Ameris Bancorp (ABCB) Stock Rating Lowered by Zacks Investment Research

Ameris Bancorp (NASDAQ:ABCB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “ABC Bancorp is a bank holding company. “

A number of other research firms also recently weighed in on ABCB. BidaskClub downgraded shares of Ameris Bancorp from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 27th. Stephens restated a “buy” rating on shares of Ameris Bancorp in a report on Monday, April 23rd. ValuEngine upgraded shares of Ameris Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, May 8th. SunTrust Banks reduced their target price on shares of Ameris Bancorp from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, April 23rd. Finally, Sandler O’Neill set a $57.00 target price on shares of Ameris Bancorp and gave the stock a “hold” rating in a report on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $55.00.

Shares of ABCB stock opened at $55.90 on Wednesday. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 22.54 and a beta of 1.23. Ameris Bancorp has a 52 week low of $55.40 and a 52 week high of $55.70. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.00 and a current ratio of 1.02.

Ameris Bancorp (NASDAQ:ABCB) last posted its earnings results on Friday, April 20th. The bank reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.05). Ameris Bancorp had a return on equity of 12.09% and a net margin of 19.19%. The business had revenue of $95.27 million during the quarter, compared to the consensus estimate of $100.49 million. equities analysts expect that Ameris Bancorp will post 3.54 earnings per share for the current fiscal year.

In related news, insider Edwin W. Hortman, Jr. sold 10,000 shares of the company’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $57.49, for a total transaction of $574,900.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Edwin W. Hortman, Jr. sold 20,336 shares of the company’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $56.41, for a total transaction of $1,147,153.76. Following the transaction, the insider now owns 246,961 shares in the company, valued at $13,931,070.01. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,336 shares of company stock worth $2,257,854. Insiders own 3.07% of the company’s stock.

A number of large investors have recently modified their holdings of ABCB. Louisiana State Employees Retirement System grew its holdings in Ameris Bancorp by 6.7% during the 4th quarter. Louisiana State Employees Retirement System now owns 16,000 shares of the bank’s stock valued at $771,000 after purchasing an additional 1,000 shares during the last quarter. Bank of Montreal Can grew its holdings in Ameris Bancorp by 45.8% during the 4th quarter. Bank of Montreal Can now owns 3,188 shares of the bank’s stock valued at $153,000 after purchasing an additional 1,002 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Ameris Bancorp by 3.5% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 185,218 shares of the bank’s stock valued at $8,928,000 after purchasing an additional 6,235 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Ameris Bancorp by 13.9% during the 4th quarter. Fisher Asset Management LLC now owns 130,765 shares of the bank’s stock valued at $6,303,000 after purchasing an additional 15,969 shares during the last quarter. Finally, Legato Capital Management LLC grew its holdings in Ameris Bancorp by 56.5% during the 4th quarter. Legato Capital Management LLC now owns 28,601 shares of the bank’s stock valued at $1,379,000 after purchasing an additional 10,331 shares during the last quarter. Institutional investors own 85.86% of the company’s stock.

About Ameris Bancorp

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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