FY2017 EPS Estimates for Ameris Bancorp Reduced by Analyst (ABCB)
Ameris Bancorp (NASDAQ:ABCB) – Equities researchers at FIG Partners dropped their FY2017 earnings estimates for shares of Ameris Bancorp in a note issued to investors on Wednesday. FIG Partners analyst C. Marinac now anticipates that the bank will post earnings of $2.51 per share for the year, down from their prior estimate of $2.53.
Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings data on Friday, July 21st. The bank reported $0.63 EPS for the quarter, missing analysts’ consensus estimates 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%. ILLEGAL ACTIVITY NOTICE: This report was originally published by Watch List News and is the sole property of of Watch List News. If you are reading this report on another domain, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this report can be viewed at https://www.watchlistnews.com/fy2017-eps-estimates-for-ameris-bancorp-reduced-by-analyst-abcb/1537925.html.
Other research analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Ameris Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Piper Jaffray Companies reiterated a “hold” rating and issued a $48.00 target price on shares of Ameris Bancorp in a report on Friday, July 21st. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $51.00 target price on shares of Ameris Bancorp in a report on Monday, June 26th. Stephens reiterated a “buy” rating and issued a $54.00 target price on shares of Ameris Bancorp in a report on Friday, July 21st. Finally, Zacks Investment Research downgraded shares of Ameris Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Ameris Bancorp currently has a consensus rating of “Hold” and a consensus target price of $49.33.
Shares of Ameris Bancorp (ABCB) opened at 44.75 on Thursday. The firm has a market capitalization of $1.66 billion, a P/E ratio of 19.22 and a beta of 1.29. The stock’s 50 day moving average price is $45.23 and its 200-day moving average price is $46.09. Ameris Bancorp has a 12-month low of $33.80 and a 12-month high of $51.28.
In other news, CEO Edwin W. Hortman, Jr. sold 27,459 shares of the business’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $46.69, for a total transaction of $1,282,060.71. Following the transaction, the chief executive officer now owns 207,725 shares in the company, valued at approximately $9,698,680.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Cindi H. Lewis sold 3,200 shares of the business’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $46.00, for a total transaction of $147,200.00. Following the transaction, the chief accounting officer now owns 70,578 shares in the company, valued at approximately $3,246,588. The disclosure for this sale can be found here. Company insiders own 3.63% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Lord Abbett & CO. LLC increased its position in Ameris Bancorp by 5.8% in the second quarter. Lord Abbett & CO. LLC now owns 55,025 shares of the bank’s stock valued at $2,652,000 after buying an additional 3,025 shares during the last quarter. Cetera Investment Advisers bought a new position in Ameris Bancorp during the second quarter valued at about $597,000. Piedmont Investment Advisors LLC bought a new position in Ameris Bancorp during the second quarter valued at about $387,000. Ameritas Investment Partners Inc. increased its position in 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 buying an additional 248 shares during the last quarter. Finally, Susquehanna International Group LLP bought a new position in Ameris Bancorp during the second quarter valued at about $296,000. Institutional investors own 82.41% of the company’s stock.
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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