Ameris Bancorp (NASDAQ:ABCB) Stock Rating Lowered by StockNews.com

Ameris Bancorp (NASDAQ:ABCB) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

A number of other analysts have also recently issued reports on ABCB. Stephens boosted their price objective on Ameris Bancorp from $52.00 to $64.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods boosted their price target on shares of Ameris Bancorp from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Truist Financial raised their price objective on shares of Ameris Bancorp from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Finally, DA Davidson upped their target price on shares of Ameris Bancorp from $61.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $67.00.

Ameris Bancorp Price Performance

Shares of Ameris Bancorp stock opened at $63.03 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.05 and a quick ratio of 1.03. The company has a market cap of $4.36 billion, a PE ratio of 15.34 and a beta of 1.01. The firm has a fifty day moving average price of $61.48 and a two-hundred day moving average price of $54.59. Ameris Bancorp has a fifty-two week low of $34.26 and a fifty-two week high of $66.51.

Ameris Bancorp (NASDAQ:ABCB) last released its earnings results on Thursday, July 25th. The bank reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.03. Ameris Bancorp had a net margin of 19.28% and a return on equity of 8.97%. The business had revenue of $436.03 million during the quarter, compared to analysts’ expectations of $273.67 million. During the same quarter last year, the company earned $0.91 earnings per share. Analysts expect that Ameris Bancorp will post 4.82 EPS for the current year.

Hedge Funds Weigh In On Ameris Bancorp

Institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Ameris Bancorp by 2.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 12,503 shares of the bank’s stock worth $780,000 after purchasing an additional 258 shares during the last quarter. GAMMA Investing LLC grew its holdings in Ameris Bancorp by 38.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,130 shares of the bank’s stock worth $71,000 after acquiring an additional 311 shares during the last quarter. CWM LLC increased its position in Ameris Bancorp by 33.5% in the 2nd quarter. CWM LLC now owns 1,310 shares of the bank’s stock valued at $66,000 after acquiring an additional 329 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Ameris Bancorp by 1.8% in the second quarter. Arizona State Retirement System now owns 18,359 shares of the bank’s stock worth $924,000 after acquiring an additional 331 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Ameris Bancorp by 249.5% in the third quarter. Blue Trust Inc. now owns 713 shares of the bank’s stock worth $44,000 after acquiring an additional 509 shares during the last quarter. 91.64% of the stock is owned by institutional investors.

Ameris Bancorp Company Profile

Ameris Bancorp operates as the bank holding company for Ameris Bank that provides range of banking services to retail and commercial customers. It operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division. The company offers commercial and retail checking, regular interest-bearing savings, money market, individual retirement, and certificates of deposit accounts.