KBW Reiterates Their Hold Rating on Ameris Bancorp

By Jason Carr

In a report released yesterday, Michael Perito from KBW reiterated a Hold rating on Ameris Bancorp (NASDAQ: ABCB), with a price target of $51. The company’s shares closed yesterday at $45.25.

According to TipRanks.com, Perito is a 5-star analyst with an average return of 23.7% and a 76.2% success rate. Perito covers the Financial sector, focusing on stocks such as Univest Corporation Of Pennsylvania, Enterprise Financial Services Corp, and Orrstown Financial Services Inc.

Ameris Bancorp has an analyst consensus of Moderate Buy, with a price target consensus of $52.67.

Based on Ameris Bancorp’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $92.76 million and quarterly net profit of $21.15 million. In comparison, last year the company earned revenue of $78.85 million and had a net profit of $12.32 million.

Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is neutral on the stock. Earlier this month, Edwin Hortman, the President & CEO of ABCB sold 14,578 shares for a total of $690,546.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Ameris Bancorp is a bank holding company, which through its subsidiary, Ameris Bank, engages in the provision of banking services to its retail and commercial customers. It operates through the following divisions: Banking, Retail Mortgage, Warehouse Lending, and the SBA. The Banking division offers full service financial services to include commercial loans, consumer loans and deposit accounts. The Mortgage includes origination, sales, and servicing of one-to-four family residential mortgage loans. The Warehouse Lending division includes the origination and servicing of warehouse lines to other businesses that are secured by underlying one-to-four family residential mortgage loans. The SBA comprises of origination, sales, and servicing of small business administration loans. The company was founded on December 18, 1980 and is headquartered in Moultrie, GA.