Ameris Bancorp (ABCB) Upgraded at BidaskClub

Ameris Bancorp (NASDAQ:ABCB) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

Several other research firms have also issued reports on ABCB. Keefe, Bruyette & Woods reissued a “hold” rating and set a $52.00 target price on shares of Ameris Bancorp in a report on Thursday, October 26th. Zacks Investment Research raised Ameris Bancorp from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Tuesday, January 2nd. ValuEngine lowered Ameris Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Piper Jaffray Companies reissued a “neutral” rating and set a $47.50 target price on shares of Ameris Bancorp in a report on Thursday, October 5th. Finally, Sandler O’Neill set a $57.00 target price on Ameris Bancorp and gave the stock a “hold” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $55.33.

Ameris Bancorp (ABCB) traded down $1.40 on Wednesday, hitting $53.55. The stock had a trading volume of 148,508 shares, compared to its average volume of 231,181. The firm has a market cap of $2,051.43, a price-to-earnings ratio of 26.91 and a beta of 1.20. Ameris Bancorp has a 12 month low of $41.05 and a 12 month high of $56.85. The company has a current ratio of 0.98, a quick ratio of 0.95 and a debt-to-equity ratio of 0.42.

Ameris Bancorp (NASDAQ:ABCB) last released its earnings results on Friday, January 26th. The bank reported $0.63 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.63. The company had revenue of $89.90 million for 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 quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 EPS. equities analysts anticipate that Ameris Bancorp will post 3.47 EPS for the current year.

In related news, insider James A. Lahaise sold 14,200 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $46.58, for a total value of $661,436.00. Following the sale, the insider now directly owns 73,986 shares of the company’s stock, valued at $3,446,267.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.63% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Legato Capital Management LLC boosted its stake in Ameris Bancorp by 56.5% in the fourth quarter. Legato Capital Management LLC now owns 28,601 shares of the bank’s stock valued at $1,379,000 after buying an additional 10,331 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Ameris Bancorp by 13.9% in the fourth quarter. Fisher Asset Management LLC now owns 130,765 shares of the bank’s stock valued at $6,303,000 after buying an additional 15,969 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Ameris Bancorp by 3.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 185,218 shares of the bank’s stock valued at $8,928,000 after buying an additional 6,235 shares in the last quarter. Bank of Montreal Can boosted its stake in Ameris Bancorp by 45.8% in the fourth quarter. Bank of Montreal Can now owns 3,188 shares of the bank’s stock valued at $153,000 after buying an additional 1,002 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in Ameris Bancorp by 6.7% in the fourth quarter. Louisiana State Employees Retirement System now owns 16,000 shares of the bank’s stock valued at $771,000 after buying an additional 1,000 shares in the last quarter. 81.78% of the stock is currently owned by institutional investors and hedge funds.

WARNING: “Ameris Bancorp (ABCB) Upgraded at BidaskClub” was first reported by Community Financial News and is owned by of Community Financial News. If you are accessing this report on another site, it was illegally stolen and reposted in violation of United States and international copyright and trademark legislation. The legal version of this report can be viewed at https://www.com-unik.info/2018/01/31/ameris-bancorp-abcb-upgraded-at-bidaskclub.html.

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)

Receive News & Ratings for Ameris Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameris Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit