Shares of Ameris Bancorp (NASDAQ:ABCB – Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $90.27 and last traded at $90.4020, with a volume of 9093 shares trading hands. The stock had previously closed at $89.32.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the stock. DA Davidson lifted their price objective on shares of Ameris Bancorp from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Stephens upped their target price on shares of Ameris Bancorp from $87.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, April 27th. Raymond James Financial reiterated an “outperform” rating and issued a $92.00 target price on shares of Ameris Bancorp in a research note on Monday, April 27th. Truist Financial raised their target price on shares of Ameris Bancorp from $85.00 to $89.00 and gave the company a “hold” rating in a research note on Monday, April 27th. Finally, Piper Sandler reiterated an “overweight” rating and set a $96.00 price target on shares of Ameris Bancorp in a report on Wednesday. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Ameris Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.17.
View Our Latest Analysis on Ameris Bancorp
Ameris Bancorp Trading Up 1.4%
Ameris Bancorp (NASDAQ:ABCB – Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. The firm had revenue of $314.36 million during the quarter, compared to analysts’ expectations of $309.58 million. During the same period in the previous year, the business posted $1.28 earnings per share. Analysts predict that Ameris Bancorp will post 4.99 earnings per share for the current year.
Ameris Bancorp Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.80 annualized dividend and a dividend yield of 0.9%. Ameris Bancorp’s payout ratio is presently 12.58%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC lifted its position in Ameris Bancorp by 24.6% during the first quarter. NewEdge Advisors LLC now owns 10,680 shares of the bank’s stock worth $833,000 after acquiring an additional 2,109 shares during the last quarter. Amundi grew its position in shares of Ameris Bancorp by 65.8% in the first quarter. Amundi now owns 17,067 shares of the bank’s stock valued at $1,331,000 after purchasing an additional 6,773 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of Ameris Bancorp by 21.8% during the first quarter. California State Teachers Retirement System now owns 75,346 shares of the bank’s stock worth $5,876,000 after purchasing an additional 13,486 shares during the period. Quantinno Capital Management LP increased its stake in shares of Ameris Bancorp by 148.5% during the first quarter. Quantinno Capital Management LP now owns 34,350 shares of the bank’s stock worth $2,679,000 after purchasing an additional 20,526 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in Ameris Bancorp during the 1st quarter worth approximately $1,809,000. Institutional investors and hedge funds own 91.60% of the company’s stock.
Ameris Bancorp Company Profile
Ameris Bancorp is a bank holding company headquartered in Atlanta, Georgia. Through its principal subsidiary, Ameris Bank, the company offers a broad range of commercial and retail banking services to individuals, small businesses, middle market companies and agricultural customers. Its core business lines encompass deposit services, lending solutions, treasury management, mortgage origination and servicing, insurance products and wealth management.
Ameris Bancorp operates a network of branches and loan production offices across the southeastern United States, including Georgia, Alabama, Florida, North Carolina, South Carolina and Tennessee.
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