Zacks Investment Research upgraded shares of Ameris Bancorp (NASDAQ:ABCB) from a sell rating to a hold rating in a research report released on Friday.

According to Zacks, “ABC Bancorp is a bank holding company. “

ABCB has been the topic of a number of other research reports. ValuEngine raised Ameris Bancorp from a hold rating to a buy rating in a research report on Friday, June 2nd. Stephens reaffirmed a buy rating and issued a $54.00 target price on shares of Ameris Bancorp in a research report on Friday, July 21st. BidaskClub downgraded Ameris Bancorp from a hold rating to a sell rating in a research report on Wednesday, July 12th. Piper Jaffray Companies reaffirmed a hold rating and issued a $48.00 target price on shares of Ameris Bancorp in a research report on Friday, July 21st. Finally, Keefe, Bruyette & Woods reissued a hold rating and set a $51.00 price target on shares of Ameris Bancorp in a research report on Monday, June 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Ameris Bancorp has an average rating of Hold and a consensus target price of $49.33.

Ameris Bancorp (NASDAQ ABCB) opened at 43.35 on Friday. Ameris Bancorp has a one year low of $33.80 and a one year high of $51.28. The stock’s 50 day moving average price is $44.18 and its 200-day moving average price is $45.72. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 18.62 and a beta of 1.29.

Ameris Bancorp (NASDAQ:ABCB) last released its earnings results on Friday, July 21st. The bank reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). The company had revenue of $91.35 million during the quarter, compared to analyst estimates of $92.71 million. Ameris Bancorp had a net margin of 22.66% and a return on equity of 12.52%. Analysts forecast that Ameris Bancorp will post $2.55 earnings per share for the current year.

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In other Ameris Bancorp news, Director Leo J. Hill purchased 1,000 shares of the stock in a transaction on Thursday, September 7th. The shares were purchased at an average price of $42.75 per share, with a total value of $42,750.00. Following the completion of the transaction, the director now directly owns 16,629 shares in the company, valued at $710,889.75. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.63% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its position in Ameris Bancorp by 83,097.4% during the first quarter. BlackRock Inc. now owns 4,668,206 shares of the bank’s stock worth $215,205,000 after buying an additional 4,662,595 shares during the last quarter. Vanguard Group Inc. increased its position in Ameris Bancorp by 2.6% during the second quarter. Vanguard Group Inc. now owns 2,588,877 shares of the bank’s stock worth $124,784,000 after buying an additional 65,815 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Ameris Bancorp by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,559,197 shares of the bank’s stock worth $75,154,000 after buying an additional 25,010 shares during the last quarter. State Street Corp increased its position in Ameris Bancorp by 7.3% during the second quarter. State Street Corp now owns 1,258,947 shares of the bank’s stock worth $60,687,000 after buying an additional 85,137 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Ameris Bancorp by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 1,217,548 shares of the bank’s stock worth $58,686,000 after buying an additional 20,713 shares during the last quarter. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Ameris Bancorp (NASDAQ:ABCB)

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