Ameris Bancorp (NASDAQ: ABCB) saw its price target raised by Stephens research analysts from $ 56.00 to $ 57.00 in a note issued to investors on Thursday, Benzinga reports. The company currently has a “peer-to-peer” rating on the bank’s shares. Stephens’ price target points to a potential rise of 14.67% from the current share price.
A number of other analysts have also recently commented on ABCB. Zacks investment research reduced Ameris Bancorp from a “keep” note to a “sell” note in a research report published on Tuesday, November 2. Raymond James increased his price target on Ameris Bancorp from $ 55.00 to $ 57.00 and gave the company an “outperformance” rating in a report released on Monday, November 1.
ABCB traded at $ 0.54 in Thursday’s session, reaching $ 49.71. 201,767 shares were traded, for an average volume of 408,240. The company has a 50-day simple moving average of $ 51.50 and a 200-day simple moving average of $ 50.40. The company has a market cap of $ 3.46 billion, a price-to-earnings ratio of 8.89 and a beta of 1.29. Ameris Bancorp has a one-year low at $ 36.60 and a one-year high at $ 59.85. The company has a leverage ratio of 0.19, a quick ratio of 0.98, and a current ratio of 1.05.
Ameris Bancorp (NASDAQ: ABCB) last reported its quarterly results on Thursday, October 28. The bank reported earnings per share (EPS) of $ 1.20 for the quarter, beating the Zacks’ consensus estimate of $ 1.18 by $ 0.02. Ameris Bancorp recorded a return on equity of 13.97% and a net margin of 35.40%. The company posted revenue of $ 239.40 million for the quarter, compared to a consensus estimate of $ 245.10 million. During the same period last year, the company posted EPS of $ 1.69. The company’s turnover is up 9.1% compared to the same quarter last year. As a group, stock analysts expect Ameris Bancorp to post earnings per share of 5.23 for the current fiscal year.
Meanwhile, director Jimmy D. Veal sold 973 shares of the company in a trade that took place on Friday, December 10. The stock was sold for an average price of $ 48.65, for a total value of $ 47,336.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.50% of the shares are currently held by insiders.
A number of institutional investors have recently changed their holdings to ABCB. Wellington Management Group LLP increased its stake in Ameris Bancorp by 74.5% during the third quarter. Wellington Management Group LLP now owns 4,825,887 shares of the bank valued at $ 250,367,000 after purchasing an additional 2,059,643 shares in the last quarter. Principal Financial Group Inc. increased its stake in Ameris Bancorp by 218.6% during the second quarter. Principal Financial Group Inc. now owns 1,749,442 shares of the bank valued at $ 88,575,000 after purchasing an additional 1,200,349 shares in the last quarter. William Blair Investment Management LLC raised its stake in Ameris Bancorp to 47,565.4% during the third quarter. William Blair Investment Management LLC now owns 860,361 shares of the bank valued at $ 44,636,000 after purchasing an additional 858,556 shares in the last quarter. State Street Corp increased its stake in Ameris Bancorp by 16.2% during the second quarter. State Street Corp now owns 4,115,179 shares of the bank valued at $ 208,969,000 after purchasing an additional 573,698 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Ameris Bancorp by 20.5% during the second quarter. American Century Companies Inc. now owns 1,637,457 shares of the bank valued at $ 82,904,000 after purchasing an additional 278,906 shares in the last quarter. Institutional investors hold 88.31% of the company’s shares.
About Ameris Bancorp
Ameris Bancorp is a banking holding company which, through its subsidiary Ameris Bank, provides banking services to its retail and commercial customers. It operates through the following business lines: Banking, Retail Mortgages, Warehouse Lending, SBA and Premium Finance. The banking industry offers comprehensive financial services, including business loans, consumer loans, and deposit accounts.
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