fiscal year.
About Ameris Bancorp
Ameris Bancorp operates as the bank 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, SBA Division, and Premium Finance Division.
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