Ameris Bancorp (NASDAQ:ABCB – Get Rating)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $44.29 and traded as high as $49.33. Ameris Bancorp shares last traded at $48.46, with a volume of 289,714 shares.
Analyst Ratings Changes
A number of brokerages recently issued reports on ABCB. Truist Financial lifted their price target on shares of Ameris Bancorp from $52.00 to $55.00 and gave the stock a "buy" rating in a research note on Wednesday, September 14th. Raymond James cut their price objective on shares of Ameris Bancorp from $50.00 to $48.00 and set an "outperform" rating on the stock in a report on Thursday, July 7th.
Get Ameris Bancorp alerts:Ameris Bancorp Trading Down 0.0 %
The company has a quick ratio of 1.00, a current ratio of 1.03 and a debt-to-equity ratio of 0.18. The business's fifty day simple moving average is $46.66 and its two-hundred day simple moving average is $44.29. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 10.05 and a beta of 1.18.
Ameris Bancorp (NASDAQ:ABCB – Get Rating) last released its quarterly earnings data on Tuesday, July 26th. The bank reported $1.30 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.11. Ameris Bancorp had a net margin of 31.45% and a return on equity of 10.78%. During the same quarter in the previous year, the company earned $1.25 EPS. On average, equities analysts predict that Ameris Bancorp will post 4.94 EPS for the current year.Ameris Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 10th. Stockholders of record on Friday, September 30th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.24%. Ameris Bancorp's payout ratio is 12.45%.
Hedge Funds Weigh In On Ameris Bancorp
A number of institutional investors have recently modified their holdings of the business. Wellington Management Group LLP increased its holdings in shares of Ameris Bancorp by 7.4% in the 1st quarter. Wellington Management Group LLP now owns 5,201,328 shares of the bank's stock valued at $228,235,000 after acquiring an additional 358,777 shares during the period. State Street Corp increased its holdings in shares of Ameris Bancorp by 14.3% in the 1st quarter. State Street Corp now owns 3,897,720 shares of the bank's stock valued at $171,622,000 after acquiring an additional 488,485 shares during the period. Dimensional Fund Advisors LP increased its stake in Ameris Bancorp by 5.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,160,720 shares of the bank's stock valued at $138,695,000 after buying an additional 162,160 shares during the period. American Century Companies Inc. increased its stake in Ameris Bancorp by 22.5% in the 1st quarter. American Century Companies Inc. now owns 2,155,800 shares of the bank's stock valued at $94,597,000 after buying an additional 396,045 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Ameris Bancorp by 16.4% in the 2nd quarter. Principal Financial Group Inc. now owns 2,084,654 shares of the bank's stock valued at $83,761,000 after buying an additional 293,289 shares during the period. 86.79% of the stock is owned by institutional investors and hedge funds.
Ameris Bancorp Company Profile
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Ameris Bancorp operates as the bank holding company for Ameris Bank that provides range of banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, North Carolina, 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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