Ameris Bancorp (NASDAQ:ABCB) Receives “Equal Weight” Rating from Stephens

Stephens reiterated their equal weight rating on shares of Ameris Bancorp (NASDAQ:ABCB) in a report issued on Friday, Benzinga reports. They currently have a $53.00 price target on the bank’s stock.

A number of other equities analysts also recently weighed in on ABCB. StockNews.com downgraded shares of Ameris Bancorp from a hold rating to a sell rating in a research note on Thursday, March 21st. DA Davidson reaffirmed a buy rating on shares of Ameris Bancorp in a research note on Monday, January 15th. Finally, 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 note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of $50.25.

Ameris Bancorp Price Performance

Shares of NASDAQ ABCB opened at $47.88 on Friday. Ameris Bancorp has a 1 year low of $28.33 and a 1 year high of $53.99. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.03 and a quick ratio of 1.02. The company’s 50-day moving average is $46.58 and its 200 day moving average is $46.11. The stock has a market capitalization of $3.30 billion, a P/E ratio of 12.28 and a beta of 1.05.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings results on Friday, April 26th. The bank reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.04. Ameris Bancorp had a net margin of 17.67% and a return on equity of 8.30%. The company had revenue of $267.27 million for the quarter, compared to analysts’ expectations of $258.05 million. During the same quarter in the previous year, the company earned $0.86 earnings per share. Ameris Bancorp’s quarterly revenue was down .2% on a year-over-year basis. On average, sell-side analysts expect that Ameris Bancorp will post 4.47 earnings per share for the current year.

Ameris Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 8th. Stockholders of record on Sunday, March 31st were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Wednesday, March 27th. Ameris Bancorp’s payout ratio is 15.38%.

Insider Activity

In other news, insider Jon S. Edwards sold 7,500 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $47.35, for a total transaction of $355,125.00. Following the sale, the insider now owns 59,691 shares in the company, valued at $2,826,368.85. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Ameris Bancorp

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in shares of Ameris Bancorp during the fourth quarter valued at approximately $31,000. Journey Strategic Wealth LLC purchased a new stake in shares of Ameris Bancorp during the fourth quarter valued at approximately $203,000. Trexquant Investment LP purchased a new stake in shares of Ameris Bancorp during the fourth quarter valued at approximately $205,000. Xponance Inc. purchased a new stake in shares of Ameris Bancorp during the fourth quarter valued at approximately $211,000. Finally, Mackenzie Financial Corp purchased a new stake in Ameris Bancorp in the fourth quarter worth approximately $218,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Ameris Bancorp Company Profile

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.