Raymond James started coverage on shares of Ameris Bancorp (NASDAQ:ABCB) in a research note released on Thursday, Benzinga reports. The brokerage issued an outperform rating and a $45.00 price target on the bank’s stock.
A number of other equities analysts also recently weighed in on the stock. Stephens set a $112.00 price target on shares of Genesee & Wyoming and gave the stock a hold rating in a report on Monday, July 1st. BidaskClub downgraded shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a report on Thursday. Zacks Investment Research raised shares of Flagstar Bancorp from a hold rating to a buy rating and set a $38.00 price objective on the stock in a report on Monday, July 8th. Finally, TheStreet downgraded shares of VOXX International from a c- rating to a d rating in a report on Wednesday, June 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $49.71.
Shares of NASDAQ:ABCB opened at $38.95 on Thursday. The business has a 50-day moving average of $37.71. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.85 billion, a P/E ratio of 11.52 and a beta of 1.45. Ameris Bancorp has a fifty-two week low of $29.97 and a fifty-two week high of $52.47.
Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.90 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.02). The company had revenue of $130.20 million during the quarter, compared to analysts’ expectations of $130.90 million. Ameris Bancorp had a return on equity of 11.24% and a net margin of 23.09%. Ameris Bancorp’s quarterly revenue was up 36.6% compared to the same quarter last year. During the same period last year, the firm posted $0.73 earnings per share. As a group, analysts predict that Ameris Bancorp will post 3.92 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 28th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Thursday, June 27th. Ameris Bancorp’s dividend payout ratio (DPR) is presently 11.83%.
In other Ameris Bancorp news, Director Elizabeth A. Mccague acquired 800 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were acquired at an average cost of $37.50 per share, with a total value of $30,000.00. Following the completion of the acquisition, the director now directly owns 7,692 shares in the company, valued at $288,450. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.00% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hennessy Advisors Inc. purchased a new stake in shares of Ameris Bancorp during the second quarter valued at approximately $2,939,000. WCM Investment Management LLC purchased a new stake in Ameris Bancorp in the first quarter worth $895,000. State of Wisconsin Investment Board lifted its stake in Ameris Bancorp by 29.7% in the first quarter. State of Wisconsin Investment Board now owns 382,800 shares of the bank’s stock worth $13,149,000 after acquiring an additional 87,600 shares during the period. Pinnacle Associates Ltd. lifted its stake in Ameris Bancorp by 25.4% in the first quarter. Pinnacle Associates Ltd. now owns 18,000 shares of the bank’s stock worth $618,000 after acquiring an additional 3,650 shares during the period. Finally, JCSD Capital LLC lifted its stake in Ameris Bancorp by 23.4% in the first quarter. JCSD Capital LLC now owns 179,600 shares of the bank’s stock worth $6,169,000 after acquiring an additional 34,000 shares during the period. 87.00% of the stock is currently owned by institutional investors and hedge funds.
Ameris Bancorp Company Profile
Ameris Bancorp operates as the bank holding company for Ameris Bank that provides banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, and South Carolina. The company operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division.
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