BidaskClub upgraded shares of Ameris Bancorp (NASDAQ:ABCB) from a sell rating to a hold rating in a report published on Wednesday, December 20th.
Several other analysts also recently weighed in on the company. Keefe, Bruyette & Woods upgraded Ameris Bancorp from a market perform rating to an outperform rating in a research note on Monday, November 20th. ValuEngine downgraded Ameris Bancorp from a buy rating to a hold rating in a research note on Thursday, November 9th. 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. Zacks Investment Research upgraded Ameris Bancorp from a sell rating to a hold rating in a research note on Thursday, October 12th. Finally, Stephens reiterated a buy rating and set a $52.00 target price on shares of Ameris Bancorp in a research note on Thursday, September 28th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $53.00.
Ameris Bancorp (ABCB) traded up $0.85 on Wednesday, reaching $53.40. The company’s stock had a trading volume of 183,215 shares, compared to its average volume of 247,788. Ameris Bancorp has a fifty-two week low of $41.05 and a fifty-two week high of $53.45. 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 $1,956.49, a price-to-earnings ratio of 23.52 and a beta of 1.20.
Ameris Bancorp (NASDAQ:ABCB) last posted its earnings results on Thursday, October 19th. 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 12.12% and a net margin of 21.57%. The firm had revenue of $93.85 million for the quarter, compared to analysts’ expectations of $96.89 million. analysts anticipate that Ameris Bancorp will post 2.48 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.40 annualized dividend and a dividend yield of 0.75%. Ameris Bancorp’s payout ratio is 17.62%.
In other news, insider James A. Lahaise sold 14,200 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $3,446,267.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.63% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP raised its holdings in Ameris Bancorp by 19.4% in the 3rd quarter. GSA Capital Partners LLP now owns 43,265 shares of the bank’s stock worth $2,077,000 after purchasing an additional 7,040 shares during the period. Maltese Capital Management LLC raised its holdings in Ameris Bancorp by 4.0% in the 3rd quarter. Maltese Capital Management LLC now owns 581,101 shares of the bank’s stock worth $27,893,000 after purchasing an additional 22,201 shares during the period. Castine Capital Management LLC raised its holdings in Ameris Bancorp by 8.9% in the 3rd quarter. Castine Capital Management LLC now owns 268,532 shares of the bank’s stock worth $12,890,000 after purchasing an additional 21,833 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in Ameris Bancorp by 13.5% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 178,983 shares of the bank’s stock worth $8,592,000 after purchasing an additional 21,235 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Ameris Bancorp by 169.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 139,584 shares of the bank’s stock worth $6,687,000 after purchasing an additional 87,876 shares during the period. 81.98% of the stock is currently owned by institutional investors.
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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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