Ameris Bancorp (NASDAQ:ABCB – Get Rating)'s share price crossed 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 trading hands.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on ABCB shares. Truist Financial increased their target price on shares of Ameris Bancorp from $52.00 to $55.00 and gave the company a "buy" rating in a research note on Wednesday, September 14th. Raymond James dropped their target price 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 Stock Performance
The company has a current ratio of 1.03, a quick ratio of 1.00 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $3.28 billion, a PE ratio of 9.82 and a beta of 1.18. The firm's fifty day moving average price is $46.83 and its two-hundred day moving average price is $44.31.
Ameris Bancorp (NASDAQ:ABCB – Get Rating) last released its quarterly earnings results on Tuesday, July 26th. The bank reported $1.30 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the company posted $1.25 EPS. As a group, equities research analysts forecast that Ameris Bancorp will post 4.94 EPS for the current year.Ameris Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 10th. Investors of record on Friday, September 30th will be issued a $0.15 dividend. The ex-dividend date is Thursday, September 29th. This represents a $0.60 annualized dividend and a yield of 1.27%. Ameris Bancorp's dividend payout ratio (DPR) is currently 12.45%.
Institutional Trading of Ameris Bancorp
A number of institutional investors and hedge funds have recently bought and sold shares of ABCB. Millennium Management LLC increased its stake in shares of Ameris Bancorp by 771.2% during the second quarter. Millennium Management LLC now owns 757,238 shares of the bank's stock worth $30,426,000 after buying an additional 670,323 shares during the period. State Street Corp boosted its holdings in shares of Ameris Bancorp by 14.3% in the first 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. American Century Companies Inc. boosted its holdings in shares of Ameris Bancorp by 22.5% in the first quarter. American Century Companies Inc. now owns 2,155,800 shares of the bank's stock valued at $94,597,000 after acquiring an additional 396,045 shares during the period. Wellington Management Group LLP raised its stake in shares of Ameris Bancorp by 7.4% during the first quarter. Wellington Management Group LLP now owns 5,201,328 shares of the bank's stock worth $228,235,000 after purchasing an additional 358,777 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Ameris Bancorp by 16.4% during the second quarter. Principal Financial Group Inc. now owns 2,084,654 shares of the bank's stock worth $83,761,000 after purchasing an additional 293,289 shares during the last quarter. 86.79% of the stock is currently owned by hedge funds and other institutional investors.
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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