Ameris Bancorp (NASDAQ:ABCB) announced its earnings results on Monday. The company reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.02. Ameris Bancorp had a return on equity of 12.02% and a net margin of 19.56%.
Shares of Ameris Bancorp (NASDAQ:ABCB) opened at 35.75 on Wednesday. The firm has a market capitalization of $1.25 billion, a P/E ratio of 19.19 and a beta of 1.33. The stock has a 50 day moving average price of $35.34 and a 200 day moving average price of $32.27. Ameris Bancorp has a 52 week low of $24.96 and a 52 week high of $36.31.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 11th. Stockholders of record on Friday, September 30th were paid a $0.10 dividend. The ex-dividend date was 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 dividend yield of 1.12%. Ameris Bancorp’s dividend payout ratio (DPR) is currently 21.62%.
ABCB has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Ameris Bancorp from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Tuesday, July 26th. Sandler O’Neill downgraded Ameris Bancorp from a “buy” rating to a “hold” rating and increased their price target for the stock from $36.00 to $38.00 in a report on Tuesday, September 27th. Finally, Keefe, Bruyette & Woods increased their price target on Ameris Bancorp from $31.00 to $35.00 and gave the stock a “market perform” rating in a report on Monday, July 25th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $34.90.
A number of institutional investors have recently added to or reduced their stakes in ABCB. Maltese Capital Management LLC boosted its stake in shares of Ameris Bancorp by 8.8% in the second quarter. Maltese Capital Management LLC now owns 518,400 shares of the company’s stock worth $15,396,000 after buying an additional 42,061 shares during the period. Teachers Advisors Inc. boosted its stake in shares of Ameris Bancorp by 11.3% in the second quarter. Teachers Advisors Inc. now owns 77,263 shares of the company’s stock worth $2,295,000 after buying an additional 7,855 shares during the period. TIAA CREF Investment Management LLC boosted its stake in shares of Ameris Bancorp by 23.6% in the second quarter. TIAA CREF Investment Management LLC now owns 173,711 shares of the company’s stock worth $5,159,000 after buying an additional 33,173 shares during the period. American International Group Inc. boosted its stake in shares of Ameris Bancorp by 1.9% in the second quarter. American International Group Inc. now owns 24,297 shares of the company’s stock worth $722,000 after buying an additional 460 shares during the period. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Ameris Bancorp by 2.6% in the second quarter. Janney Montgomery Scott LLC now owns 44,361 shares of the company’s stock worth $1,508,000 after buying an additional 1,105 shares during the period. 80.03% of the stock is 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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