Ameris Bancorp (ABCB) Hits New 1-Year High at $51.33
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.
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.
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 & 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 companies with MarketBeat.com's FREE daily email newsletter.