Ameris Bancorp (ABCB) Upgraded to “Outperform” at FIG Partners

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Ameris Bancorp (NASDAQ:ABCB) was upgraded by analysts at FIG Partners from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, The Fly reports.

Other research analysts have also issued reports about the company. BidaskClub lowered Ameris Bancorp from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 1st. Zacks Investment Research lowered Ameris Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, September 6th. ValuEngine lowered Ameris Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Stephens reiterated a “buy” rating and issued a $60.00 price target on shares of Ameris Bancorp in a report on Thursday, September 20th. Finally, Piper Jaffray Companies upgraded Ameris Bancorp from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $49.50 to $48.00 in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $56.67.

Shares of ABCB opened at $32.16 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.99 and a current ratio of 1.01. The firm has a market capitalization of $1.48 billion, a P/E ratio of 12.97 and a beta of 1.12. Ameris Bancorp has a twelve month low of $30.72 and a twelve month high of $59.05.

Ameris Bancorp (NASDAQ:ABCB) last issued its earnings results on Friday, October 19th. The bank reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.01. The business had revenue of $129.21 million for the quarter, compared to analyst estimates of $135.44 million. Ameris Bancorp had a return on equity of 11.14% and a net margin of 17.99%. Equities research analysts expect that Ameris Bancorp will post 3.29 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlueMountain Capital Management LLC acquired a new stake in Ameris Bancorp in the 3rd quarter valued at $102,000. First Interstate Bank increased its holdings in Ameris Bancorp by 37.3% in the 3rd quarter. First Interstate Bank now owns 5,765 shares of the bank’s stock valued at $263,000 after purchasing an additional 1,565 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in Ameris Bancorp in the 3rd quarter valued at $263,000. Tower Research Capital LLC TRC acquired a new stake in Ameris Bancorp in the 2nd quarter valued at $295,000. Finally, Raymond James & Associates acquired a new stake in shares of Ameris Bancorp during the second quarter valued at about $298,000. Hedge funds and other institutional investors own 84.41% of the company’s stock.

Ameris Bancorp Company Profile

Ameris Bancorp operates as the 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, Small Business Administration Division, and Premium Finance Division.

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Analyst Recommendations for Ameris Bancorp (NASDAQ:ABCB)

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