Ameris Bancorp (NASDAQ:ABCB) Upgraded at Zacks Investment Research
According to Zacks, “ABC Bancorp is a bank holding company. “
Other analysts have also issued research reports about the company. BidaskClub lowered Ameris Bancorp from a buy rating to a hold rating in a research note on Thursday, July 11th. Raymond James assumed coverage on Ameris Bancorp in a research note on Thursday, July 11th. They set an outperform rating and a $45.00 price objective for the company. Stephens reissued a buy rating and set a $52.00 price objective on shares of Ameris Bancorp in a research note on Monday, July 1st. Finally, TheStreet raised Ameris Bancorp from a c+ rating to a b- rating in a research note on Wednesday, June 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The company has a consensus rating of Buy and an average target price of $46.60.
Ameris Bancorp (NASDAQ:ABCB) last issued its earnings results on Friday, July 26th. The bank reported $0.96 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.96. The business had revenue of $136.90 million during the quarter, compared to analyst estimates of $139.72 million. Ameris Bancorp had a return on equity of 12.01% and a net margin of 26.23%. Ameris Bancorp’s revenue for the quarter was up 27.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 earnings per share. As a group, equities research analysts anticipate that Ameris Bancorp will post 3.83 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 28th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.05%. Ameris Bancorp’s dividend payout ratio is presently 11.83%.
In other Ameris Bancorp news, Director Elizabeth A. Mccague bought 800 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was bought at an average price of $37.50 per share, for a total transaction of $30,000.00. Following the completion of the acquisition, the director now directly owns 7,692 shares in the company, valued at $288,450. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in shares of Ameris Bancorp by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 473,221 shares of the bank’s stock valued at $14,986,000 after acquiring an additional 23,675 shares in the last quarter. State of Wisconsin Investment Board raised its holdings in shares of 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 acquiring an additional 87,600 shares in the last quarter. Stephens Investment Management Group LLC raised its holdings in shares of Ameris Bancorp by 2.3% during the second quarter. Stephens Investment Management Group LLC now owns 376,572 shares of the bank’s stock valued at $14,758,000 after acquiring an additional 8,537 shares in the last quarter. Norges Bank bought a new position in shares of Ameris Bancorp during the fourth quarter valued at approximately $10,009,000. Finally, Oak Ridge Investments LLC raised its holdings in shares of Ameris Bancorp by 50.3% during the first quarter. Oak Ridge Investments LLC now owns 301,279 shares of the bank’s stock valued at $10,349,000 after acquiring an additional 100,789 shares in the last quarter. Institutional investors own 87.28% of the company’s stock.
Ameris Bancorp Company Profile
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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