Sandler O’Neill downgraded shares of Ameris Bancorp (NASDAQ:ABCB) from a buy rating to a hold rating in a research report released on Tuesday morning. They currently have $38.00 price target on the stock, up from their previous price target of $36.00.
A number of other research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Ameris Bancorp from a buy rating to a hold rating in a research report on Wednesday, July 27th. Keefe, Bruyette & Woods increased 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 report on Monday, July 25th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $33.75.
Shares of Ameris Bancorp (NASDAQ:ABCB) traded down 0.75% during midday trading on Tuesday, hitting $34.30. The stock had a trading volume of 38,994 shares. The stock’s 50-day moving average price is $34.58 and its 200 day moving average price is $31.59. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 18.41 and a beta of 1.29. Ameris Bancorp has a 52 week low of $24.96 and a 52 week high of $36.20.
Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings data on Friday, July 22nd. The company reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.04. Ameris Bancorp had a net margin of 19.56% and a return on equity of 12.02%. On average, equities analysts forecast that Ameris Bancorp will post $2.12 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 11th. Investors of record on Friday, September 30th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This is an increase from Ameris Bancorp’s previous quarterly dividend of $0.05. This represents a $0.40 annualized dividend and a yield of 1.16%. Ameris Bancorp’s dividend payout ratio (DPR) is 10.81%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PineBridge Investments L.P. increased its position in Ameris Bancorp by 3.4% in the second quarter. PineBridge Investments L.P. now owns 3,514 shares of the company’s stock valued at $104,000 after buying an additional 116 shares during the period. BlackRock Inc. increased its position in Ameris Bancorp by 95.9% in the second quarter. BlackRock Inc. now owns 4,042 shares of the company’s stock valued at $121,000 after buying an additional 1,979 shares during the period. Legal & General Group Plc increased its position in Ameris Bancorp by 17.6% in the first quarter. Legal & General Group Plc now owns 4,734 shares of the company’s stock valued at $137,000 after buying an additional 709 shares during the period. Mason Street Advisors LLC acquired a new position in Ameris Bancorp during the second quarter valued at approximately $162,000. Finally, Commerce Bank acquired a new position in Ameris Bancorp during the second quarter valued at approximately $263,000. 80.12% of the stock is owned by institutional investors.
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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