Ameris Bancorp (ABCB) Stock Rating Lowered by BidaskClub

Ameris Bancorp (NASDAQ:ABCB) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

Several other brokerages have also recently issued reports on ABCB. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $52.00 target price on shares of Ameris Bancorp in a report on Thursday, October 26th. Stephens reaffirmed a “buy” rating and issued a $52.00 target price on shares of Ameris Bancorp in a report on Thursday, September 28th. Zacks Investment Research raised Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Friday, September 15th. ValuEngine cut Ameris Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Finally, Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $47.50 target price on shares of Ameris Bancorp in a report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $52.25.

Shares of Ameris Bancorp (NASDAQ:ABCB) opened at $47.20 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $1,749.86, a PE ratio of 18.95 and a beta of 1.19. Ameris Bancorp has a twelve month low of $41.05 and a twelve month high of $51.30.

Ameris Bancorp (NASDAQ:ABCB) last issued its earnings results on Thursday, October 19th. The bank reported $0.63 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.02). Ameris Bancorp had a return on equity of 12.12% and a net margin of 21.57%. The firm had revenue of $93.85 million during the quarter, compared to the consensus estimate of $96.89 million. equities research analysts predict that Ameris Bancorp will post 2.48 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABCB. Municipal Employees Retirement System of Michigan grew its position in Ameris Bancorp by 9.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 8,770 shares of the bank’s stock worth $423,000 after acquiring an additional 790 shares in the last quarter. Great West Life Assurance Co. Can grew its position in Ameris Bancorp by 5.0% in the second quarter. Great West Life Assurance Co. Can now owns 53,471 shares of the bank’s stock worth $2,574,000 after acquiring an additional 2,550 shares in the last quarter. Texas Permanent School Fund grew its position in Ameris Bancorp by 2.1% in the second quarter. Texas Permanent School Fund now owns 27,110 shares of the bank’s stock worth $1,307,000 after acquiring an additional 560 shares in the last quarter. Sei Investments Co. grew its position in Ameris Bancorp by 4.7% in the second quarter. Sei Investments Co. now owns 37,570 shares of the bank’s stock worth $1,811,000 after acquiring an additional 1,685 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Ameris Bancorp by 11.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 157,748 shares of the bank’s stock worth $7,604,000 after acquiring an additional 15,743 shares in the last quarter. Institutional investors own 82.01% of the company’s stock.

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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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