Shares of Ameris Bancorp (NASDAQ:ABCB) have been assigned a consensus recommendation of “Buy” from the ten analysts that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating and seven have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $52.25.
Several equities analysts have recently issued reports on ABCB shares. BidaskClub lowered Ameris Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, March 15th. Zacks Investment Research upgraded Ameris Bancorp from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Tuesday, April 2nd. Finally, TheStreet upgraded Ameris Bancorp from a “c+” rating to a “b-” rating in a research report on Wednesday, June 19th.
NASDAQ:ABCB traded up $0.32 on Tuesday, hitting $39.36. 359,162 shares of the stock were exchanged, compared to its average volume of 678,863. The firm has a market capitalization of $1.87 billion, a PE ratio of 11.21 and a beta of 1.45. Ameris Bancorp has a 52 week low of $29.97 and a 52 week high of $54.15. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average of $37.30.
Ameris Bancorp (NASDAQ:ABCB) last posted its earnings results on Tuesday, April 23rd. The bank reported $0.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.02). The company had revenue of $130.20 million for the quarter, compared to analyst estimates of $130.90 million. Ameris Bancorp had a return on equity of 11.24% and a net margin of 23.09%. Ameris Bancorp’s quarterly revenue was up 36.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.73 earnings per share. Sell-side analysts predict that Ameris Bancorp will post 3.92 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 28th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $0.40 annualized dividend and a dividend yield of 1.02%. Ameris Bancorp’s dividend payout ratio is presently 11.83%.
In other Ameris Bancorp news, Director Elizabeth A. Mccague acquired 800 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was acquired at an average cost of $37.50 per share, for a total transaction of $30,000.00. Following the transaction, the director now owns 7,692 shares of the company’s stock, valued at $288,450. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Toronto Dominion Bank acquired a new position in shares of Ameris Bancorp in the 4th quarter valued at approximately $26,000. Versant Capital Management Inc grew its position in shares of Ameris Bancorp by 1,124.7% in the 1st quarter. Versant Capital Management Inc now owns 1,090 shares of the bank’s stock valued at $37,000 after purchasing an additional 1,001 shares during the period. Stephens Inc. AR grew its position in shares of Ameris Bancorp by 28.6% in the 4th quarter. Stephens Inc. AR now owns 3,497 shares of the bank’s stock valued at $111,000 after purchasing an additional 777 shares during the period. Advisor Group Inc. lifted its stake in Ameris Bancorp by 38.2% in the 4th quarter. Advisor Group Inc. now owns 3,886 shares of the bank’s stock valued at $123,000 after acquiring an additional 1,075 shares in the last quarter. Finally, Pearl River Capital LLC bought a new stake in Ameris Bancorp in the 1st quarter valued at approximately $148,000. Institutional investors and hedge funds own 87.00% of the company’s stock.
Ameris Bancorp Company Profile
Ameris Bancorp operates as the bank holding company for Ameris Bank that provides banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, and South Carolina. The company operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division.
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