Several other equities research analysts have also recently commented on the stock. Stephens set a $112.00 price target on shares of Genesee & Wyoming and gave the stock a hold rating in a research report on Monday, July 1st. TheStreet cut shares of VOXX International from a c- rating to a d rating in a report on Wednesday, June 19th. Finally, Zacks Investment Research upgraded shares of Flagstar Bancorp from a hold rating to a buy rating and set a $38.00 price objective for the company in a report on Monday, July 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $49.71.
Shares of NASDAQ:ABCB opened at $38.95 on Thursday. Ameris Bancorp has a one year low of $29.97 and a one year high of $52.47. The business’s 50 day simple moving average is $37.71. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.95 and a current ratio of 0.96. The firm has a market cap of $1.85 billion, a PE ratio of 11.52 and a beta of 1.45.
Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). Ameris Bancorp had a return on equity of 11.24% and a net margin of 23.09%. The business had revenue of $130.20 million for the quarter, compared to analyst estimates of $130.90 million. During the same quarter in the prior year, the firm earned $0.73 EPS. The firm’s quarterly revenue was up 36.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Ameris Bancorp will post 3.92 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 28th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Thursday, June 27th. Ameris Bancorp’s payout ratio is currently 11.83%.
In related news, Director Elizabeth A. Mccague purchased 800 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were purchased at an average price of $37.50 per share, with a total value of $30,000.00. Following the completion of the purchase, the director now owns 7,692 shares in the company, valued at approximately $288,450. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.00% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund lifted its stake in Ameris Bancorp by 1.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 15,453 shares of the bank’s stock valued at $531,000 after buying an additional 279 shares in the last quarter. Comerica Bank lifted its position in shares of Ameris Bancorp by 0.8% in the first quarter. Comerica Bank now owns 40,452 shares of the bank’s stock worth $1,419,000 after purchasing an additional 324 shares in the last quarter. Family Legacy Inc. lifted its position in shares of Ameris Bancorp by 2.5% in the first quarter. Family Legacy Inc. now owns 15,967 shares of the bank’s stock worth $576,000 after purchasing an additional 395 shares in the last quarter. Mason Street Advisors LLC lifted its position in shares of Ameris Bancorp by 3.4% in the first quarter. Mason Street Advisors LLC now owns 12,814 shares of the bank’s stock worth $440,000 after purchasing an additional 423 shares in the last quarter. Finally, Piedmont Investment Advisors Inc. lifted its position in shares of Ameris Bancorp by 6.4% in the first quarter. Piedmont Investment Advisors Inc. now owns 10,149 shares of the bank’s stock worth $349,000 after purchasing an additional 609 shares in the last quarter. 87.00% of the stock is currently owned by hedge funds and other institutional investors.
Ameris Bancorp Company Profile
Ameris Bancorp operates as the bank 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, SBA Division, and Premium Finance Division.
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