Ameris Bancorp (ABCB) Rating Lowered to Hold at Zacks Investment Research
Zacks Investment Research downgraded shares of Ameris Bancorp (NASDAQ:ABCB) from a buy rating to a hold rating in a research note published on Tuesday morning.
According to Zacks, “ABC Bancorp is a bank holding company. “
Several other research analysts also recently weighed in on the stock. SunTrust Banks upped their price objective on shares of Ameris Bancorp from $10.00 to $65.00 and gave the stock a buy rating in a report on Monday, January 29th. ValuEngine downgraded shares of Ameris Bancorp from a buy rating to a hold rating in a report on Thursday, November 9th. BidaskClub downgraded shares of Ameris Bancorp from a hold rating to a sell rating in a report on Tuesday, December 12th. Sandler O’Neill set a $57.00 price objective on shares of Ameris Bancorp and gave the stock a hold rating in a report on Monday, January 29th. Finally, Keefe, Bruyette & Woods upgraded shares of Ameris Bancorp from a market perform rating to an outperform rating in a report on Monday, November 20th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $55.33.
Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings data on Friday, January 26th. The bank reported $0.63 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.63. Ameris Bancorp had a net margin of 18.44% and a return on equity of 11.73%. The firm had revenue of $89.90 million for the quarter, compared to the consensus estimate of $96.28 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. The business’s revenue was up 3.1% on a year-over-year basis. equities analysts forecast that Ameris Bancorp will post 3.49 EPS for the current year.
In other news, COO Dennis J. Zember, Jr. sold 5,000 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $54.81, for a total value of $274,050.00. Following the completion of the sale, the chief operating officer now owns 156,063 shares in the company, valued at $8,553,813.03. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider James A. Lahaise sold 14,200 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $46.58, for a total transaction of $661,436.00. Following the completion of the sale, the insider now owns 73,986 shares of the company’s stock, valued at approximately $3,446,267.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,023 shares of company stock valued at $1,515,028. 3.63% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. raised its holdings in shares of Ameris Bancorp by 8.4% in the second 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 during the last quarter. Bank of Montreal Can raised its holdings in shares of Ameris Bancorp by 45.8% in the fourth quarter. Bank of Montreal Can now owns 3,188 shares of the bank’s stock valued at $153,000 after purchasing an additional 1,002 shares during the last quarter. Aperio Group LLC purchased a new stake in shares of Ameris Bancorp in the third quarter valued at about $204,000. Elkfork Partners LLC purchased a new stake in shares of Ameris Bancorp in the fourth quarter valued at about $246,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Ameris Bancorp in the third quarter valued at about $285,000. Institutional investors own 83.51% of the company’s stock.
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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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