BidaskClub upgraded shares of Ameris Bancorp (NASDAQ:ABCB) from a sell rating to a hold rating in a research report released on Wednesday, December 20th.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research raised Ameris Bancorp from a sell rating to a hold rating in a report on Friday, September 15th. Piper Jaffray Companies set a $50.00 target price on Ameris Bancorp and gave the company a hold rating in a research note on Monday, October 23rd. Keefe, Bruyette & Woods reissued a hold rating and issued a $52.00 target price on shares of Ameris Bancorp in a research note on Thursday, October 26th. Stephens reissued a buy rating and issued a $52.00 target price on shares of Ameris Bancorp in a research note on Thursday, September 28th. Finally, ValuEngine cut Ameris Bancorp from a buy rating to a hold rating in a research note on Thursday, November 9th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $53.00.
Ameris Bancorp (NASDAQ:ABCB) traded up $0.85 during trading on Wednesday, hitting $53.40. The company had a trading volume of 183,215 shares, compared to its average volume of 287,822. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.07 and a quick ratio of 1.04. The company has a market cap of $1,980.00, a P/E ratio of 23.73 and a beta of 1.20. Ameris Bancorp has a 1-year low of $41.05 and a 1-year high of $53.45.
Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings results on Thursday, October 19th. The bank reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.02). Ameris Bancorp had a net margin of 21.57% and a return on equity of 12.12%. The business had revenue of $93.85 million for the quarter, compared to analyst estimates of $96.89 million. sell-side analysts anticipate that Ameris Bancorp will post 2.48 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Friday, December 29th were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, December 28th. This represents a $0.40 annualized dividend and a yield of 0.75%. Ameris Bancorp’s dividend payout ratio is presently 17.78%.
In other Ameris Bancorp news, insider James A. Lahaise sold 14,200 shares of Ameris Bancorp stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $46.58, for a total transaction of $661,436.00. Following the transaction, the insider now directly owns 73,986 shares in the company, valued at $3,446,267.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.63% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. lifted its holdings in shares of Ameris Bancorp by 8.4% in the second quarter. Ameritas Investment Partners Inc. now owns 3,188 shares of the bank’s stock valued at $154,000 after purchasing an additional 248 shares in the last quarter. Riverhead Capital Management LLC increased its position in shares of Ameris Bancorp by 119.8% in the second quarter. Riverhead Capital Management LLC now owns 3,297 shares of the bank’s stock valued at $159,000 after acquiring an additional 1,797 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Ameris Bancorp by 17.7% in the second quarter. Victory Capital Management Inc. now owns 4,125 shares of the bank’s stock valued at $199,000 after acquiring an additional 619 shares during the last quarter. Aperio Group LLC acquired a new stake in shares of Ameris Bancorp in the third quarter valued at about $204,000. Finally, Flinton Capital Management LLC increased its position in shares of Ameris Bancorp by 101.6% in the second quarter. Flinton Capital Management LLC now owns 4,250 shares of the bank’s stock valued at $205,000 after acquiring an additional 2,142 shares during the last quarter. Institutional investors own 81.98% of the company’s stock.
Ameris Bancorp Company Profile
Ameris Bancorp is a financial holding company. The Company’s business is conducted through its banking subsidiary, Ameris Bank (the Bank), which provides a range of banking services to its retail and commercial customers. The Company operates through four segments: the Banking Division, the Retail Mortgage Division, the Warehouse Lending Division and the SBA Division.
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