Several other research firms also recently issued reports on ABCB. BidaskClub downgraded Ameris Bancorp from a hold rating to a sell rating in a report on Wednesday, August 1st. Sandler O’Neill reiterated a hold rating and issued a $54.00 price objective on shares of Ameris Bancorp in a report on Monday, July 30th. Piper Jaffray Companies set a $54.00 price objective on Ameris Bancorp and gave the company a hold rating in a report on Monday, July 30th. Zacks Investment Research downgraded Ameris Bancorp from a hold rating to a sell rating in a report on Monday, June 25th. Finally, TheStreet cut Ameris Bancorp from a b rating to a c+ rating in a research note on Friday, August 17th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Ameris Bancorp currently has an average rating of Hold and an average target price of $58.00.
Shares of NASDAQ:ABCB traded down $0.78 during trading on Thursday, reaching $43.22. The stock had a trading volume of 639,481 shares, compared to its average volume of 290,743. Ameris Bancorp has a 1-year low of $41.86 and a 1-year high of $59.05. The firm has a market capitalization of $2.17 billion, a PE ratio of 17.43 and a beta of 1.13. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.03 and a quick ratio of 1.01.
Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings data on Friday, July 27th. The bank reported $0.74 EPS for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.10). Ameris Bancorp had a return on equity of 10.84% and a net margin of 15.07%. The company had revenue of $107.31 million for the quarter, compared to analysts’ expectations of $108.92 million. As a group, analysts expect that Ameris Bancorp will post 3.32 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 10th. Investors of record on Friday, September 28th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.40 annualized dividend and a yield of 0.93%. Ameris Bancorp’s payout ratio is 16.13%.
In other Ameris Bancorp news, Director Leo J. Hill acquired 2,000 shares of the stock in a transaction dated Thursday, August 2nd. The stock was acquired at an average cost of $48.38 per share, with a total value of $96,760.00. Following the transaction, the director now owns 18,984 shares in the company, valued at approximately $918,445.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Elizabeth A. Mccague bought 1,000 shares of Ameris Bancorp stock in a transaction dated Friday, August 24th. The stock was purchased at an average cost of $50.05 per share, with a total value of $50,050.00. Following the completion of the acquisition, the director now directly owns 5,226 shares in the company, valued at approximately $261,561.30. The disclosure for this purchase can be found here. Insiders own 3.07% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Northern Trust Corp lifted its holdings in shares of Ameris Bancorp by 12.1% in the 2nd quarter. Northern Trust Corp now owns 512,879 shares of the bank’s stock valued at $27,362,000 after purchasing an additional 55,212 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Ameris Bancorp by 1.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 804,157 shares of the bank’s stock valued at $42,901,000 after acquiring an additional 15,052 shares during the last quarter. California Public Employees Retirement System raised its stake in Ameris Bancorp by 69.0% during the 2nd quarter. California Public Employees Retirement System now owns 65,130 shares of the bank’s stock valued at $3,475,000 after acquiring an additional 26,595 shares during the last quarter. Bard Associates Inc. purchased a new stake in Ameris Bancorp during the 2nd quarter valued at approximately $963,000. Finally, MetLife Investment Advisors LLC raised its stake in Ameris Bancorp by 8.8% during the 2nd quarter. MetLife Investment Advisors LLC now owns 18,334 shares of the bank’s stock valued at $978,000 after acquiring an additional 1,479 shares during the last quarter. 78.39% of the stock is owned by institutional investors and hedge funds.
About Ameris Bancorp
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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