Ameris Bancorp (ABCB) Cut to Hold at ValuEngine
ValuEngine downgraded shares of Ameris Bancorp (NASDAQ:ABCB) from a buy rating to a hold rating in a report released on Thursday morning.
Several other research analysts also recently weighed in on the stock. Keefe, Bruyette & Woods reissued a hold rating and issued a $52.00 target price on shares of Ameris Bancorp in a research report on Thursday, October 26th. Piper Jaffray Companies set a $50.00 target price on shares of Ameris Bancorp and gave the stock a hold rating in a research report on Monday, October 23rd. Zacks Investment Research raised shares of Ameris Bancorp from a sell rating to a hold rating in a research report on Thursday, October 12th. Stephens reissued a buy rating and issued a $52.00 target price on shares of Ameris Bancorp in a research report on Thursday, September 28th. Finally, BidaskClub downgraded shares of Ameris Bancorp from a sell rating to a strong sell rating in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $52.25.
Ameris Bancorp (NASDAQ:ABCB) traded up $0.05 during trading on Thursday, hitting $45.80. 110,300 shares of the stock traded hands, compared to its average volume of 190,684. The stock has a market capitalization of $1,705.18, a P/E ratio of 18.47 and a beta of 1.19. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.04 and a current ratio of 1.07. Ameris Bancorp has a 1-year low of $40.05 and a 1-year high of $51.28.
Ameris Bancorp (NASDAQ:ABCB) last released its earnings results on Thursday, October 19th. The bank reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.02). The firm had revenue of $93.85 million during the quarter, compared to analysts’ expectations of $96.89 million. Ameris Bancorp had a return on equity of 12.12% and a net margin of 21.57%. research analysts predict that Ameris Bancorp will post 2.49 earnings per share for the current fiscal year.
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In related news, Director Leo J. Hill purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was acquired at an average cost of $42.75 per share, for a total transaction of $42,750.00. Following the completion of the acquisition, the director now owns 16,629 shares in the company, valued at approximately $710,889.75. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.63% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Alps Advisors Inc. boosted its holdings in shares of Ameris Bancorp by 0.3% during the second quarter. Alps Advisors Inc. now owns 10,298 shares of the bank’s stock worth $496,000 after purchasing an additional 27 shares during the period. Jennison Associates LLC boosted its holdings in shares of Ameris Bancorp by 0.5% during the second quarter. Jennison Associates LLC now owns 27,731 shares of the bank’s stock worth $1,337,000 after purchasing an additional 136 shares during the period. Amalgamated Bank boosted its holdings in shares of Ameris Bancorp by 4.0% during the second quarter. Amalgamated Bank now owns 4,737 shares of the bank’s stock worth $228,000 after purchasing an additional 183 shares during the period. New York State Teachers Retirement System boosted its holdings in shares of Ameris Bancorp by 1.3% during the first quarter. New York State Teachers Retirement System now owns 15,098 shares of the bank’s stock worth $696,000 after purchasing an additional 200 shares during the period. Finally, Louisiana State Employees Retirement System boosted its holdings in shares of Ameris Bancorp by 1.3% during the second quarter. Louisiana State Employees Retirement System now owns 15,100 shares of the bank’s stock worth $728,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 83.57% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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