Ameris Bancorp (NASDAQ:ABCB) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Ameris Bancorp (NASDAQ:ABCB)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $82.19 and traded as high as $90.23. Ameris Bancorp shares last traded at $89.7870, with a volume of 348,156 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ABCB. Stephens upped their price target on Ameris Bancorp from $87.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, April 27th. Raymond James Financial downgraded shares of Ameris Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 1st. DA Davidson boosted their target price on shares of Ameris Bancorp from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Morgan Stanley raised shares of Ameris Bancorp to an “overweight” rating in a report on Wednesday, June 24th. Finally, Truist Financial raised their price target on shares of Ameris Bancorp from $85.00 to $89.00 and gave the stock a “hold” rating in a research report on Monday, April 27th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $92.17.

Ameris Bancorp Stock Up 1.9%

The firm’s fifty day moving average is $86.58 and its two-hundred day moving average is $82.19. The firm has a market cap of $6.04 billion, a price-to-earnings ratio of 17.23 and a beta of 0.91. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.The company had revenue of $314.36 million for the quarter, compared to the consensus estimate of $309.58 million. During the same quarter in the previous year, the business earned $1.28 EPS. On average, sell-side analysts expect that Ameris Bancorp will post 4.99 EPS for the current fiscal year.

Ameris Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Tuesday, June 30th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Ameris Bancorp’s dividend payout ratio (DPR) is 12.58%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Sound Income Strategies LLC purchased a new stake in Ameris Bancorp in the 4th quarter worth about $29,000. Measured Wealth Private Client Group LLC purchased a new position in Ameris Bancorp during the 3rd quarter valued at about $45,000. Danske Bank A S purchased a new position in Ameris Bancorp during the 3rd quarter valued at about $51,000. Torren Management LLC acquired a new position in shares of Ameris Bancorp in the 4th quarter valued at about $76,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of Ameris Bancorp by 316.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,059 shares of the bank’s stock valued at $79,000 after purchasing an additional 805 shares during the period. 91.60% of the stock is owned by institutional investors and hedge funds.

About Ameris Bancorp

Ameris Bancorp is a bank holding company headquartered in Atlanta, Georgia. Through its principal subsidiary, Ameris Bank, the company offers a broad range of commercial and retail banking services to individuals, small businesses, middle market companies and agricultural customers. Its core business lines encompass deposit services, lending solutions, treasury management, mortgage origination and servicing, insurance products and wealth management.

Ameris Bancorp operates a network of branches and loan production offices across the southeastern United States, including Georgia, Alabama, Florida, North Carolina, South Carolina and Tennessee.