Ameris Bancorp (ABCB) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Ameris Bancorp (NASDAQ:ABCB) from a sell rating to a hold rating in a research report sent to investors on Friday.
According to Zacks, “ABC Bancorp is a bank holding company. “
A number of other research firms have also commented on ABCB. Keefe, Bruyette & Woods restated a hold rating and issued a $51.00 price target on shares of Ameris Bancorp in a research report on Wednesday, May 24th. ValuEngine upgraded shares of Ameris Bancorp from a hold rating to a buy rating in a research report on Friday, June 2nd. BidaskClub upgraded shares of Ameris Bancorp from a sell rating to a hold rating in a research report on Friday, June 30th. Stephens restated a buy rating and issued a $54.00 price target on shares of Ameris Bancorp in a research report on Friday, July 21st. Finally, Piper Jaffray Companies restated a hold rating and issued a $48.00 price target on shares of Ameris Bancorp in a research report on Friday, July 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Ameris Bancorp has an average rating of Hold and an average target price of $49.33.
Shares of Ameris Bancorp (ABCB) opened at 43.80 on Friday. Ameris Bancorp has a 1-year low of $33.80 and a 1-year high of $51.28. The company has a 50-day moving average price of $44.12 and a 200-day moving average price of $45.67. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 18.81 and a beta of 1.29.
Ameris Bancorp (NASDAQ:ABCB) last issued its earnings results on Friday, July 21st. The bank reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.02). Ameris Bancorp had a net margin of 22.66% and a return on equity of 12.52%. The business had revenue of $91.35 million for the quarter, compared to analyst estimates of $92.71 million. On average, equities analysts expect that Ameris Bancorp will post $2.55 earnings per share for the current fiscal year.
WARNING: This news story was published by Daily Political and is the sole property of of Daily Political. If you are reading this news story on another site, it was stolen and republished in violation of US and international trademark and copyright law. The legal version of this news story can be viewed at https://www.dailypolitical.com/2017/09/19/ameris-bancorp-abcb-stock-rating-upgraded-by-zacks-investment-research.html.
In other news, Director Leo J. Hill purchased 1,000 shares of Ameris Bancorp stock in a transaction on Thursday, September 7th. The shares were purchased at an average cost of $42.75 per share, for a total transaction of $42,750.00. Following the completion of the transaction, the director now directly owns 16,629 shares in the company, valued at $710,889.75. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.63% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in ABCB. LS Investment Advisors LLC raised its stake in shares of Ameris Bancorp by 126.5% in the first quarter. LS Investment Advisors LLC now owns 2,901 shares of the bank’s stock worth $134,000 after acquiring an additional 1,620 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Ameris Bancorp in the first quarter worth about $136,000. Riverhead Capital Management LLC raised its stake in shares of Ameris Bancorp by 119.8% in the second quarter. Riverhead Capital Management LLC now owns 3,297 shares of the bank’s stock worth $159,000 after acquiring an additional 1,797 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Ameris Bancorp by 1.6% in the first quarter. Victory Capital Management Inc. now owns 3,506 shares of the bank’s stock worth $162,000 after acquiring an additional 55 shares during the last quarter. Finally, First Interstate Bank raised its stake in shares of Ameris Bancorp by 8.8% in the first quarter. First Interstate Bank now owns 3,845 shares of the bank’s stock worth $177,000 after acquiring an additional 310 shares during the last quarter. 82.41% of the stock is owned by 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.