Ameris Bancorp (ABCB) Upgraded to Buy at ValuEngine
ValuEngine upgraded shares of Ameris Bancorp (NASDAQ:ABCB) from a hold rating to a buy rating in a report released on Thursday.
Several other equities research analysts also recently weighed in on ABCB. Keefe, Bruyette & Woods raised Ameris Bancorp from a market perform rating to an outperform rating in a report on Monday, November 20th. BidaskClub downgraded Ameris Bancorp from a hold rating to a sell rating in a report on Tuesday, December 12th. Zacks Investment Research raised Ameris Bancorp from a hold rating to a buy rating and set a $54.00 price target for the company in a report on Tuesday, January 2nd. SunTrust Banks raised their price objective on Ameris Bancorp from $10.00 to $65.00 and gave the stock a buy rating in a research note on Monday, January 29th. Finally, Sandler O’Neill set a $57.00 price objective on Ameris Bancorp and gave the stock a hold rating in a research note on Monday, January 29th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $55.33.
Shares of Ameris Bancorp (NASDAQ ABCB) opened at $54.05 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $2,066.90, a PE ratio of 21.71 and a beta of 1.21. Ameris Bancorp has a twelve month low of $41.05 and a twelve month high of $56.85.
In related news, CEO Edwin W. Hortman, Jr. sold 10,000 shares of Ameris Bancorp stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $53.58, for a total transaction of $535,800.00. Following the completion of the transaction, the chief executive officer now directly owns 256,961 shares in the company, valued at $13,767,970.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James A. Lahaise sold 14,200 shares of Ameris Bancorp stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $46.58, for a total value of $661,436.00. Following the transaction, the insider now owns 73,986 shares of the company’s stock, valued at $3,446,267.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,023 shares of company stock valued at $1,515,028. 3.63% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in ABCB. Parametric Portfolio Associates LLC raised its position in Ameris Bancorp by 43.1% during the second quarter. Parametric Portfolio Associates LLC now owns 57,737 shares of the bank’s stock valued at $2,783,000 after acquiring an additional 17,393 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in Ameris Bancorp by 8.4% during the second quarter. Ameritas Investment Partners Inc. now owns 3,188 shares of the bank’s stock valued at $154,000 after acquiring an additional 248 shares in the last quarter. Nationwide Fund Advisors increased its position in shares of Ameris Bancorp by 33.6% in the third quarter. Nationwide Fund Advisors now owns 27,549 shares of the bank’s stock valued at $1,322,000 after buying an additional 6,932 shares in the last quarter. Aperio Group LLC purchased a new stake in shares of Ameris Bancorp in the third quarter valued at approximately $204,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Ameris Bancorp in the third quarter valued at approximately $486,000. Institutional investors own 82.77% of the company’s stock.
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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