Ameris Bancorp (ABCB) Given Average Recommendation of “Buy” by Brokerages
Ameris Bancorp (NASDAQ:ABCB) has been assigned a consensus recommendation of “Buy” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $56.00.
ABCB has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Ameris Bancorp from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Tuesday, January 2nd. SunTrust Banks upped their price objective on shares of Ameris Bancorp from $10.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, January 29th. BidaskClub upgraded shares of Ameris Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday, January 31st. ValuEngine upgraded Ameris Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Sandler O’Neill set a $57.00 target price on Ameris Bancorp and gave the stock a “hold” rating in a report on Monday, January 29th.
In other Ameris Bancorp news, insider Edwin W. Hortman, Jr. sold 20,336 shares of the stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $56.41, for a total transaction of $1,147,153.76. Following the completion of the transaction, the insider now owns 246,961 shares in the company, valued at approximately $13,931,070.01. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Edwin W. Hortman, Jr. sold 10,000 shares of the stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $57.49, for a total value of $574,900.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,159 shares of company stock valued at $2,575,646. Corporate insiders own 3.63% of the company’s stock.
Shares of Ameris Bancorp (ABCB) opened at $57.40 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.98 and a quick ratio of 0.95. Ameris Bancorp has a 1 year low of $41.05 and a 1 year high of $59.05. The company has a market cap of $2,195.01, a price-to-earnings ratio of 28.84 and a beta of 1.21.
Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings data on Friday, January 26th. The bank reported $0.63 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.63. Ameris Bancorp had a net margin of 18.44% and a return on equity of 11.73%. The business had revenue of $89.90 million during the quarter, compared to analysts’ expectations of $96.28 million. During the same quarter in the prior year, the company earned $0.63 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. research analysts expect that Ameris Bancorp will post 3.49 earnings per share for the current year.
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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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