Zacks Investment Research Lowers Ameris Bancorp (ABCB) to Sell

Zacks Investment Research lowered shares of Ameris Bancorp (NASDAQ:ABCB) from a hold rating to a sell rating in a research report report published on Tuesday morning.

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

Several other research analysts also recently issued reports on ABCB. ValuEngine downgraded Ameris Bancorp from a sell rating to a strong sell rating in a research note on Friday, December 7th. BidaskClub downgraded Ameris Bancorp from a sell rating to a strong sell rating in a research note on Saturday, September 29th. TheStreet raised Ameris Bancorp from a c+ rating to a b- rating in a research note on Tuesday, November 13th. FIG Partners raised Ameris Bancorp from a market perform rating to an outperform rating in a research note on Wednesday, December 19th. Finally, Sandler O’Neill raised shares of Ameris Bancorp from a hold rating to a buy rating in a research note on Wednesday, December 19th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $56.67.

NASDAQ:ABCB opened at $34.38 on Tuesday. Ameris Bancorp has a 1-year low of $29.97 and a 1-year high of $59.05. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.99 and a current ratio of 1.01. The firm has a market capitalization of $1.64 billion, a P/E ratio of 13.86 and a beta of 1.39.

Ameris Bancorp (NASDAQ:ABCB) last released its earnings results on Friday, October 19th. The bank reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.01. Ameris Bancorp had a return on equity of 11.14% and a net margin of 17.99%. The company had revenue of $129.21 million during the quarter, compared to the consensus estimate of $135.44 million. Analysts forecast that Ameris Bancorp will post 3.3 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, January 10th. Investors of record on Monday, December 31st were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.16%. The ex-dividend date was Friday, December 28th. Ameris Bancorp’s payout ratio is 16.13%.

A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC grew its holdings in Ameris Bancorp by 356.0% in the 2nd quarter. SG Americas Securities LLC now owns 10,725 shares of the bank’s stock valued at $572,000 after buying an additional 8,373 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of Ameris Bancorp by 14.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 214,826 shares of the bank’s stock worth $11,461,000 after purchasing an additional 27,619 shares during the period. Swiss National Bank grew its holdings in shares of Ameris Bancorp by 9.7% during the 2nd quarter. Swiss National Bank now owns 71,064 shares of the bank’s stock worth $3,791,000 after purchasing an additional 6,300 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Ameris Bancorp during the 2nd quarter worth about $352,000. Finally, BlackRock Inc. grew its holdings in shares of Ameris Bancorp by 14.6% during the 2nd quarter. BlackRock Inc. now owns 5,583,722 shares of the bank’s stock worth $297,890,000 after purchasing an additional 710,335 shares during the period. 84.41% of the stock is owned by hedge funds and other 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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