StockNews.com Downgrades Ameris Bancorp (NASDAQ:ABCB) to Sell

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

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

Ameris Bancorp Trading Down 0.3 %

Shares of NASDAQ:ABCB traded down $0.17 during mid-day trading on Wednesday, hitting $62.72. The stock had a trading volume of 268,709 shares, compared to its average volume of 359,343. Ameris Bancorp has a 12-month low of $34.26 and a 12-month high of $66.51. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.03 and a current ratio of 1.05. The company has a market cap of $4.33 billion, a PE ratio of 15.26 and a beta of 1.01. The company’s 50 day moving average is $61.23 and its 200-day moving average is $54.48.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.03. Ameris Bancorp had a return on equity of 8.97% and a net margin of 19.28%. The firm had revenue of $436.03 million during the quarter, compared to the consensus estimate of $273.67 million. During the same period in the prior year, the business earned $0.91 EPS. On average, sell-side analysts predict that Ameris Bancorp will post 4.82 EPS for the current year.

Institutional Trading of Ameris Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the company. Jupiter Asset Management Ltd. bought a new position in shares of Ameris Bancorp during the 1st quarter worth approximately $3,869,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Ameris Bancorp by 75.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 416,557 shares of the bank’s stock valued at $20,153,000 after purchasing an additional 178,500 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Ameris Bancorp in the 1st quarter worth about $1,154,000. Seven Eight Capital LP increased its position in shares of Ameris Bancorp by 218.6% during the 1st quarter. Seven Eight Capital LP now owns 22,363 shares of the bank’s stock worth $1,082,000 after purchasing an additional 15,343 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Ameris Bancorp by 181.3% during the 1st quarter. BNP Paribas Financial Markets now owns 52,029 shares of the bank’s stock valued at $2,517,000 after purchasing an additional 33,531 shares during the last quarter. 91.64% of the stock is currently 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.