Shares of Ameris Bancorp (NASDAQ:ABCB) have been given a consensus rating of “Buy” by the eight research firms that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $56.00.
Several brokerages have weighed in on ABCB. Sandler O’Neill set a $57.00 price objective on Ameris Bancorp and gave the stock a “hold” rating in a research note on Monday, January 29th. Piper Jaffray Companies set a $50.00 target price on Ameris Bancorp and gave the company a “hold” rating in a research note on Monday, October 23rd. BidaskClub raised Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Zacks Investment Research cut Ameris Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $52.00 target price on shares of Ameris Bancorp in a research note on Thursday, October 26th.
Shares of Ameris Bancorp (NASDAQ:ABCB) traded up $0.55 during midday trading on Friday, reaching $54.65. The company’s stock had a trading volume of 211,100 shares, compared to its average volume of 212,373. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 0.42. Ameris Bancorp has a 52 week low of $41.05 and a 52 week high of $56.85. The company has a market capitalization of $2,034.68, a PE ratio of 27.46 and a beta of 1.24.
In related news, COO Dennis J. Zember, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $54.81, for a total value of $274,050.00. Following the completion of the sale, the chief operating officer now owns 156,063 shares in the company, valued at $8,553,813.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Lawton E. Bassett III sold 823 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $53.15, for a total value of $43,742.45. Following the completion of the sale, the president now owns 19,408 shares of the company’s stock, valued at approximately $1,031,535.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,023 shares of company stock worth $979,228. Insiders own 3.63% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. boosted its holdings in shares of Ameris Bancorp by 8.4% in the second quarter. Ameritas Investment Partners Inc. now owns 3,188 shares of the bank’s stock valued at $154,000 after purchasing an additional 248 shares during the period. Bank of Montreal Can boosted its holdings in shares of Ameris Bancorp by 45.8% in the fourth quarter. Bank of Montreal Can now owns 3,188 shares of the bank’s stock valued at $153,000 after purchasing an additional 1,002 shares during the period. Aperio Group LLC purchased a new stake in shares of Ameris Bancorp in the third quarter valued at approximately $204,000. SG Americas Securities LLC purchased a new stake in shares of Ameris Bancorp in the third quarter valued at approximately $285,000. Finally, Flinton Capital Management LLC boosted its holdings in shares of Ameris Bancorp by 19.0% in the fourth quarter. Flinton Capital Management LLC now owns 6,188 shares of the bank’s stock valued at $298,000 after purchasing an additional 986 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.
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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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