BidaskClub Lowers Ameris Bancorp (ABCB) to Buy

BidaskClub cut shares of Ameris Bancorp (NASDAQ:ABCB) from a strong-buy rating to a buy rating in a research note released on Tuesday morning.

A number of other research analysts have also recently issued reports on ABCB. Sandler O’Neill set a $57.00 price objective on shares of Ameris Bancorp and gave the company a hold rating in a report on Monday, January 29th. Zacks Investment Research cut shares of Ameris Bancorp from a buy rating to a hold rating in a report on Monday, January 8th. ValuEngine upgraded shares of Ameris Bancorp from a hold rating to a buy rating in a report on Thursday, March 1st. Finally, SunTrust Banks lifted their price objective on shares of Ameris Bancorp from $10.00 to $65.00 and gave the company a buy rating in a report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $55.33.

How to Become a New Pot Stock Millionaire

NASDAQ:ABCB opened at $52.90 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $2,022.92, a price-to-earnings ratio of 21.33 and a beta of 1.21. Ameris Bancorp has a 12 month low of $41.05 and a 12 month high of $59.05.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings results on Friday, January 26th. The bank reported $0.63 EPS for the quarter, hitting analysts’ consensus estimates of $0.63. The business had revenue of $89.90 million during the quarter, compared to analysts’ expectations of $96.28 million. Ameris Bancorp had a net margin of 18.44% and a return on equity of 11.73%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the company posted $0.63 earnings per share. research analysts anticipate that Ameris Bancorp will post 3.49 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Stockholders of record on Friday, March 30th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Wednesday, March 28th. Ameris Bancorp’s dividend payout ratio is currently 16.13%.

In related news, CEO Edwin W. Hortman, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $53.58, for a total transaction of $535,800.00. Following the transaction, the chief executive officer now directly owns 256,961 shares of the company’s stock, valued at $13,767,970.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Lawton E. Bassett III sold 823 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $53.15, for a total transaction of $43,742.45. Following the transaction, the president now directly owns 19,408 shares in the company, valued at $1,031,535.20. The disclosure for this sale can be found here. Insiders have sold 46,159 shares of company stock valued at $2,575,646 over the last quarter. Corporate insiders own 3.63% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Flinton Capital Management LLC lifted its position in shares of Ameris Bancorp by 19.0% during the fourth quarter. Flinton Capital Management LLC now owns 6,188 shares of the bank’s stock valued at $298,000 after purchasing an additional 986 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Ameris Bancorp by 6.7% during the fourth quarter. Louisiana State Employees Retirement System now owns 16,000 shares of the bank’s stock valued at $771,000 after purchasing an additional 1,000 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Ameris Bancorp by 45.8% during the fourth quarter. Bank of Montreal Can now owns 3,188 shares of the bank’s stock valued at $153,000 after purchasing an additional 1,002 shares in the last quarter. Virtus Fund Advisers LLC lifted its position in shares of Ameris Bancorp by 20.5% during the fourth quarter. Virtus Fund Advisers LLC now owns 6,334 shares of the bank’s stock valued at $306,000 after purchasing an additional 1,078 shares in the last quarter. Finally, American International Group Inc. lifted its position in shares of Ameris Bancorp by 5.7% during the third quarter. American International Group Inc. now owns 28,860 shares of the bank’s stock valued at $1,385,000 after purchasing an additional 1,557 shares in the last quarter. 83.25% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: This news story was first posted by WKRB News and is the sole property of of WKRB News. If you are reading this news story on another publication, it was illegally copied and reposted in violation of United States & international trademark and copyright laws. The legal version of this news story can be viewed at https://www.wkrb13.com/2018/03/31/bidaskclub-lowers-ameris-bancorp-abcb-to-buy.html.

About Ameris Bancorp

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.

Analyst Recommendations for Ameris Bancorp (NASDAQ:ABCB)

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.

Leave a Reply