BidaskClub upgraded shares of Ameris Bancorp (NASDAQ:ABCB) from a buy rating to a strong-buy rating in a research report sent to investors on Friday.
A number of other equities research analysts have also commented on the stock. ValuEngine raised shares of Ameris Bancorp from a hold rating to a buy rating in a report on Thursday, March 1st. Zacks Investment Research lowered shares of Ameris Bancorp from a buy rating to a hold rating in a report on Tuesday, February 27th. Sandler O’Neill set a $57.00 price objective on shares of Ameris Bancorp and gave the stock a hold rating in a report on Monday, January 29th. SunTrust Banks increased their price objective on shares of Ameris Bancorp from $10.00 to $65.00 and gave the stock a buy rating in a report on Monday, January 29th. Finally, Keefe, Bruyette & Woods raised shares of Ameris Bancorp from a market perform rating to an outperform rating in a report on Monday, November 20th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $55.33.
Ameris Bancorp (NASDAQ:ABCB) traded up $1.70 on Friday, hitting $58.10. 249,948 shares of the stock traded hands, compared to its average volume of 204,583. The company has a current ratio of 0.98, a quick ratio of 0.95 and a debt-to-equity ratio of 0.42. Ameris Bancorp has a fifty-two week low of $41.05 and a fifty-two week high of $58.15. The company has a market cap of $2,156.76, a price-to-earnings ratio of 29.20 and a beta of 1.21.
In related news, CEO Edwin W. Hortman, Jr. sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $53.58, for a total value of $535,800.00. Following the sale, the chief executive officer now directly owns 256,961 shares in the company, valued at approximately $13,767,970.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Edwin W. Hortman, Jr. sold 20,336 shares of the stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $56.41, for a total transaction of $1,147,153.76. Following the completion of the sale, the insider now owns 246,961 shares in the company, valued at $13,931,070.01. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,359 shares of company stock worth $2,662,182. Corporate insiders own 3.63% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Flinton Capital Management LLC raised its position in shares of Ameris Bancorp by 19.0% in the 4th quarter. Flinton Capital Management LLC now owns 6,188 shares of the bank’s stock valued at $298,000 after acquiring an additional 986 shares during the period. Louisiana State Employees Retirement System raised its holdings in Ameris Bancorp by 6.7% during the 4th quarter. Louisiana State Employees Retirement System now owns 16,000 shares of the bank’s stock worth $771,000 after buying an additional 1,000 shares during the period. Bank of Montreal Can raised its holdings in Ameris Bancorp by 45.8% during the 4th quarter. Bank of Montreal Can now owns 3,188 shares of the bank’s stock worth $153,000 after buying an additional 1,002 shares during the period. Virtus Fund Advisers LLC raised its holdings in Ameris Bancorp by 20.5% during the 4th quarter. Virtus Fund Advisers LLC now owns 6,334 shares of the bank’s stock worth $306,000 after buying an additional 1,078 shares during the period. Finally, American International Group Inc. raised its holdings in Ameris Bancorp by 5.7% during the 3rd quarter. American International Group Inc. now owns 28,860 shares of the bank’s stock worth $1,385,000 after buying an additional 1,557 shares during the period. Institutional investors and hedge funds own 82.77% of the company’s stock.
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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.
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