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

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) was upgraded by stock analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued to investors on Monday.

Other equities analysts have also issued research reports about the stock. Truist Financial decreased their target price on shares of Ameris Bancorp from $60.00 to $54.00 and set a "buy" rating for the company in a research report on Monday, April 1st. DA Davidson reiterated a "buy" rating on shares of Ameris Bancorp in a report on Monday, January 15th. Piper Sandler boosted their target price on Ameris Bancorp from $55.00 to $57.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Stephens reiterated an "equal weight" rating and set a $53.00 price target on shares of Ameris Bancorp in a research report on Friday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $52.00.

Ameris Bancorp Stock Performance

Shares of NASDAQ ABCB traded up $0.62 during midday trading on Monday, hitting $48.50. The company's stock had a trading volume of 421,219 shares, compared to its average volume of 381,355. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.02 and a current ratio of 1.04. Ameris Bancorp has a 1-year low of $28.33 and a 1-year high of $53.99. The firm's fifty day moving average price is $46.61 and its 200-day moving average price is $46.34. The firm has a market cap of $3.35 billion, a P/E ratio of 11.80 and a beta of 1.05.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last issued its quarterly earnings data on Friday, April 26th. The bank reported $1.10 EPS for the quarter, topping analysts' consensus estimates of $1.04 by $0.06. The firm had revenue of $267.27 million during the quarter, compared to the consensus estimate of $258.05 million. Ameris Bancorp had a return on equity of 8.62% and a net margin of 18.06%. The firm's revenue was down .2% on a year-over-year basis. During the same period in the prior year, the business earned $0.86 EPS. On average, sell-side analysts forecast that Ameris Bancorp will post 4.47 EPS for the current fiscal year.

Insider Buying and Selling at Ameris Bancorp

In other Ameris Bancorp news, insider Jon S. Edwards sold 7,500 shares of the company's stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $47.35, for a total value of $355,125.00. Following the transaction, the insider now owns 59,691 shares in the company, valued at approximately $2,826,368.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 5.60% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ABCB. GAMMA Investing LLC bought a new position in shares of Ameris Bancorp in the 4th quarter valued at approximately $31,000. Assetmark Inc. raised its position in shares of Ameris Bancorp by 11.1% in the third quarter. Assetmark Inc. now owns 4,565 shares of the bank's stock valued at $175,000 after purchasing an additional 456 shares during the period. Journey Strategic Wealth LLC acquired a new stake in shares of Ameris Bancorp in the fourth quarter worth $203,000. Trexquant Investment LP bought a new stake in shares of Ameris Bancorp during the 4th quarter worth $205,000. Finally, KLR Investment Advisors LLC bought a new stake in shares of Ameris Bancorp during the 3rd quarter worth $209,000. Institutional investors and hedge funds 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.

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