Ameris Bancorp (ABCB) Rating Reiterated by Stephens

Stephens reaffirmed their buy rating on shares of Ameris Bancorp (NASDAQ:ABCB) in a research report report published on Thursday. The firm currently has a $60.00 price objective on the bank’s stock.

ABCB has been the topic of several other reports. BidaskClub raised shares of Ameris Bancorp from a strong sell rating to a sell rating in a research report on Thursday, September 13th. Zacks Investment Research raised shares of Ameris Bancorp from a sell rating to a hold rating in a research report on Friday, August 10th. Piper Jaffray Companies set a $54.00 price target on shares of Ameris Bancorp and gave the stock a hold rating in a research report on Monday, July 30th. Sandler O’Neill reaffirmed a hold rating and set a $54.00 price target on shares of Ameris Bancorp in a research report on Monday, July 30th. Finally, SunTrust Banks lowered shares of Ameris Bancorp from a buy rating to a hold rating and set a $60.00 price target on the stock. in a research report on Tuesday, June 26th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $58.00.

NASDAQ ABCB opened at $48.40 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.03. Ameris Bancorp has a 1 year low of $44.75 and a 1 year high of $59.05. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 19.52 and a beta of 1.08.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings results on Friday, July 27th. The bank reported $0.74 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.10). Ameris Bancorp had a return on equity of 10.84% and a net margin of 15.07%. The firm had revenue of $107.31 million for the quarter, compared to the consensus estimate of $108.92 million. equities research analysts anticipate that Ameris Bancorp will post 3.33 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 10th. Stockholders of record on Friday, September 28th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Thursday, September 27th. Ameris Bancorp’s payout ratio is presently 16.13%.

In related news, Director Leo J. Hill acquired 2,000 shares of the company’s stock in a transaction dated Thursday, August 2nd. The shares were bought at an average cost of $48.38 per share, with a total value of $96,760.00. Following the completion of the transaction, the director now directly owns 18,984 shares of the company’s stock, valued at $918,445.92. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Elizabeth A. Mccague acquired 1,000 shares of the company’s stock in a transaction dated Friday, August 24th. The stock was bought at an average cost of $50.05 per share, for a total transaction of $50,050.00. Following the completion of the transaction, the director now directly owns 5,226 shares of the company’s stock, valued at $261,561.30. The disclosure for this purchase can be found here. 3.07% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of ABCB. Wells Fargo & Company MN raised its position in shares of Ameris Bancorp by 1.5% in the first quarter. Wells Fargo & Company MN now owns 541,020 shares of the bank’s stock valued at $28,620,000 after purchasing an additional 8,180 shares during the period. Rhumbline Advisers raised its position in shares of Ameris Bancorp by 3.7% in the first quarter. Rhumbline Advisers now owns 95,980 shares of the bank’s stock valued at $5,077,000 after purchasing an additional 3,419 shares during the period. SG Americas Securities LLC bought a new position in shares of Ameris Bancorp in the first quarter valued at about $124,000. Victory Capital Management Inc. raised its position in shares of Ameris Bancorp by 29.2% in the first quarter. Victory Capital Management Inc. now owns 6,183 shares of the bank’s stock valued at $327,000 after purchasing an additional 1,396 shares during the period. Finally, Prudential Financial Inc. raised its position in shares of Ameris Bancorp by 4.9% in the first quarter. Prudential Financial Inc. now owns 64,813 shares of the bank’s stock valued at $3,429,000 after purchasing an additional 3,050 shares during the period. 78.39% of the stock is currently owned by institutional investors.

Ameris Bancorp Company Profile

Ameris Bancorp operates as the holding company for Ameris Bank that provides banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, and South Carolina. The company operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, Small Business Administration Division, and Premium Finance Division.

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Analyst Recommendations for Ameris Bancorp (NASDAQ:ABCB)

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