Other equities analysts also recently issued reports about the stock. TheStreet downgraded shares of VOXX International from a c- rating to a d rating in a research note on Wednesday, June 19th. Zacks Investment Research upgraded shares of Flagstar Bancorp from a hold rating to a buy rating and set a $38.00 price target on the stock in a research note on Monday, July 8th. Finally, Stephens set a $112.00 price target on shares of Genesee & Wyoming and gave the company a hold rating in a research note on Monday, July 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $49.71.
ABCB stock opened at $38.95 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.95. The company has a 50-day simple moving average of $37.71. Ameris Bancorp has a 52 week low of $29.97 and a 52 week high of $52.47. The firm has a market capitalization of $1.85 billion, a P/E ratio of 11.52 and a beta of 1.45.
Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.90 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.02). Ameris Bancorp had a net margin of 23.09% and a return on equity of 11.24%. The business had revenue of $130.20 million during the quarter, compared to analyst estimates of $130.90 million. During the same quarter last year, the company posted $0.73 earnings per share. The company’s revenue was up 36.6% on a year-over-year basis. On average, equities research analysts anticipate that Ameris Bancorp will post 3.92 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 28th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, June 27th. This represents a $0.40 annualized dividend and a yield of 1.03%. Ameris Bancorp’s dividend payout ratio is 11.83%.
In other news, Director Elizabeth A. Mccague acquired 800 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was acquired at an average price of $37.50 per share, with a total value of $30,000.00. Following the completion of the transaction, the director now directly owns 7,692 shares of the company’s stock, valued at approximately $288,450. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.00% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Hennessy Advisors Inc. acquired a new stake in shares of Ameris Bancorp during the 2nd quarter worth approximately $2,939,000. WCM Investment Management LLC acquired a new stake in shares of Ameris Bancorp during the 1st quarter worth approximately $895,000. State of Wisconsin Investment Board grew its position in shares of Ameris Bancorp by 29.7% during the 1st quarter. State of Wisconsin Investment Board now owns 382,800 shares of the bank’s stock worth $13,149,000 after buying an additional 87,600 shares during the period. Pinnacle Associates Ltd. grew its position in shares of Ameris Bancorp by 25.4% during the 1st quarter. Pinnacle Associates Ltd. now owns 18,000 shares of the bank’s stock worth $618,000 after buying an additional 3,650 shares during the period. Finally, JCSD Capital LLC grew its position in shares of Ameris Bancorp by 23.4% during the 1st quarter. JCSD Capital LLC now owns 179,600 shares of the bank’s stock worth $6,169,000 after buying an additional 34,000 shares during the period. 87.00% of the stock is owned by institutional investors and hedge funds.
About Ameris Bancorp
Ameris Bancorp operates as the bank 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, SBA Division, and Premium Finance Division.
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