Ameris Bancorp (ABCB) – Analysts’ Recent Ratings Changes

Ameris Bancorp (NASDAQ: ABCB) recently received a number of ratings updates from brokerages and research firms:

• 10/31/2024 – Ameris Bancorp was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 10/28/2024 – Ameris Bancorp was upgraded by analysts at Raymond James from a “market perform” rating to an “outperform” rating. They now have a $67.00 price target on the stock.
• 10/28/2024 – Ameris Bancorp had its price target raised by analysts at Stephens from $64.00 to $67.00. They now have an “equal weight” rating on the stock.
• 10/28/2024 – Ameris Bancorp had its price target lowered by analysts at Truist Financial Co. from $73.00 to $68.00. They now have a “buy” rating on the stock.
• 10/23/2024 – Ameris Bancorp was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 9/20/2024 – Ameris Bancorp had its price target raised by analysts at Truist Financial Co. from $69.00 to $73.00. They now have a “buy” rating on the stock.

Ameris Bancorp Price Performance

Shares of ABCB stock traded up $8.57 during trading on Wednesday, hitting $71.14. The company had a trading volume of 1,086,959 shares, compared to its average volume of 362,603. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.13. The stock’s 50-day moving average is $61.93 and its two-hundred day moving average is $55.65. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 14.82 and a beta of 1.01. Ameris Bancorp has a 52 week low of $38.71 and a 52 week high of $71.96.

Ameris Bancorp (NASDAQ:ABCB) last issued its earnings results on Thursday, October 24th. The bank reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.13. The business had revenue of $424.86 million during the quarter, compared to analyst estimates of $290.60 million. Ameris Bancorp had a return on equity of 9.18% and a net margin of 20.08%. During the same quarter in the prior year, the firm earned $1.16 earnings per share. As a group, analysts predict that Ameris Bancorp will post 4.84 EPS for the current fiscal year.

Ameris Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.84%. The ex-dividend date was Monday, September 30th. Ameris Bancorp’s dividend payout ratio is currently 12.50%.

Institutional Trading of Ameris Bancorp

A number of institutional investors have recently made changes to their positions in ABCB. Jupiter Asset Management Ltd. bought a new position in shares of Ameris Bancorp during the first quarter valued at approximately $3,869,000. Quantbot Technologies LP bought a new position in shares of Ameris Bancorp during the first quarter valued at $1,154,000. Seven Eight Capital LP increased its holdings in shares of Ameris Bancorp by 218.6% during the first quarter. Seven Eight Capital LP now owns 22,363 shares of the bank’s stock valued at $1,082,000 after acquiring an additional 15,343 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Ameris Bancorp by 181.3% during the first quarter. BNP Paribas Financial Markets now owns 52,029 shares of the bank’s stock valued at $2,517,000 after acquiring an additional 33,531 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in shares of Ameris Bancorp during the first quarter valued at $460,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Ameris Bancorp operates as the bank holding company for Ameris Bank that provides range of banking services to retail and commercial customers. It operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division. The company offers commercial and retail checking, regular interest-bearing savings, money market, individual retirement, and certificates of deposit accounts.