Ameris Bancorp (ABCB) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Ameris Bancorp (NASDAQ:ABCB) from a hold rating to a buy rating in a research report released on Tuesday morning. Zacks Investment Research currently has $56.00 price objective on the bank’s stock.

According to Zacks, “ABC Bancorp is a bank holding company. “

Other research analysts have also recently issued research reports about the company. BidaskClub upgraded Ameris Bancorp from a sell rating to a hold rating in a research note on Wednesday, December 20th. Piper Jaffray Companies set a $50.00 target price on Ameris Bancorp and gave the company a hold rating in a research note on Monday, October 23rd. Keefe, Bruyette & Woods restated a hold rating and issued a $52.00 target price on shares of Ameris Bancorp in a research note on Thursday, October 26th. Stephens restated a buy rating and issued a $52.00 target price on shares of Ameris Bancorp in a research note on Thursday, September 28th. Finally, ValuEngine cut Ameris Bancorp from a buy rating to a hold rating in a research note on Thursday, November 9th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $53.00.

Shares of Ameris Bancorp (ABCB) opened at $53.40 on Tuesday. Ameris Bancorp has a fifty-two week low of $41.05 and a fifty-two week high of $53.45. 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 firm has a market capitalization of $1,980.00, a P/E ratio of 23.73 and a beta of 1.20.

Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings data on Thursday, October 19th. The bank reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.02). Ameris Bancorp had a return on equity of 12.12% and a net margin of 21.57%. The business had revenue of $93.85 million during the quarter, compared to analysts’ expectations of $96.89 million. sell-side analysts forecast that Ameris Bancorp will post 2.48 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend was Thursday, December 28th. Ameris Bancorp’s payout ratio is presently 17.78%.

In other news, insider James A. Lahaise sold 14,200 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $46.58, for a total value of $661,436.00. Following the completion of the transaction, the insider now owns 73,986 shares in the company, valued at approximately $3,446,267.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 3.63% of the company’s stock.

A number of large investors have recently made changes to their positions in ABCB. Schwab Charles Investment Management Inc. raised its stake in Ameris Bancorp by 11.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 157,748 shares of the bank’s stock valued at $7,604,000 after buying an additional 15,743 shares during the last quarter. Legal & General Group Plc raised its stake in Ameris Bancorp by 10.5% during the second quarter. Legal & General Group Plc now owns 71,894 shares of the bank’s stock valued at $3,468,000 after buying an additional 6,823 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Ameris Bancorp by 66.8% during the second quarter. BNP Paribas Arbitrage SA now owns 11,274 shares of the bank’s stock valued at $543,000 after buying an additional 4,517 shares during the last quarter. Victory Capital Management Inc. raised its stake in Ameris Bancorp by 17.7% during the second quarter. Victory Capital Management Inc. now owns 4,125 shares of the bank’s stock valued at $199,000 after buying an additional 619 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Ameris Bancorp by 2.1% during the second quarter. Principal Financial Group Inc. now owns 311,656 shares of the bank’s stock valued at $15,022,000 after buying an additional 6,417 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This piece was published by Markets Daily and is owned by of Markets Daily. If you are viewing this piece on another website, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this piece can be accessed at https://www.themarketsdaily.com/2018/01/13/ameris-bancorp-abcb-upgraded-at-zacks-investment-research.html.

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.

Get a free copy of the Zacks research report on Ameris Bancorp (ABCB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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 MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply