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

Shares of Ameris Bancorp (NASDAQ:ABCB) hit a new 52-week high during trading on Monday . The stock traded as high as $74.37 and last traded at $73.87, with a volume of 25960 shares changing hands. The stock had previously closed at $71.79.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. StockNews.com upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Stephens upped their target price on Ameris Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. Truist Financial dropped their price target on Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Finally, Raymond James upgraded Ameris Bancorp from a “market perform” rating to an “outperform” rating and set a $67.00 price objective for the company in a research note on Monday, October 28th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Ameris Bancorp has an average rating of “Moderate Buy” and a consensus target price of $66.67.

Ameris Bancorp Price Performance

The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a market cap of $4.93 billion, a PE ratio of 14.87 and a beta of 1.01. The business has a 50-day moving average price of $64.59 and a 200 day moving average price of $57.77.

Ameris Bancorp (NASDAQ:ABCB) last issued its earnings results on Thursday, October 24th. The bank reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.13. The firm had revenue of $424.86 million during the quarter, compared to analyst estimates of $290.60 million. Ameris Bancorp had a net margin of 20.08% and a return on equity of 9.18%. During the same quarter last year, the business earned $1.16 earnings per share. As a group, research analysts forecast that Ameris Bancorp will post 4.83 earnings per share for the current fiscal year.

Ameris Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were paid a $0.15 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.60 dividend on an annualized basis and a yield of 0.84%. Ameris Bancorp’s dividend payout ratio is 12.50%.

Insider Buying and Selling at Ameris Bancorp

In other Ameris Bancorp news, Director Robert Dale Ezzell sold 8,000 shares of Ameris Bancorp stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $69.91, for a total transaction of $559,280.00. Following the completion of the transaction, the director now owns 27,444 shares of the company’s stock, valued at $1,918,610.04. The trade was a 22.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Ameris Bancorp

A number of large investors have recently modified their holdings of ABCB. CANADA LIFE ASSURANCE Co lifted its stake in Ameris Bancorp by 4.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 54,174 shares of the bank’s stock worth $2,616,000 after purchasing an additional 2,366 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Ameris Bancorp by 5.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 45,663 shares of the bank’s stock worth $2,210,000 after buying an additional 2,443 shares in the last quarter. Hancock Whitney Corp bought a new position in Ameris Bancorp in the 1st quarter worth about $466,000. Atria Investments Inc boosted its position in shares of Ameris Bancorp by 7.8% during the 1st quarter. Atria Investments Inc now owns 27,324 shares of the bank’s stock valued at $1,322,000 after acquiring an additional 1,982 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Ameris Bancorp by 66.1% during the second quarter. GAMMA Investing LLC now owns 819 shares of the bank’s stock worth $41,000 after purchasing an additional 326 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors.

Ameris Bancorp Company Profile

Ameris Bancorp operates as the bank holding company for Ameris Bank that provides range of banking services to retail and commercial customers. It operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division. The company offers commercial and retail checking, regular interest-bearing savings, money market, individual retirement, and certificates of deposit accounts.