Ameris Bancorp (NASDAQ:ABCB) Rating Increased to Hold at Zacks Investment Research

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Ameris Bancorp (NASDAQ:ABCB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday, Zacks.com reports.

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

Several other equities research analysts have also recently weighed in on the stock. ValuEngine raised shares of Ameris Bancorp from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 19th. Piper Jaffray Companies cut their price objective on shares of Ameris Bancorp from $47.00 to $46.00 and set an “overweight” rating for the company in a research report on Wednesday, September 25th. BidaskClub raised shares of Ameris Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday. Raymond James started coverage on shares of Ameris Bancorp in a research report on Thursday, July 11th. They set an “outperform” rating and a $45.00 price objective for the company. Finally, Stephens reaffirmed a “buy” rating and set a $52.00 price objective on shares of Ameris Bancorp in a research report on Monday, July 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $45.60.

Shares of Ameris Bancorp stock opened at $41.75 on Friday. The firm has a 50-day moving average of $38.53 and a 200-day moving average of $37.37. The stock has a market cap of $2.90 billion, a PE ratio of 12.35 and a beta of 1.51. Ameris Bancorp has a 52-week low of $29.97 and a 52-week high of $45.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.97 and a current ratio of 1.00.

Ameris Bancorp (NASDAQ:ABCB) last announced its earnings results on Friday, October 18th. The bank reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.03. The company had revenue of $225.80 million during the quarter, compared to analysts’ expectations of $213.84 million. Ameris Bancorp had a net margin of 26.23% and a return on equity of 12.01%. Ameris Bancorp’s quarterly revenue was up 74.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.91 earnings per share. Equities research analysts predict that Ameris Bancorp will post 3.78 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Truewealth LLC lifted its position in Ameris Bancorp by 678.8% during the third quarter. Truewealth LLC now owns 1,176 shares of the bank’s stock worth $47,000 after purchasing an additional 1,025 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Ameris Bancorp by 33.8% in the third quarter. Versant Capital Management Inc now owns 1,184 shares of the bank’s stock worth $47,000 after acquiring an additional 299 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Ameris Bancorp by 68.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,621 shares of the bank’s stock worth $64,000 after acquiring an additional 658 shares during the last quarter. AdvisorNet Financial Inc lifted its holdings in shares of Ameris Bancorp by 256.0% in the second quarter. AdvisorNet Financial Inc now owns 1,780 shares of the bank’s stock worth $70,000 after acquiring an additional 1,280 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Ameris Bancorp by 24.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,061 shares of the bank’s stock worth $120,000 after acquiring an additional 593 shares during the last quarter. 62.99% of the stock is owned by institutional investors and hedge funds.

About Ameris Bancorp

Ameris Bancorp operates as the bank 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, SBA Division, and Premium Finance Division.

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