Keefe, Bruyette & Woods reissued their hold rating on shares of Ameris Bancorp (NASDAQ:ABCB) in a report published on Thursday morning. Keefe, Bruyette & Woods currently has a $52.00 price objective on the bank’s stock.
A number of other brokerages also recently issued reports on ABCB. Zacks Investment Research upgraded Ameris Bancorp from a sell rating to a hold rating in a research note on Thursday, October 12th. BidaskClub upgraded Ameris Bancorp from a sell rating to a hold rating in a research note on Friday, June 30th. Piper Jaffray Companies set a $48.00 price objective on Ameris Bancorp and gave the company a hold rating in a research note on Friday, October 6th. Finally, Stephens restated a buy rating and issued a $54.00 price objective on shares of Ameris Bancorp in a research note on Friday, July 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Ameris Bancorp has a consensus rating of Hold and an average price target of $52.25.
Shares of Ameris Bancorp (NASDAQ ABCB) traded down 1.95% during midday trading on Thursday, reaching $47.85. The company’s stock had a trading volume of 38,063 shares. Ameris Bancorp has a one year low of $35.15 and a one year high of $51.28. The stock has a market cap of $1.78 billion, a PE ratio of 20.55 and a beta of 1.29. The firm has a 50-day moving average of $47.15 and a 200-day moving average of $46.18.
Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings data on Thursday, October 19th. The bank reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). The business had revenue of $93.85 million during the quarter, compared to the consensus estimate of $96.89 million. Ameris Bancorp had a net margin of 21.57% and a return on equity of 12.12%. On average, analysts forecast that Ameris Bancorp will post $2.48 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.82%. Ameris Bancorp’s dividend payout ratio is presently 17.62%.
In other news, Director Leo J. Hill purchased 1,000 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were purchased at an average price of $42.75 per share, with a total value of $42,750.00. Following the transaction, the director now directly owns 16,629 shares of the company’s stock, valued at $710,889.75. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 3.63% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of ABCB. BlackRock Inc. lifted its position in shares of Ameris Bancorp by 83,097.4% during the 1st quarter. BlackRock Inc. now owns 4,668,206 shares of the bank’s stock valued at $215,205,000 after buying an additional 4,662,595 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Ameris Bancorp by 47.6% during the 1st quarter. Vanguard Group Inc. now owns 2,523,062 shares of the bank’s stock valued at $116,312,000 after buying an additional 813,184 shares during the last quarter. State Street Corp lifted its position in shares of Ameris Bancorp by 20.1% during the 1st quarter. State Street Corp now owns 1,173,810 shares of the bank’s stock valued at $54,115,000 after buying an additional 196,240 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in shares of Ameris Bancorp during the 2nd quarter valued at $8,570,000. Finally, Oak Ridge Investments LLC purchased a new position in shares of Ameris Bancorp during the 2nd quarter valued at $7,953,000. 82.66% of the stock is currently owned by hedge funds and other institutional investors.
Ameris Bancorp Company Profile
Ameris Bancorp is a financial holding company. The Company’s business is conducted through its banking subsidiary, Ameris Bank (the Bank), which provides a range of banking services to its retail and commercial customers. The Company operates through four segments: the Banking Division, the Retail Mortgage Division, the Warehouse Lending Division and the SBA Division.
What are top analysts saying about Ameris Bancorp? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Ameris Bancorp and related companies.