Ameris Bancorp (NASDAQ:ABCB) Downgraded by StockNews.com

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

Several other research analysts have also recently weighed in on ABCB. Truist Financial boosted their price objective on shares of Ameris Bancorp from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Stephens boosted their target price on Ameris Bancorp from $52.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. DA Davidson upped their price target 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, Keefe, Bruyette & Woods lifted their price objective on Ameris Bancorp from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Ameris Bancorp Price Performance

Shares of ABCB stock traded down $0.17 during trading hours on Wednesday, hitting $62.72. 268,709 shares of the company’s stock were exchanged, compared to its average volume of 359,343. Ameris Bancorp has a 52 week low of $34.26 and a 52 week high of $66.51. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of 15.26 and a beta of 1.01. 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 stock’s 50-day moving average is $61.23 and its 200-day moving average is $54.48.

Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.03. Ameris Bancorp had a net margin of 19.28% and a return on equity of 8.97%. The firm had revenue of $436.03 million for the quarter, compared to analyst estimates of $273.67 million. During the same quarter in the prior year, the firm earned $0.91 EPS. As a group, research analysts forecast that Ameris Bancorp will post 4.82 EPS for the current year.

Institutional Trading of Ameris Bancorp

A number of large investors have recently made changes to their positions in the company. E. Ohman J or Asset Management AB raised its holdings in Ameris Bancorp by 6.1% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 38,052 shares of the bank’s stock worth $2,374,000 after buying an additional 2,200 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in shares of Ameris Bancorp during the third quarter worth $233,000. Blue Trust Inc. lifted its position in Ameris Bancorp by 249.5% in the 3rd quarter. Blue Trust Inc. now owns 713 shares of the bank’s stock valued at $44,000 after acquiring an additional 509 shares in the last quarter. CWM LLC boosted its stake in Ameris Bancorp by 105.8% in the 3rd quarter. CWM LLC now owns 2,696 shares of the bank’s stock worth $168,000 after purchasing an additional 1,386 shares during the period. Finally, GAMMA Investing LLC increased 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 purchasing an additional 311 shares in the last quarter. Institutional investors own 91.64% of the company’s stock.

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.