Brokerages Set Ameris Bancorp (ABCB) Price Target at $57.40

Ameris Bancorp (NASDAQ:ABCB) has been given an average recommendation of “Hold” by the nine analysts that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $56.60.

A number of analysts have recently weighed in on ABCB shares. BidaskClub upgraded Ameris Bancorp from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 13th. Stephens reiterated a “buy” rating and set a $58.00 price target on shares of Ameris Bancorp in a research report on Monday, October 22nd. Zacks Investment Research upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. TheStreet raised Ameris Bancorp from a “c+” rating to a “b-” rating in a report on Tuesday, November 13th. Finally, Piper Jaffray Companies set a $54.00 price objective on Ameris Bancorp and gave the stock a “hold” rating in a report on Monday, July 30th.

Shares of Ameris Bancorp stock traded up $0.67 on Monday, reaching $43.16. 172,541 shares of the company were exchanged, compared to its average volume of 290,915. The company has a current ratio of 1.01, a quick ratio of 0.99 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 17.40 and a beta of 1.16. Ameris Bancorp has a 1-year low of $39.34 and a 1-year high of $59.05.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings results on Friday, October 19th. The bank reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.01. The business had revenue of $129.21 million for the quarter, compared to analysts’ expectations of $135.44 million. Ameris Bancorp had a return on equity of 11.14% and a net margin of 17.99%. Sell-side analysts predict that Ameris Bancorp will post 3.32 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of ABCB. LPL Financial LLC bought a new position in Ameris Bancorp in the 1st quarter worth approximately $279,000. Principal Financial Group Inc. boosted its stake in Ameris Bancorp by 5.8% during the 1st quarter. Principal Financial Group Inc. now owns 318,589 shares of the bank’s stock valued at $16,853,000 after purchasing an additional 17,597 shares in the last quarter. Xact Kapitalforvaltning AB boosted its stake in Ameris Bancorp by 39.2% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 8,530 shares of the bank’s stock valued at $455,000 after purchasing an additional 2,400 shares in the last quarter. Bank of Montreal Can boosted its stake in Ameris Bancorp by 85.0% during the 2nd quarter. Bank of Montreal Can now owns 18,275 shares of the bank’s stock valued at $976,000 after purchasing an additional 8,395 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in Ameris Bancorp by 7.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 18,200 shares of the bank’s stock valued at $971,000 after purchasing an additional 1,200 shares in the last quarter. 77.85% of the stock is owned by institutional investors and hedge funds.

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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