ValuEngine cut shares of Ameris Bancorp (NASDAQ:ABCB) from a sell rating to a strong sell rating in a research note published on Friday morning.

Several other research firms also recently commented on ABCB. BidaskClub downgraded Ameris Bancorp from a sell rating to a strong sell rating in a report on Saturday, September 1st. TheStreet downgraded Ameris Bancorp from a b rating to a c+ rating in a report on Friday, August 17th. Zacks Investment Research downgraded Ameris Bancorp from a hold rating to a sell rating in a report on Thursday, September 6th. Stephens restated a buy rating and set a $60.00 price objective on shares of Ameris Bancorp in a report on Thursday, September 20th. Finally, Piper Jaffray Companies set a $50.00 price objective on Ameris Bancorp and gave the company a hold rating in a report on Monday, November 26th. Three analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $57.00.

Shares of NASDAQ ABCB traded down $0.89 during midday trading on Friday, hitting $37.44. 356,280 shares of the stock traded hands, compared to its average volume of 249,090. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 15.10 and a beta of 1.12. Ameris Bancorp has a one year low of $37.04 and a one year high of $59.05. The company has a quick ratio of 0.99, a current ratio of 1.01 and a debt-to-equity ratio of 0.53.

Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings data on Friday, October 19th. The bank reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.01. The firm had revenue of $129.21 million during the quarter, compared to the consensus estimate of $135.44 million. Ameris Bancorp had a return on equity of 11.14% and a net margin of 17.99%. On average, equities research analysts anticipate that Ameris Bancorp will post 3.29 earnings per share for the current year.

Several large investors have recently made changes to their positions in ABCB. Angelo Gordon & CO. L.P. purchased a new position in shares of Ameris Bancorp during the second quarter valued at approximately $78,187,000. BlackRock Inc. boosted its position in shares of Ameris Bancorp by 14.6% during the second quarter. BlackRock Inc. now owns 5,583,722 shares of the bank’s stock valued at $297,890,000 after buying an additional 710,335 shares during the last quarter. Strs Ohio purchased a new position in shares of Ameris Bancorp during the second quarter valued at approximately $28,454,000. NWQ Investment Management Company LLC boosted its position in shares of Ameris Bancorp by 50.3% during the third quarter. NWQ Investment Management Company LLC now owns 1,403,449 shares of the bank’s stock valued at $60,840,000 after buying an additional 469,897 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Ameris Bancorp by 10.6% during the third quarter. Vanguard Group Inc. now owns 4,275,269 shares of the bank’s stock valued at $195,381,000 after buying an additional 411,255 shares during the last quarter. 84.43% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Ameris Bancorp (NASDAQ:ABCB)

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