Ameris Bancorp’s (ABCB) “Buy” Rating Reiterated at Stephens
Ameris Bancorp (NASDAQ:ABCB)‘s stock had its “buy” rating reissued by Stephens in a report released on Friday.
Several other research analysts also recently weighed in on ABCB. Zacks Investment Research upgraded Ameris Bancorp from a “hold” rating to a “strong-buy” rating and set a $50.00 price target for the company in a research note on Tuesday, January 3rd. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $50.00 price target on shares of Ameris Bancorp in a research note on Wednesday, April 5th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $42.25.
Shares of Ameris Bancorp (NASDAQ:ABCB) opened at 45.75 on Friday. The firm’s 50-day moving average is $45.38 and its 200 day moving average is $43.28. Ameris Bancorp has a one year low of $27.92 and a one year high of $49.50. The firm has a market capitalization of $1.58 billion, a P/E ratio of 22.00 and a beta of 1.39.
Ameris Bancorp (NASDAQ:ABCB) last announced its earnings results on Friday, January 20th. The bank reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. Ameris Bancorp had a return on equity of 12.84% and a net margin of 20.91%. The firm earned $81.55 million during the quarter, compared to analyst estimates of $86.94 million. Equities research analysts predict that Ameris Bancorp will post $2.59 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 10th. Investors of record on Friday, March 31st were issued a dividend of $0.10 per share. The ex-dividend date was Wednesday, March 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.87%. Ameris Bancorp’s dividend payout ratio is 19.32%.
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Several institutional investors have recently made changes to their positions in the stock. 1492 Capital Management LLC boosted its position in shares of Ameris Bancorp by 20.1% in the third quarter. 1492 Capital Management LLC now owns 71,047 shares of the bank’s stock worth $2,483,000 after buying an additional 11,899 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Ameris Bancorp by 4.0% in the third quarter. Ameriprise Financial Inc. now owns 849,918 shares of the bank’s stock worth $29,704,000 after buying an additional 32,924 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Ameris Bancorp by 10.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 915,724 shares of the bank’s stock worth $32,005,000 after buying an additional 85,332 shares in the last quarter. 1832 Asset Management L.P. purchased a new position in shares of Ameris Bancorp during the third quarter worth $982,000. Finally, Comerica Bank boosted its position in shares of Ameris Bancorp by 12.1% in the fourth quarter. Comerica Bank now owns 71,998 shares of the bank’s stock worth $3,114,000 after buying an additional 7,751 shares in the last quarter. 82.37% of the stock is currently owned by institutional investors.
About Ameris Bancorp
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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