BidaskClub lowered shares of Ameris Bancorp (NASDAQ:ABCB) from a buy rating to a hold rating in a research report report published on Wednesday.
ABCB has been the subject of several other research reports. Zacks Investment Research upgraded shares of Ameris Bancorp from a sell rating to a hold rating in a report on Tuesday, April 3rd. SunTrust Banks boosted their price target 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. ValuEngine upgraded shares of Ameris Bancorp from a hold rating to a buy rating in a report on Thursday, March 1st. Finally, Sandler O’Neill set a $57.00 price target on shares of Ameris Bancorp and gave the stock a hold rating in a report on Monday, January 29th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $55.33.
Shares of ABCB opened at $51.85 on Wednesday. Ameris Bancorp has a fifty-two week low of $41.05 and a fifty-two week high of $59.05. The company has a market cap of $1,985.17, a P/E ratio of 20.91 and a beta of 1.21. The company has a current ratio of 0.98, a quick ratio of 0.95 and a debt-to-equity ratio of 0.42.
Ameris Bancorp (NASDAQ:ABCB) last announced its earnings results on Friday, January 26th. The bank reported $0.63 earnings per share for the quarter, hitting the consensus estimate of $0.63. Ameris Bancorp had a net margin of 18.44% and a return on equity of 11.73%. The firm had revenue of $89.90 million for the quarter, compared to the consensus estimate of $96.28 million. During the same period in the prior year, the firm earned $0.63 EPS. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. research analysts forecast that Ameris Bancorp will post 3.54 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 10th. Shareholders of record on Friday, March 30th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.77%. The ex-dividend date was Wednesday, March 28th. Ameris Bancorp’s dividend payout ratio (DPR) is presently 16.13%.
In other news, President Lawton E. Bassett III sold 823 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $53.15, for a total value of $43,742.45. Following the completion of the transaction, the president now owns 19,408 shares in the company, valued at approximately $1,031,535.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Edwin W. Hortman, Jr. sold 10,000 shares of the company’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $57.49, for a total transaction of $574,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 46,159 shares of company stock valued at $2,575,646 in the last quarter. 3.07% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. Bank of Montreal Can boosted its holdings in shares of Ameris Bancorp by 45.8% in the 4th quarter. Bank of Montreal Can now owns 3,188 shares of the bank’s stock valued at $153,000 after buying an additional 1,002 shares in the last quarter. Elkfork Partners LLC acquired a new position in shares of Ameris Bancorp in the 4th quarter valued at $246,000. Flinton Capital Management LLC boosted its holdings in shares of Ameris Bancorp by 19.0% in the 4th quarter. Flinton Capital Management LLC now owns 6,188 shares of the bank’s stock valued at $298,000 after buying an additional 986 shares in the last quarter. Virtus Fund Advisers LLC boosted its holdings in shares of Ameris Bancorp by 20.5% in the 4th quarter. Virtus Fund Advisers LLC now owns 6,334 shares of the bank’s stock valued at $306,000 after buying an additional 1,078 shares in the last quarter. Finally, Ellington Management Group LLC acquired a new position in shares of Ameris Bancorp in the 4th quarter valued at $337,000. Institutional investors and hedge funds own 83.09% 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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