Stephens Sticks to Their Buy Rating for Ameris Bancorp (ABCB)

By Ryan Adsit

Stephens analyst Tyler Stafford maintained a Buy rating on Ameris Bancorp (ABCBResearch Report) today and set a price target of $52. The company’s shares closed on Friday at $39.19.

Stafford observed:

“We maintain our Overweight rating and remain excited about the outlook for the combined companies.Stephens Inc. Page 2 APPENDIX A ANALYST CERTIFICATION The analyst primarily responsible for the preparation of the content of this report certifies that (i) all views expressed in this report accurately reflect the analyst’s personal views about the subject company and securities, and (ii) no part of the analyst’s compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed by the analyst in this report. REQUIRED DISCLOSURES The research analyst principally responsible for preparation of this report has received compensation that is based on the firm’s overall revenue which includes investment banking revenue. Stephens Inc.”

According to TipRanks.com, Stafford is a 4-star analyst with an average return of 5.0% and a 56.6% success rate. Stafford covers the Financial sector, focusing on stocks such as Capstar Financial Holdings Inc, Carolina Financial Corporation, and Amerant Bancorp Inc. Class A.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ameris Bancorp with a $49 average price target, representing a 25.0% upside. In a report issued on June 27, SunTrust Robinson also maintained a Buy rating on the stock with a $46 price target.

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Based on Ameris Bancorp’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $39.91 million. In comparison, last year the company had a net profit of $9.39 million.

Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ABCB in relation to earlier this year.

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 the subsidiary, Ameris Bank, engages in the provision of banking services to its retail and commercial customers. It operates through the following business segments: Banking, Retail Mortgage, Warehouse Lending, the SBA and Premium Finance.