BidaskClub upgraded shares of Ameris Bancorp (NASDAQ:ABCB) from a buy rating to a strong-buy rating in a research report report published on Friday, March 9th.
Several other equities analysts have also weighed in on ABCB. ValuEngine lowered shares of Ameris Bancorp from a buy rating to a hold rating in a research report on Thursday, November 9th. Keefe, Bruyette & Woods upgraded shares of Ameris Bancorp from a market perform rating to an outperform rating in a report on Monday, November 20th. Zacks Investment Research upgraded shares of Ameris Bancorp from a hold rating to a buy rating and set a $54.00 target price for the company in a report on Tuesday, January 2nd. SunTrust Banks raised their target price on shares of Ameris Bancorp from $10.00 to $65.00 and gave the stock a buy rating in a report on Monday, January 29th. Finally, Sandler O’Neill set a $57.00 target price on shares of Ameris Bancorp and gave the stock a hold rating in a report on Monday, January 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $55.33.
ABCB traded down $0.75 on Friday, reaching $52.15. The company had a trading volume of 175,003 shares, compared to its average volume of 235,016. The firm has a market capitalization of $2,022.92, a PE ratio of 21.03 and a beta of 1.21. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 0.42. Ameris Bancorp has a one year low of $41.05 and a one year high of $59.05.
Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings data on Friday, January 26th. The bank reported $0.63 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.63. Ameris Bancorp had a net margin of 18.44% and a return on equity of 11.73%. The company had revenue of $89.90 million during the quarter, compared to analyst estimates of $96.28 million. During the same quarter last year, the firm posted $0.63 EPS. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. equities analysts expect that Ameris Bancorp will post 3.49 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Investors of record on Friday, March 30th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.77%. The ex-dividend date is Wednesday, March 28th. Ameris Bancorp’s payout ratio is presently 16.13%.
In other news, CEO Edwin W. Hortman, Jr. sold 10,000 shares of Ameris Bancorp stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $53.58, for a total value of $535,800.00. Following the transaction, the chief executive officer now owns 256,961 shares of the company’s stock, valued at $13,767,970.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Dennis J. Zember, Jr. sold 5,000 shares of Ameris Bancorp stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $54.81, for a total transaction of $274,050.00. Following the completion of the transaction, the chief operating officer now directly owns 156,063 shares in the company, valued at approximately $8,553,813.03. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,159 shares of company stock worth $2,575,646. Insiders own 3.63% of the company’s stock.
Several institutional investors have recently made changes to their positions in ABCB. Bank of Montreal Can grew its stake in shares of Ameris Bancorp by 45.8% in the fourth quarter. Bank of Montreal Can now owns 3,188 shares of the bank’s stock worth $153,000 after acquiring an additional 1,002 shares during the last quarter. Aperio Group LLC acquired a new stake in shares of Ameris Bancorp in the third quarter worth $204,000. Elkfork Partners LLC acquired a new stake in shares of Ameris Bancorp in the fourth quarter worth $246,000. SG Americas Securities LLC acquired a new stake in shares of Ameris Bancorp in the third quarter worth $285,000. Finally, Flinton Capital Management LLC grew its stake in shares of Ameris Bancorp by 19.0% in the fourth quarter. Flinton Capital Management LLC now owns 6,188 shares of the bank’s stock worth $298,000 after acquiring an additional 986 shares during the last quarter. Institutional investors and hedge funds own 83.25% of the company’s stock.
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Ameris Bancorp Company Profile
Ameris Bancorp operates as the 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, Small Business Administration Division, and Premium Finance Division.
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