Ameris Bancorp (NASDAQ:ABCB) received a $50.00 target price from equities research analysts at Stephens in a research note issued on Friday, TipRanks reports. The firm currently has a “buy” rating on the bank’s stock. Stephens’ target price would indicate a potential upside of 19.76% from the stock’s previous close.
A number of other research analysts have also issued reports on the company. SunTrust Banks reduced their price objective on Ameris Bancorp from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Zacks Investment Research upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Friday. ValuEngine upgraded Ameris Bancorp from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 19th. Raymond James assumed coverage on Ameris Bancorp in a research report on Thursday, July 11th. They set an “outperform” rating and a $45.00 price objective for the company. Finally, BidaskClub upgraded Ameris Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $45.20.
NASDAQ:ABCB traded up $0.27 during midday trading on Friday, reaching $41.75. 583,073 shares of the company traded hands, compared to its average volume of 496,788. Ameris Bancorp has a twelve month low of $29.97 and a twelve month high of $45.25. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 12.35 and a beta of 1.51. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.00 and a quick ratio of 0.97. The company has a fifty day moving average price of $38.53 and a 200 day moving average price of $37.37.
Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings data on Friday, October 18th. The bank reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.03. Ameris Bancorp had a return on equity of 12.01% and a net margin of 26.23%. The business had revenue of $225.80 million during the quarter, compared to analyst estimates of $213.84 million. During the same quarter in the previous year, the firm posted $0.91 EPS. The business’s revenue for the quarter was up 74.8% compared to the same quarter last year. On average, equities research analysts forecast that Ameris Bancorp will post 3.78 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in Ameris Bancorp by 23.9% during the 2nd quarter. BlackRock Inc. now owns 7,510,872 shares of the bank’s stock valued at $294,351,000 after acquiring an additional 1,450,551 shares in the last quarter. Jennison Associates LLC raised its stake in Ameris Bancorp by 2.1% during the 2nd quarter. Jennison Associates LLC now owns 967,428 shares of the bank’s stock valued at $37,914,000 after acquiring an additional 19,600 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Ameris Bancorp by 7.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 877,935 shares of the bank’s stock valued at $34,405,000 after acquiring an additional 61,421 shares in the last quarter. Jacobs Asset Management LLC raised its stake in Ameris Bancorp by 1.8% during the 2nd quarter. Jacobs Asset Management LLC now owns 695,286 shares of the bank’s stock valued at $27,248,000 after acquiring an additional 12,500 shares in the last quarter. Finally, Maltese Capital Management LLC raised its stake in Ameris Bancorp by 3.2% during the 2nd quarter. Maltese Capital Management LLC now owns 625,091 shares of the bank’s stock valued at $24,497,000 after acquiring an additional 19,284 shares in the last quarter. 62.99% of the stock is currently owned by hedge funds and other institutional investors.
About Ameris Bancorp
Ameris Bancorp operates as the bank 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, SBA Division, and Premium Finance Division.
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