Ameris Bancorp (NASDAQ:ABCB) Sets New 1-Year High – What’s Next?

Ameris Bancorp (NASDAQ:ABCB) reached a new 52-week high during trading on Thursday . The stock traded as high as $92.65 and last traded at $92.4950, with a volume of 43324 shares changing hands. The stock had previously closed at $90.65.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ABCB shares. Morgan Stanley upgraded shares of Ameris Bancorp to an “overweight” rating in a research report on Wednesday, June 24th. Stephens lifted their price objective on Ameris Bancorp from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, April 27th. Piper Sandler downgraded shares of Ameris Bancorp from an “overweight” rating to a “neutral” rating and set a $96.00 price target for the company. in a research note on Sunday. DA Davidson raised their price objective on Ameris Bancorp from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Truist Financial upped their price target on Ameris Bancorp from $89.00 to $92.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $92.67.

Ameris Bancorp Stock Performance

The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The company has a market cap of $6.25 billion, a P/E ratio of 17.83 and a beta of 0.91. The business’s 50 day simple moving average is $86.93 and its 200 day simple moving average is $82.57.

Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.The business had revenue of $314.36 million during the quarter, compared to analyst estimates of $309.58 million. During the same quarter in the prior year, the business posted $1.28 EPS. Sell-side analysts predict that Ameris Bancorp will post 4.99 earnings per share for the current fiscal year.

Ameris Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Tuesday, June 30th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Ameris Bancorp’s dividend payout ratio (DPR) is presently 12.58%.

Institutional Trading of Ameris Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sound Income Strategies LLC purchased a new stake in Ameris Bancorp in the fourth quarter worth $29,000. Measured Wealth Private Client Group LLC acquired a new stake in Ameris Bancorp during the 3rd quarter worth about $45,000. Danske Bank A S purchased a new stake in shares of Ameris Bancorp in the 3rd quarter valued at $51,000. Torren Management LLC purchased a new stake in shares of Ameris Bancorp in the fourth quarter worth about $76,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Ameris Bancorp by 316.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,059 shares of the bank’s stock worth $79,000 after buying an additional 805 shares during the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.

Ameris Bancorp Company Profile

Ameris Bancorp is a bank holding company headquartered in Atlanta, Georgia. Through its principal subsidiary, Ameris Bank, the company offers a broad range of commercial and retail banking services to individuals, small businesses, middle market companies and agricultural customers. Its core business lines encompass deposit services, lending solutions, treasury management, mortgage origination and servicing, insurance products and wealth management.

Ameris Bancorp operates a network of branches and loan production offices across the southeastern United States, including Georgia, Alabama, Florida, North Carolina, South Carolina and Tennessee.