Analysts Set Ameris Bancorp (ABCB) Price Target at $49.20
Shares of Ameris Bancorp (NASDAQ:ABCB) have been given a consensus rating of “Hold” by the nine ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $49.20.
Several equities analysts recently commented on the stock. Piper Jaffray Companies reaffirmed a “hold” rating and set a $48.00 target price on shares of Ameris Bancorp in a report on Friday, July 21st. BidaskClub raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 30th. ValuEngine raised shares of Ameris Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Stephens reaffirmed a “buy” rating and set a $54.00 target price on shares of Ameris Bancorp in a report on Friday, July 21st. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $51.00 target price on shares of Ameris Bancorp in a report on Monday, June 26th.
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In other news, Director Leo J. Hill purchased 1,000 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were acquired at an average price of $42.75 per share, with a total value of $42,750.00. Following the acquisition, the director now directly owns 16,629 shares in the company, valued at $710,889.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.63% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the business. Lord Abbett & CO. LLC boosted its stake in shares of Ameris Bancorp by 5.8% during the 2nd quarter. Lord Abbett & CO. LLC now owns 55,025 shares of the bank’s stock valued at $2,652,000 after purchasing an additional 3,025 shares in the last quarter. Cetera Investment Advisers bought a new stake in shares of Ameris Bancorp during the 2nd quarter valued at about $597,000. Piedmont Investment Advisors LLC bought a new stake in shares of Ameris Bancorp during the 2nd quarter valued at about $387,000. Ameritas Investment Partners Inc. boosted its stake in shares of Ameris Bancorp by 8.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,188 shares of the bank’s stock valued at $154,000 after purchasing an additional 248 shares in the last quarter. Finally, Susquehanna International Group LLP bought a new stake in shares of Ameris Bancorp during the 2nd quarter valued at about $296,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.
Shares of Ameris Bancorp (NASDAQ ABCB) traded down 0.87% during mid-day trading on Wednesday, hitting $45.40. 187,769 shares of the company traded hands. The firm’s 50 day moving average price is $44.07 and its 200-day moving average price is $45.65. Ameris Bancorp has a 1-year low of $33.80 and a 1-year high of $51.28. The stock has a market capitalization of $1.69 billion, a PE ratio of 19.50 and a beta of 1.29.
Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings data on Friday, July 21st. The bank reported $0.63 earnings per share for the quarter, missing the Thomson Reuters’ 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 company had revenue of $91.35 million for the quarter, compared to analysts’ expectations of $92.71 million. On average, equities research analysts forecast that Ameris Bancorp will post $2.55 EPS for the current year.
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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