Ameris Bancorp (ABCB) Downgraded by BidaskClub to Hold
BidaskClub cut shares of Ameris Bancorp (NASDAQ:ABCB) from a buy rating to a hold rating in a report published on Wednesday.
Other analysts have also issued research reports about the company. Sandler O’Neill set a $57.00 price target on Ameris Bancorp and gave the company a hold rating in a research note on Monday, January 29th. Zacks Investment Research lowered Ameris Bancorp from a buy rating to a hold rating in a research note on Monday, January 8th. ValuEngine raised Ameris Bancorp from a hold rating to a buy rating in a research note on Thursday, March 1st. Finally, SunTrust Banks boosted their price target on Ameris Bancorp from $10.00 to $65.00 and gave the company a buy rating in a research note on Monday, January 29th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $55.33.
Shares of ABCB stock opened at $52.20 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.95 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $2,019.66, a P/E ratio of 21.17 and a beta of 1.21. Ameris Bancorp has a one year low of $41.05 and a one year high of $59.05.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 10th. Shareholders of record on Friday, March 30th were given a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, March 28th. This represents a $0.40 annualized dividend and a yield of 0.77%. Ameris Bancorp’s payout ratio is 16.13%.
In other Ameris Bancorp news, COO Dennis J. Zember, Jr. sold 5,000 shares of Ameris Bancorp stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $54.81, for a total value of $274,050.00. Following the completion of the transaction, the chief operating officer now owns 156,063 shares in the company, valued at approximately $8,553,813.03. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Edwin W. Hortman, Jr. sold 10,000 shares of Ameris Bancorp stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $53.58, for a total value of $535,800.00. Following the completion of the transaction, the chief executive officer now owns 256,961 shares of the company’s stock, valued at approximately $13,767,970.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,159 shares of company stock valued at $2,575,646. Corporate insiders own 3.07% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of ABCB. Stephens Investment Management Group LLC bought a new position in Ameris Bancorp in the 4th quarter valued at $13,543,000. BlackRock Inc. raised its position in shares of Ameris Bancorp by 3.8% during the fourth quarter. BlackRock Inc. now owns 4,746,644 shares of the bank’s stock worth $228,788,000 after acquiring an additional 171,889 shares during the last quarter. Kennedy Capital Management Inc. raised its position in shares of Ameris Bancorp by 30.5% during the fourth quarter. Kennedy Capital Management Inc. now owns 684,375 shares of the bank’s stock worth $32,987,000 after acquiring an additional 160,148 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Ameris Bancorp by 18.6% during the fourth quarter. Bank of New York Mellon Corp now owns 880,352 shares of the bank’s stock worth $42,433,000 after acquiring an additional 138,217 shares during the last quarter. Finally, Boston Partners bought a new stake in shares of Ameris Bancorp during the fourth quarter worth $5,817,000. Hedge funds and other institutional investors own 83.09% of the company’s stock.
Ameris Bancorp Company Profile
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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