Ameris Bancorp (ABCB) Rating Lowered to Hold at Zacks Investment Research
Zacks Investment Research cut shares of Ameris Bancorp (NASDAQ:ABCB) from a buy rating to a hold rating in a research report report published on Monday morning.
According to Zacks, “ABC Bancorp is a bank holding company. “
Several other equities research analysts have also commented on the company. BidaskClub upgraded Ameris Bancorp from a sell rating to a hold rating in a research note on Wednesday, December 20th. Keefe, Bruyette & Woods upgraded Ameris Bancorp from a market perform rating to an outperform rating in a research note on Monday, November 20th. ValuEngine lowered Ameris Bancorp from a buy rating to a hold rating in a research note on Thursday, November 9th. Piper Jaffray Companies set a $50.00 price target on Ameris Bancorp and gave the stock a hold rating in a research note on Monday, October 23rd. Finally, Stephens restated a buy rating and set a $52.00 price target on shares of Ameris Bancorp in a research note on Thursday, September 28th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Ameris Bancorp has a consensus rating of Buy and a consensus price target of $53.00.
Ameris Bancorp (ABCB) traded up $1.40 during trading on Monday, reaching $52.55. The company had a trading volume of 235,000 shares, compared to its average volume of 300,900. The firm has a market capitalization of $1,960.00, a price-to-earnings ratio of 23.36 and a beta of 1.20. Ameris Bancorp has a 52-week low of $41.05 and a 52-week high of $52.80. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.07 and a quick ratio of 1.04.
Ameris Bancorp (NASDAQ:ABCB) last released its earnings results on Thursday, October 19th. The bank reported $0.63 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.02). The business had revenue of $93.85 million during the quarter, compared to analyst estimates of $96.89 million. Ameris Bancorp had a net margin of 21.57% and a return on equity of 12.12%. equities research analysts forecast that Ameris Bancorp will post 2.48 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Friday, December 29th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.40 annualized dividend and a yield of 0.76%. Ameris Bancorp’s dividend payout ratio is presently 17.78%.
In other Ameris Bancorp news, insider James A. Lahaise sold 14,200 shares of the company’s stock in a transaction dated Wednesday, December 13th. The stock was 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 directly owns 73,986 shares in the company, valued at $3,446,267.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.63% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP boosted its position in shares of Ameris Bancorp by 19.4% in the third quarter. GSA Capital Partners LLP now owns 43,265 shares of the bank’s stock worth $2,077,000 after buying an additional 7,040 shares during the period. Maltese Capital Management LLC boosted its position in shares of Ameris Bancorp by 4.0% in the third quarter. Maltese Capital Management LLC now owns 581,101 shares of the bank’s stock worth $27,893,000 after buying an additional 22,201 shares during the period. Castine Capital Management LLC boosted its position in shares of Ameris Bancorp by 8.9% in the third quarter. Castine Capital Management LLC now owns 268,532 shares of the bank’s stock worth $12,890,000 after buying an additional 21,833 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Ameris Bancorp by 13.5% in the third quarter. Schwab Charles Investment Management Inc. now owns 178,983 shares of the bank’s stock worth $8,592,000 after buying an additional 21,235 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Ameris Bancorp by 169.9% in the third quarter. JPMorgan Chase & Co. now owns 139,584 shares of the bank’s stock worth $6,687,000 after buying an additional 87,876 shares during the period. 81.98% of the stock is owned by institutional investors.
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.
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