Ameris Bancorp (ABCB) Issues Quarterly Earnings Results
Ameris Bancorp (NASDAQ:ABCB) posted its quarterly earnings data on Monday. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.59 by $0.02. Ameris Bancorp had a net margin of 19.56% and a return on equity of 12.02%.
Shares of Ameris Bancorp (NASDAQ:ABCB) opened at 35.78 on Monday. The company has a market capitalization of $1.25 billion, a P/E ratio of 19.21 and a beta of 1.33. The company has a 50 day moving average price of $35.24 and a 200 day moving average price of $32.14. Ameris Bancorp has a 12-month low of $24.96 and a 12-month high of $36.31.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 11th. Investors of record on Friday, September 30th were issued a $0.10 dividend. This is an increase from Ameris Bancorp’s previous quarterly dividend of $0.05. This represents a $0.40 annualized dividend and a dividend yield of 1.12%. The ex-dividend date was Wednesday, September 28th. Ameris Bancorp’s payout ratio is presently 21.62%.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System increased its position in Ameris Bancorp by 2.1% in the second quarter. Arizona State Retirement System now owns 14,500 shares of the company’s stock valued at $431,000 after buying an additional 300 shares in the last quarter. A.R.T. Advisors LLC purchased a new position in Ameris Bancorp during the second quarter valued at approximately $506,000. Parametric Portfolio Associates LLC increased its position in Ameris Bancorp by 12.7% in the second quarter. Parametric Portfolio Associates LLC now owns 11,969 shares of the company’s stock valued at $355,000 after buying an additional 1,351 shares in the last quarter. Stevens Capital Management LP increased its position in Ameris Bancorp by 178.6% in the second quarter. Stevens Capital Management LP now owns 20,514 shares of the company’s stock valued at $609,000 after buying an additional 13,152 shares in the last quarter. Finally, Maltese Capital Management LLC increased its position in Ameris Bancorp by 8.8% in the second quarter. Maltese Capital Management LLC now owns 518,400 shares of the company’s stock valued at $15,396,000 after buying an additional 42,061 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.
ABCB has been the subject of a number of recent analyst reports. Sandler O’Neill lowered shares of Ameris Bancorp from a “buy” rating to a “hold” rating and boosted their target price for the company from $36.00 to $38.00 in a research note on Tuesday, September 27th. Zacks Investment Research lowered shares of Ameris Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, June 24th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Ameris Bancorp from $31.00 to $35.00 and gave the company a “market perform” rating in a research note on Monday, July 25th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $34.30.
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.
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