Ameris Bancorp’s (NASDAQ:ABCB) Hold Rating Reiterated at Piper Jaffray Companies
Ameris Bancorp (NASDAQ:ABCB)‘s stock had its “hold” rating restated by analysts at Piper Jaffray Companies in a research report issued to clients and investors on Friday. They currently have a $48.00 price objective on the bank’s stock. Piper Jaffray Companies’ price objective would suggest a potential upside of 2.24% from the stock’s current price.
Several other equities analysts have also commented on ABCB. Zacks Investment Research lowered shares of Ameris Bancorp from a “hold” rating to a “sell” rating in a report on Monday, March 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $50.00 target price on shares of Ameris Bancorp in a report on Wednesday, April 5th. Stephens reaffirmed a “buy” rating and set a $52.00 target price on shares of Ameris Bancorp in a report on Friday, April 21st. SunTrust Banks, Inc. raised shares of Ameris Bancorp from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Wednesday, April 26th. Finally, ValuEngine raised shares of Ameris Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $49.33.
Shares of Ameris Bancorp (NASDAQ ABCB) traded down 0.42% during mid-day trading on Friday, reaching $46.95. 218,203 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $47.16 and a 200 day moving average price of $46.01. Ameris Bancorp has a 52-week low of $30.79 and a 52-week high of $51.28. The firm has a market cap of $1.67 billion, a P/E ratio of 20.49 and a beta of 1.28.
Ameris Bancorp (NASDAQ:ABCB) last released its earnings results on Friday, April 21st. The bank reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. Ameris Bancorp had a net margin of 22.56% and a return on equity of 12.74%. The company had revenue of $86.30 million for the quarter, compared to analyst estimates of $86.84 million. Analysts forecast that Ameris Bancorp will post $2.60 earnings per share for the current fiscal year.
In other news, CEO Edwin W. Hortman, Jr. sold 14,578 shares of the firm’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $47.37, for a total value of $690,559.86. Following the completion of the sale, the chief executive officer now directly owns 234,664 shares of the company’s stock, valued at approximately $11,116,033.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Cindi H. Lewis sold 3,200 shares of the firm’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $46.00, for a total transaction of $147,200.00. Following the completion of the sale, the chief accounting officer now directly owns 70,578 shares of the company’s stock, valued at $3,246,588. The disclosure for this sale can be found here. In the last three months, insiders have acquired 1,860 shares of company stock valued at $84,541 and have sold 78,474 shares valued at $3,691,854. Corporate insiders own 3.63% of the company’s stock.
Several large investors have recently bought and sold shares of ABCB. LS Investment Advisors LLC boosted its stake in Ameris Bancorp by 126.5% in the first quarter. LS Investment Advisors LLC now owns 2,901 shares of the bank’s stock valued at $134,000 after buying an additional 1,620 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in Ameris Bancorp during the first quarter valued at approximately $136,000. Victory Capital Management Inc. boosted its stake in Ameris Bancorp by 1.6% in the first quarter. Victory Capital Management Inc. now owns 3,506 shares of the bank’s stock valued at $162,000 after buying an additional 55 shares in the last quarter. First Interstate Bank boosted its stake in Ameris Bancorp by 8.8% in the first quarter. First Interstate Bank now owns 3,845 shares of the bank’s stock valued at $177,000 after buying an additional 310 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in Ameris Bancorp by 7.4% in the first quarter. State of Alaska Department of Revenue now owns 4,050 shares of the bank’s stock valued at $186,000 after buying an additional 280 shares in the last quarter. 84.17% of the stock is owned by hedge funds and other institutional investors.
Ameris Bancorp Company Profile
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.
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