Ameris Bancorp (NASDAQ:ABCB) Upgraded at Zacks Investment Research
According to Zacks, “ABC Bancorp is a bank holding company. “
Several other analysts have also recently weighed in on ABCB. TheStreet cut VOXX International from a c- rating to a d rating in a report on Wednesday, June 19th. Stephens set a $112.00 price target on Genesee & Wyoming and gave the company a hold rating in a report on Monday, July 1st. Finally, BidaskClub raised Zillow Group from a buy rating to a strong-buy rating in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $49.71.
Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). Ameris Bancorp had a net margin of 23.09% and a return on equity of 11.24%. The business had revenue of $130.20 million during the quarter, compared to analysts’ expectations of $130.90 million. During the same period in the previous year, the business earned $0.73 EPS. The business’s revenue was up 36.6% on a year-over-year basis. As a group, equities analysts expect that Ameris Bancorp will post 3.92 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Friday, June 28th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, June 27th. This represents a $0.40 annualized dividend and a dividend yield of 1.04%. Ameris Bancorp’s dividend payout ratio (DPR) is presently 11.83%.
In other news, Director Elizabeth A. Mccague acquired 800 shares of Ameris Bancorp stock in a transaction dated Tuesday, June 11th. The shares were purchased at an average cost of $37.50 per share, for a total transaction of $30,000.00. Following the transaction, the director now owns 7,692 shares of the company’s stock, valued at $288,450. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in ABCB. Hennessy Advisors Inc. purchased a new position in Ameris Bancorp during the second quarter valued at $2,939,000. WCM Investment Management LLC purchased a new position in Ameris Bancorp during the first quarter valued at $895,000. State of Wisconsin Investment Board raised its stake in Ameris Bancorp by 29.7% during the first quarter. State of Wisconsin Investment Board now owns 382,800 shares of the bank’s stock valued at $13,149,000 after buying an additional 87,600 shares during the last quarter. Pinnacle Associates Ltd. raised its stake in Ameris Bancorp by 25.4% during the first quarter. Pinnacle Associates Ltd. now owns 18,000 shares of the bank’s stock valued at $618,000 after buying an additional 3,650 shares during the last quarter. Finally, JCSD Capital LLC raised its stake in Ameris Bancorp by 23.4% during the first quarter. JCSD Capital LLC now owns 179,600 shares of the bank’s stock valued at $6,169,000 after buying an additional 34,000 shares during the last quarter. Hedge funds and other institutional investors own 87.00% of the company’s stock.
About Ameris Bancorp
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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