Ameris Bancorp (NASDAQ:ABCB – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $88.20 and last traded at $88.3110, with a volume of 11642 shares trading hands. The stock had previously closed at $86.56.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on the stock. Truist Financial lifted their price target 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. Raymond James Financial reaffirmed an “outperform” rating and set a $92.00 price objective on shares of Ameris Bancorp in a report on Monday, April 27th. Stephens lifted their target price on shares of Ameris Bancorp from $87.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, April 27th. Finally, DA Davidson boosted their target price on shares of Ameris Bancorp from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Ameris Bancorp has an average rating of “Moderate Buy” and an average target price of $90.17.
Read Our Latest Analysis on ABCB
Ameris Bancorp Price Performance
Ameris Bancorp (NASDAQ:ABCB – Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.The company had revenue of $314.36 million for the quarter, compared to analyst estimates of $309.58 million. During the same quarter last year, the firm posted $1.28 EPS. Sell-side analysts predict that Ameris Bancorp will post 4.99 EPS for the current year.
Ameris Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, April 6th. Investors of record on Tuesday, March 31st were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, March 31st. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. Ameris Bancorp’s payout ratio is presently 12.58%.
Institutional Trading of Ameris Bancorp
A number of hedge funds have recently bought and sold shares of ABCB. JPMorgan Chase & Co. boosted its stake in Ameris Bancorp by 3.2% during the third quarter. JPMorgan Chase & Co. now owns 1,258,436 shares of the bank’s stock worth $92,256,000 after buying an additional 39,478 shares during the last quarter. North Reef Capital Management LP raised its holdings in shares of Ameris Bancorp by 4.8% during the 3rd quarter. North Reef Capital Management LP now owns 1,981,061 shares of the bank’s stock worth $145,232,000 after acquiring an additional 91,043 shares during the period. First Eagle Investment Management LLC boosted its position in shares of Ameris Bancorp by 8.3% during the 3rd quarter. First Eagle Investment Management LLC now owns 196,564 shares of the bank’s stock valued at $14,410,000 after acquiring an additional 15,006 shares during the last quarter. Artemis Investment Management LLP acquired a new position in shares of Ameris Bancorp during the 4th quarter valued at about $1,667,000. Finally, Congress Asset Management Co. increased its position in Ameris Bancorp by 2.8% during the fourth quarter. Congress Asset Management Co. now owns 996,786 shares of the bank’s stock worth $74,031,000 after purchasing an additional 27,106 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.
About Ameris Bancorp
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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