Ameris Bancorp (NASDAQ:ABCB) has been given a $50.00 price target by equities researchers at Piper Jaffray Companies in a research note issued to investors on Monday. The brokerage currently has a “hold” rating on the bank’s stock. Piper Jaffray Companies’ price target would suggest a potential upside of 3.20% from the stock’s current price.
A number of other equities research analysts also recently weighed in on ABCB. Stephens reiterated a “buy” rating and set a $54.00 price target on shares of Ameris Bancorp in a research note on Friday, July 21st. Zacks Investment Research upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, September 15th. BidaskClub upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $51.00 price target on shares of Ameris Bancorp in a research note on Monday, June 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $52.00.
Shares of Ameris Bancorp (NASDAQ ABCB) opened at 48.45 on Monday. Ameris Bancorp has a 1-year low of $35.15 and a 1-year high of $51.28. The firm’s 50-day moving average is $46.63 and its 200 day moving average is $46.12. The stock has a market capitalization of $1.80 billion, a P/E ratio of 20.81 and a beta of 1.30.
Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings data on Thursday, October 19th. The bank reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.02). The company had revenue of $93.85 million during the quarter, compared to analyst estimates of $96.89 million. Ameris Bancorp had a return on equity of 12.12% and a net margin of 21.57%. On average, analysts expect that Ameris Bancorp will post $2.49 EPS for the current fiscal year.
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In related news, Director Leo J. Hill acquired 1,000 shares of the business’s stock in a transaction on Thursday, September 7th. The stock was bought at an average cost of $42.75 per share, with a total value of $42,750.00. Following the completion of the acquisition, the director now owns 16,629 shares in the company, valued at $710,889.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.63% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. lifted its holdings in shares of Ameris Bancorp by 8.4% during the second quarter. Ameritas Investment Partners Inc. now owns 3,188 shares of the bank’s stock valued at $154,000 after acquiring an additional 248 shares during the period. Riverhead Capital Management LLC lifted its holdings in shares of Ameris Bancorp by 119.8% during the second quarter. Riverhead Capital Management LLC now owns 3,297 shares of the bank’s stock valued at $159,000 after acquiring an additional 1,797 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Ameris Bancorp by 1.6% during the first quarter. Victory Capital Management Inc. now owns 3,506 shares of the bank’s stock valued at $162,000 after acquiring an additional 55 shares during the period. Flinton Capital Management LLC lifted its holdings in shares of Ameris Bancorp by 101.6% during the second quarter. Flinton Capital Management LLC now owns 4,250 shares of the bank’s stock valued at $205,000 after acquiring an additional 2,142 shares during the period. Finally, Amalgamated Bank bought a new position in shares of Ameris Bancorp during the first quarter valued at $210,000. 82.66% of the stock is owned by institutional investors.
Ameris Bancorp Company Profile
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.
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