Ameris Bancorp (NASDAQ:ABCB) shares hit a new 52-week high on Tuesday . The stock traded as high as $51.33 and last traded at $50.40, with a volume of 251600 shares. The stock had previously closed at $50.40.

Several brokerages recently weighed in on ABCB. Zacks Investment Research raised shares of Ameris Bancorp from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a report on Tuesday. BidaskClub raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. Keefe, Bruyette & Woods raised shares of Ameris Bancorp from a “market perform” rating to an “outperform” rating in a report on Monday, November 20th. ValuEngine downgraded shares of Ameris Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Finally, Piper Jaffray Companies set a $50.00 target price on shares of Ameris Bancorp and gave the stock a “hold” rating in a report on Monday, October 23rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $53.00.

The stock has a market cap of $1,890.00, a P/E ratio of 22.73 and a beta of 1.20. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.07 and a quick ratio of 1.04.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings results on Thursday, October 19th. The bank reported $0.63 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.02). The company had revenue of $93.85 million during the quarter, compared to analysts’ expectations of $96.89 million. Ameris Bancorp had a return on equity of 12.12% and a net margin of 21.57%. research analysts forecast that Ameris Bancorp will post 2.48 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Friday, December 29th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.78%. The ex-dividend date was Thursday, December 28th. Ameris Bancorp’s payout ratio is currently 17.78%.

In other Ameris Bancorp news, insider James A. Lahaise sold 14,200 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $46.58, for a total value of $661,436.00. Following the sale, the insider now owns 73,986 shares in the company, valued at approximately $3,446,267.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.63% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Ameris Bancorp by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 2,588,877 shares of the bank’s stock valued at $124,784,000 after buying an additional 65,815 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Ameris Bancorp by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,559,197 shares of the bank’s stock valued at $75,154,000 after buying an additional 25,010 shares in the last quarter. State Street Corp raised its position in shares of Ameris Bancorp by 7.3% during the 2nd quarter. State Street Corp now owns 1,258,947 shares of the bank’s stock valued at $60,687,000 after buying an additional 85,137 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Ameris Bancorp by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,217,548 shares of the bank’s stock valued at $58,686,000 after buying an additional 20,713 shares in the last quarter. Finally, Maltese Capital Management LLC raised its position in shares of Ameris Bancorp by 4.0% during the 3rd quarter. Maltese Capital Management LLC now owns 581,101 shares of the bank’s stock valued at $27,893,000 after buying an additional 22,201 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Ameris Bancorp (ABCB) Hits New 1-Year High at $51.33” was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this report on another domain, it was illegally copied and republished in violation of U.S. & international trademark & copyright law. The legal version of this report can be read at https://www.thecerbatgem.com/2018/01/11/ameris-bancorp-abcb-hits-new-1-year-high-at-51-33.html.

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.

Receive News & Stock Ratings for Ameris Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameris Bancorp and related stocks with our FREE daily email newsletter.