Ameris Bancorp (NASDAQ:ABCB) Raised to Hold at StockNews.com

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

Other analysts have also issued research reports about the stock. Truist Financial cut their price objective on shares of Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday. Raymond James raised Ameris Bancorp from a “market perform” rating to an “outperform” rating and set a $67.00 price target on the stock in a research report on Monday. Stephens increased their price objective on Ameris Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a report on Monday. Keefe, Bruyette & Woods boosted their target price on shares of Ameris Bancorp from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Finally, DA Davidson increased their price target 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. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $66.67.

Ameris Bancorp Trading Up 1.2 %

NASDAQ ABCB opened at $63.01 on Thursday. Ameris Bancorp has a one year low of $36.81 and a one year high of $66.51. 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 firm has a market cap of $4.35 billion, a P/E ratio of 15.33 and a beta of 1.01. The stock’s 50-day moving average is $61.82 and its 200-day moving average is $55.11.

Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.13. The company had revenue of $424.86 million during the quarter, compared to the consensus estimate of $290.60 million. Ameris Bancorp had a net margin of 19.28% and a return on equity of 8.97%. During the same quarter in the prior year, the firm earned $1.16 earnings per share. Sell-side analysts anticipate that Ameris Bancorp will post 4.82 earnings per share for the current fiscal year.

Institutional Trading of Ameris Bancorp

Large investors have recently modified their holdings of the stock. 1620 Investment Advisors Inc. bought a new stake in Ameris Bancorp during the second quarter worth $33,000. Blue Trust Inc. boosted its stake in Ameris Bancorp by 249.5% in the third quarter. Blue Trust Inc. now owns 713 shares of the bank’s stock valued at $44,000 after buying an additional 509 shares in the last quarter. GAMMA Investing LLC boosted its stake in Ameris Bancorp by 66.1% in the second quarter. GAMMA Investing LLC now owns 819 shares of the bank’s stock valued at $41,000 after buying an additional 326 shares in the last quarter. CWM LLC grew its position in Ameris Bancorp by 33.5% in the second quarter. CWM LLC now owns 1,310 shares of the bank’s stock valued at $66,000 after acquiring an additional 329 shares during the last quarter. Finally, US Bancorp DE raised its stake in Ameris Bancorp by 3,396.4% during the third quarter. US Bancorp DE now owns 1,923 shares of the bank’s stock worth $120,000 after acquiring an additional 1,868 shares in the last quarter. 91.64% 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 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.