Ameris Bancorp (NASDAQ:ABCB) Upgraded at Zacks Investment Research

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Zacks Investment Research upgraded shares of Ameris Bancorp (NASDAQ:ABCB) from a sell rating to a hold rating in a report issued on Monday, Zacks.com reports.

According to Zacks, “ABC Bancorp is a bank holding company. “

ABCB has been the subject of several other research reports. Stephens set a $112.00 price target on Genesee & Wyoming and gave the stock a hold rating in a report on Monday, July 1st. BidaskClub upgraded Zillow Group from a buy rating to a strong-buy rating in a report on Tuesday, July 2nd. Finally, TheStreet downgraded VOXX International from a c- rating to a d rating in a report on Wednesday, June 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $49.71.

Shares of Ameris Bancorp stock opened at $38.60 on Monday. The stock’s fifty day moving average is $37.63. Ameris Bancorp has a 12-month low of $29.97 and a 12-month high of $52.85. The company has a market capitalization of $1.84 billion, a P/E ratio of 11.01 and a beta of 1.45. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.95.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.02). Ameris Bancorp had a return on equity of 11.24% and a net margin of 23.09%. The company had revenue of $130.20 million for the quarter, compared to the consensus estimate of $130.90 million. During the same quarter last year, the company posted $0.73 EPS. The company’s quarterly revenue was up 36.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Ameris Bancorp will post 3.92 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 28th were paid a $0.10 dividend. The ex-dividend date was Thursday, June 27th. This represents a $0.40 dividend on an annualized basis and a yield of 1.04%. Ameris Bancorp’s dividend payout ratio (DPR) is presently 11.83%.

In other Ameris Bancorp news, Director Elizabeth A. Mccague acquired 800 shares of Ameris Bancorp stock in a transaction on Tuesday, June 11th. The stock was purchased at an average price of $37.50 per share, for a total transaction of $30,000.00. Following the purchase, the director now directly owns 7,692 shares of the company’s stock, valued at $288,450. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.00% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the business. Versant Capital Management Inc grew its stake in Ameris Bancorp by 1,124.7% in the 1st quarter. Versant Capital Management Inc now owns 1,090 shares of the bank’s stock valued at $37,000 after purchasing an additional 1,001 shares during the period. Stephens Inc. AR lifted its position in shares of Ameris Bancorp by 28.6% during the 4th quarter. Stephens Inc. AR now owns 3,497 shares of the bank’s stock valued at $111,000 after buying an additional 777 shares during the last quarter. Advisor Group Inc. lifted its position in shares of Ameris Bancorp by 38.2% during the 4th quarter. Advisor Group Inc. now owns 3,886 shares of the bank’s stock valued at $123,000 after buying an additional 1,075 shares during the last quarter. Pearl River Capital LLC purchased a new position in shares of Ameris Bancorp during the 1st quarter valued at $148,000. Finally, Amalgamated Bank purchased a new position in shares of Ameris Bancorp during the 4th quarter valued at $204,000. Hedge funds and other institutional investors own 87.00% of the company’s stock.

Ameris Bancorp Company Profile

Ameris Bancorp operates as the bank 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, SBA Division, and Premium Finance Division.

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