Other equities analysts have also recently issued research reports about the company. Stephens reissued a buy rating and set a $54.00 price objective on shares of Ameris Bancorp in a research report on Friday, July 21st. Zacks Investment Research raised Ameris Bancorp from a sell rating to a hold rating in a research report on Friday, September 15th. BidaskClub raised Ameris Bancorp from a sell rating to a hold rating in a research report on Friday, June 30th. Finally, Keefe, Bruyette & Woods reissued a hold rating and set a $51.00 price objective on shares of Ameris Bancorp in a research report on Monday, June 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Ameris Bancorp currently has an average rating of Hold and a consensus target price of $51.50.
Shares of Ameris Bancorp (NASDAQ ABCB) opened at 49.40 on Friday. The firm has a market cap of $1.84 billion, a PE ratio of 21.22 and a beta of 1.29. Ameris Bancorp has a 52 week low of $35.01 and a 52 week high of $51.28. The firm’s 50-day moving average is $44.88 and its 200 day moving average is $45.70.
Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings results on Friday, July 21st. The bank reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). Ameris Bancorp had a return on equity of 12.52% and a net margin of 22.66%. The company had revenue of $91.35 million during the quarter, compared to analyst estimates of $92.71 million. Equities research analysts forecast that Ameris Bancorp will post $2.54 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 29th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.40 annualized dividend and a dividend yield of 0.81%. Ameris Bancorp’s dividend payout ratio is presently 17.09%.
In other news, Director Leo J. Hill purchased 1,000 shares of the business’s stock in a transaction on Thursday, September 7th. The stock was purchased at an average price of $42.75 per share, with a total value of $42,750.00. Following the acquisition, the director now directly owns 16,629 shares in the company, valued at approximately $710,889.75. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.63% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in ABCB. Ameritas Investment Partners Inc. bought a new stake in shares of Ameris Bancorp in the 1st quarter valued at approximately $136,000. Riverhead Capital Management LLC grew its stake in shares of Ameris Bancorp by 119.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,297 shares of the bank’s stock valued at $159,000 after purchasing an additional 1,797 shares during the period. Victory Capital Management Inc. grew its stake in shares of Ameris Bancorp by 1.6% in the 1st quarter. Victory Capital Management Inc. now owns 3,506 shares of the bank’s stock valued at $162,000 after purchasing an additional 55 shares during the period. Flinton Capital Management LLC grew its stake in shares of Ameris Bancorp by 101.6% in the 2nd quarter. Flinton Capital Management LLC now owns 4,250 shares of the bank’s stock valued at $205,000 after purchasing an additional 2,142 shares during the period. Finally, Amalgamated Bank bought a new stake in shares of Ameris Bancorp in the 1st quarter valued at approximately $210,000. Institutional investors own 82.41% 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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