Ameris Bancorp (NASDAQ:ABCB)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $44.21 and last traded at $44.21, with a volume of 1143 shares. The stock had previously closed at $43.59.

ABCB has been the topic of several recent research reports. Raymond James increased their target price on Ameris Bancorp from $33.00 to $44.00 and gave the company a “strong-buy” rating in a research report on Friday, December 11th. They noted that the move was a valuation call. TheStreet raised Ameris Bancorp from a “c” rating to a “b-” rating in a research report on Tuesday, November 10th. ValuEngine raised Ameris Bancorp from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 1st. Stephens reaffirmed an “overweight” rating and set a $32.00 target price on shares of Ameris Bancorp in a research report on Monday, October 19th. Finally, Piper Sandler increased their target price on Ameris Bancorp from $28.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, October 26th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and three have issued a strong buy rating to the company. Ameris Bancorp has a consensus rating of “Buy” and an average target price of $35.00.

The firm has a fifty day moving average price of $38.08 and a 200 day moving average price of $28.72. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 1.05. The stock has a market cap of $3.06 billion, a PE ratio of 13.34 and a beta of 1.46.

Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings data on Thursday, October 22nd. The bank reported $1.69 EPS for the quarter, beating the consensus estimate of $0.89 by $0.80. Ameris Bancorp had a return on equity of 10.68% and a net margin of 20.24%. The firm had revenue of $321.56 million during the quarter, compared to analyst estimates of $219.51 million. During the same quarter in the prior year, the business posted $0.98 EPS. On average, equities research analysts forecast that Ameris Bancorp will post 4.03 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 11th. Stockholders of record on Thursday, December 31st were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, December 30th. This represents a $0.60 annualized dividend and a dividend yield of 1.36%. Ameris Bancorp’s dividend payout ratio is presently 15.79%.

In other news, Director William Millard Choate sold 8,000 shares of the stock in a transaction on Wednesday, December 16th. The stock was sold at an average price of $38.64, for a total transaction of $309,120.00. Following the completion of the sale, the director now owns 208,520 shares in the company, valued at approximately $8,057,212.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 5.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Sei Investments Co. raised its stake in Ameris Bancorp by 40.8% in the 3rd quarter. Sei Investments Co. now owns 46,662 shares of the bank’s stock worth $1,063,000 after acquiring an additional 13,514 shares during the last quarter. Chiron Capital Management LLC purchased a new position in Ameris Bancorp in the 3rd quarter worth $103,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Ameris Bancorp during the 3rd quarter valued at about $446,000. State of Tennessee Treasury Department raised its stake in shares of Ameris Bancorp by 19.7% during the 3rd quarter. State of Tennessee Treasury Department now owns 53,622 shares of the bank’s stock valued at $1,221,000 after buying an additional 8,817 shares during the last quarter. Finally, Penn Capital Management Co. Inc. raised its stake in shares of Ameris Bancorp by 11.7% during the 3rd quarter. Penn Capital Management Co. Inc. now owns 521,156 shares of the bank’s stock valued at $11,884,000 after buying an additional 54,737 shares during the last quarter. Institutional investors own 81.92% of the company’s stock.

Ameris Bancorp Company Profile (NASDAQ:ABCB)

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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