Ameris Bancorp (ABCB) Receives Consensus Rating of “Hold” from Brokerages
Shares of Ameris Bancorp (NASDAQ:ABCB) have been assigned an average rating of “Hold” from the eight research firms that are currently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $49.00.
A number of equities research analysts recently issued reports on the company. BidaskClub raised Ameris Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. SunTrust Banks, Inc. upgraded Ameris Bancorp from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Wednesday, April 26th. Zacks Investment Research upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Friday, April 28th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $51.00 price target on shares of Ameris Bancorp in a report on Monday, June 26th. Finally, Stephens restated a “buy” rating and set a $52.00 price objective on shares of Ameris Bancorp in a report on Friday, April 21st.
In other Ameris Bancorp news, CAO Cindi H. Lewis sold 3,200 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $46.00, for a total value of $147,200.00. Following the completion of the transaction, the chief accounting officer now directly owns 70,578 shares of the company’s stock, valued at approximately $3,246,588. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Dennis J. Zember, Jr. sold 15,000 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $47.38, for a total transaction of $710,700.00. Following the completion of the transaction, the chief operating officer now directly owns 148,727 shares of the company’s stock, valued at $7,046,685.26. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 1,860 shares of company stock valued at $84,541 and sold 78,474 shares valued at $3,691,854. 3.63% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its position in shares of Ameris Bancorp by 14.9% in the fourth quarter. State Street Corp now owns 977,570 shares of the bank’s stock valued at $42,621,000 after buying an additional 126,537 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Ameris Bancorp by 5.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,478,681 shares of the bank’s stock valued at $64,472,000 after buying an additional 72,117 shares during the last quarter. Royce & Associates LP bought a new position in shares of Ameris Bancorp during the fourth quarter valued at approximately $1,221,000. New York State Teachers Retirement System boosted its position in shares of Ameris Bancorp by 1.4% in the fourth quarter. New York State Teachers Retirement System now owns 14,898 shares of the bank’s stock valued at $650,000 after buying an additional 200 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of Ameris Bancorp during the fourth quarter valued at approximately $279,000. 84.00% of the stock is owned by institutional investors.
Ameris Bancorp (NASDAQ ABCB) traded down 0.51% during midday trading on Friday, hitting $48.65. The company had a trading volume of 8,451 shares. The stock’s 50-day moving average price is $45.88 and its 200-day moving average price is $45.69. The stock has a market cap of $1.74 billion, a PE ratio of 21.24 and a beta of 1.28. Ameris Bancorp has a 52-week low of $28.90 and a 52-week high of $49.80.
Ameris Bancorp (NASDAQ:ABCB) last posted its earnings results on Friday, April 21st. The bank reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Ameris Bancorp had a return on equity of 12.74% and a net margin of 22.56%. The firm had revenue of $86.30 million for the quarter, compared to analyst estimates of $86.84 million. On average, equities research analysts expect that Ameris Bancorp will post $2.60 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 10th. Investors of record on Friday, June 30th will be issued a $0.10 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $0.40 annualized dividend and a yield of 0.82%. Ameris Bancorp’s dividend payout ratio is currently 17.47%.
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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