Ameris Bancorp (NASDAQ:ABCB) Receives $48.25 Average PT from Brokerages

Shares of Ameris Bancorp (NASDAQ:ABCB) have been given a consensus recommendation of “Buy” by the ten research firms that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $48.25.

Several equities research analysts recently issued reports on ABCB shares. BidaskClub downgraded Ameris Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. ValuEngine upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Stephens started coverage on shares of Ameris Bancorp in a report on Friday, November 22nd. They set a “buy” rating and a $50.00 price objective on the stock. Piper Jaffray Companies set a $53.00 target price on shares of Ameris Bancorp and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, SunTrust Banks lowered their target price on shares of Ameris Bancorp from $47.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, August 27th.

Several institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc raised its position in shares of Ameris Bancorp by 33.8% during the 3rd quarter. Versant Capital Management Inc now owns 1,184 shares of the bank’s stock valued at $47,000 after buying an additional 299 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Ameris Bancorp by 1.9% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 15,753 shares of the bank’s stock worth $617,000 after buying an additional 300 shares during the last quarter. River Oaks Capital LLC increased its stake in shares of Ameris Bancorp by 0.4% during the second quarter. River Oaks Capital LLC now owns 74,000 shares of the bank’s stock valued at $2,900,000 after buying an additional 300 shares during the period. Family Legacy Inc. increased its position in shares of Ameris Bancorp by 2.3% during the second quarter. Family Legacy Inc. now owns 16,342 shares of the bank’s stock valued at $640,000 after buying an additional 375 shares during the period. Finally, Arizona State Retirement System increased its position in shares of Ameris Bancorp by 0.7% during the second quarter. Arizona State Retirement System now owns 62,004 shares of the bank’s stock valued at $2,430,000 after buying an additional 452 shares during the period. 82.34% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ ABCB traded up $0.66 during mid-day trading on Friday, reaching $43.42. 10,306 shares of the company’s stock traded hands, compared to its average volume of 258,034. The stock has a market cap of $3.04 billion, a P/E ratio of 12.85 and a beta of 1.49. The business has a 50-day simple moving average of $43.14 and a 200 day simple moving average of $39.05. Ameris Bancorp has a 1-year low of $29.97 and a 1-year high of $44.76. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.06 and a quick ratio of 0.97.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings results on Friday, October 18th. The bank reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.03. The business had revenue of $225.80 million for the quarter, compared to analysts’ expectations of $213.84 million. Ameris Bancorp had a net margin of 19.46% and a return on equity of 11.71%. The firm’s revenue for the quarter was up 74.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.91 EPS. Equities research analysts anticipate that Ameris Bancorp will post 3.81 earnings per share for the current fiscal year.

Ameris Bancorp Company Profile

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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Analyst Recommendations for Ameris Bancorp (NASDAQ:ABCB)

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