Ameris Bancorp (ABCB) Stock Rating Upgraded by Keefe, Bruyette & Woods
Ameris Bancorp (NASDAQ:ABCB) was upgraded by stock analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a report issued on Monday.
Several other equities research analysts have also weighed in on the company. Zacks Investment Research raised Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, September 15th. Piper Jaffray Companies set a $48.00 target price on Ameris Bancorp and gave the stock a “hold” rating in a research report on Friday, October 6th. Stephens reissued a “buy” rating and set a $52.00 target price on shares of Ameris Bancorp in a research report on Thursday, September 28th. BidaskClub lowered Ameris Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Finally, ValuEngine lowered Ameris Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $52.25.
Shares of Ameris Bancorp (ABCB) opened at $48.95 on Monday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.07 and a quick ratio of 1.04. The stock has a market capitalization of $1,775.92, a PE ratio of 19.23 and a beta of 1.19. Ameris Bancorp has a 12-month low of $41.05 and a 12-month high of $51.28.
Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings results on Thursday, October 19th. The bank reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). Ameris Bancorp had a net margin of 21.57% and a return on equity of 12.12%. The company had revenue of $93.85 million during the quarter, compared to analyst estimates of $96.89 million. equities research analysts expect that Ameris Bancorp will post 2.48 earnings per share for the current fiscal year.
In other Ameris Bancorp news, Director Leo J. Hill bought 1,000 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were acquired at an average price of $42.75 per share, with a total value of $42,750.00. Following the transaction, the director now owns 16,629 shares of the company’s stock, valued at $710,889.75. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 3.63% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP increased its position in Ameris Bancorp by 19.4% during 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 increased its position in Ameris Bancorp by 4.0% during 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 increased its position in Ameris Bancorp by 8.9% during 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. increased its position in Ameris Bancorp by 13.5% during 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. increased its position in Ameris Bancorp by 169.9% during 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. 82.71% of the stock is currently 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.
Receive News & Ratings for Ameris Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameris Bancorp and related companies with Analyst Ratings Network's FREE daily email newsletter.