Ameris Bancorp (ABCB) Upgraded to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Ameris Bancorp (NASDAQ:ABCB) from a sell rating to a hold rating in a report released on Thursday morning.
According to Zacks, “ABC Bancorp is a bank holding company. “
Several other research firms have also recently commented on ABCB. Stephens reissued a buy rating and set a $52.00 price target on shares of Ameris Bancorp in a research note on Thursday, September 28th. Keefe, Bruyette & Woods reissued a hold rating and set a $51.00 price target on shares of Ameris Bancorp in a research note on Monday, June 26th. BidaskClub cut shares of Ameris Bancorp from a hold rating to a sell rating in a research note on Wednesday, July 12th. Finally, Piper Jaffray Companies reissued a neutral rating and set a $47.50 price target on shares of Ameris Bancorp in a research note on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $51.50.
Shares of Ameris Bancorp (NASDAQ:ABCB) traded down 1.80% during trading on Thursday, hitting $49.05. The stock had a trading volume of 273,976 shares. Ameris Bancorp has a one year low of $35.15 and a one year high of $51.28. The stock’s 50-day moving average price is $45.66 and its 200 day moving average price is $45.89. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 21.07 and a beta of 1.30.
Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings data on Friday, July 21st. The bank reported $0.63 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.02). The firm had revenue of $91.35 million for the quarter, compared to analyst estimates of $92.71 million. Ameris Bancorp had a return on equity of 12.52% and a net margin of 22.66%. On average, equities analysts forecast that Ameris Bancorp will post $2.53 EPS for the current year.
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The business also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, September 28th. This represents a $0.40 annualized dividend and a dividend yield of 0.82%. Ameris Bancorp’s dividend payout ratio (DPR) is currently 17.09%.
In related news, Director Leo J. Hill purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were acquired at an average cost of $42.75 per share, with a total value of $42,750.00. Following the completion of the purchase, the director now directly owns 16,629 shares of the company’s stock, valued at $710,889.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.63% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. Ameritas Investment Partners Inc. bought a new position in Ameris Bancorp in the first quarter valued at approximately $136,000. Riverhead Capital Management LLC boosted its stake in Ameris Bancorp by 119.8% in the second quarter. Riverhead Capital Management LLC now owns 3,297 shares of the bank’s stock valued at $159,000 after acquiring an additional 1,797 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Ameris Bancorp by 1.6% in the first quarter. Victory Capital Management Inc. now owns 3,506 shares of the bank’s stock valued at $162,000 after acquiring an additional 55 shares during the last quarter. Flinton Capital Management LLC boosted its stake in Ameris Bancorp by 101.6% in the second quarter. Flinton Capital Management LLC now owns 4,250 shares of the bank’s stock valued at $205,000 after acquiring an additional 2,142 shares during the last quarter. Finally, Amalgamated Bank bought a new position in Ameris Bancorp in the first quarter valued at approximately $210,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.
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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