Ameris Bancorp (ABCB) Upgraded by BidaskClub to Sell

BidaskClub upgraded shares of Ameris Bancorp (NASDAQ:ABCB) from a strong sell rating to a sell rating in a research note issued to investors on Tuesday morning.

Other equities analysts also recently issued research reports about the company. Stephens reiterated a buy rating and issued a $62.00 price objective on shares of Ameris Bancorp in a research note on Friday, July 13th. Keefe, Bruyette & Woods reiterated a buy rating and issued a $61.00 price objective on shares of Ameris Bancorp in a research note on Friday, July 27th. TheStreet downgraded Ameris Bancorp from a b rating to a c+ rating in a research note on Friday, August 17th. Zacks Investment Research downgraded Ameris Bancorp from a hold rating to a sell rating in a research note on Thursday, September 6th. Finally, Sandler O’Neill reiterated a hold rating and issued a $54.00 price objective on shares of Ameris Bancorp in a research note on Monday, July 30th. Three analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $57.67.

Shares of NASDAQ ABCB opened at $42.71 on Tuesday. Ameris Bancorp has a twelve month low of $39.34 and a twelve month high of $59.05. The company has a market capitalization of $1.98 billion, a PE ratio of 17.22 and a beta of 1.13. The company has a current ratio of 1.01, a quick ratio of 0.99 and a debt-to-equity ratio of 0.53.



Ameris Bancorp (NASDAQ:ABCB) last announced its 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. Ameris Bancorp had a return on equity of 11.14% and a net margin of 17.99%. The firm had revenue of $129.21 million for the quarter, compared to the consensus estimate of $135.44 million. On average, analysts forecast that Ameris Bancorp will post 3.32 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 10th. Investors of record on Friday, September 28th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.40 annualized dividend and a yield of 0.94%. Ameris Bancorp’s payout ratio is 16.13%.

In related news, Director Elizabeth A. Mccague bought 1,000 shares of the company’s stock in a transaction on Friday, August 24th. The shares were purchased at an average price of $50.05 per share, for a total transaction of $50,050.00. Following the completion of the transaction, the director now directly owns 5,226 shares in the company, valued at approximately $261,561.30. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Leo J. Hill bought 2,000 shares of the company’s stock in a transaction on Thursday, August 2nd. The shares were bought at an average price of $48.38 per share, for a total transaction of $96,760.00. Following the transaction, the director now owns 18,984 shares of the company’s stock, valued at $918,445.92. The disclosure for this purchase can be found here. 3.07% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of ABCB. Angelo Gordon & CO. L.P. purchased a new stake in shares of Ameris Bancorp during the second quarter worth $78,187,000. BlackRock Inc. lifted its position in shares of Ameris Bancorp by 14.6% during the second quarter. BlackRock Inc. now owns 5,583,722 shares of the bank’s stock worth $297,890,000 after acquiring an additional 710,335 shares in the last quarter. Strs Ohio purchased a new stake in shares of Ameris Bancorp during the second quarter worth $28,454,000. PL Capital Advisors LLC purchased a new stake in shares of Ameris Bancorp during the second quarter worth $9,203,000. Finally, Cornerstone Wealth Management LLC purchased a new stake in shares of Ameris Bancorp during the second quarter worth $2,138,000. Hedge funds and other institutional investors own 78.07% of the company’s stock.

About Ameris Bancorp

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.

Further Reading: Moving Average (MA)

Analyst Recommendations for Ameris Bancorp (NASDAQ:ABCB)

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