StockNews.com upgraded shares of Ameris Bancorp (NASDAQ:ABCB – Free Report) from a sell rating to a hold rating in a research note released on Thursday.
Several other equities analysts have also recently commented on ABCB. Stephens boosted their price target on shares of 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 lowered their target price on Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Keefe, Bruyette & Woods raised their price target on Ameris Bancorp from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Raymond James raised Ameris Bancorp from a “market perform” rating to an “outperform” rating and set a $67.00 price target for the company in a research note on Monday, October 28th. Finally, DA Davidson raised their price objective on shares of Ameris Bancorp from $61.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.67.
Read Our Latest Analysis on ABCB
Ameris Bancorp Stock Up 0.2 %
Ameris Bancorp (NASDAQ:ABCB – Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.13. Ameris Bancorp had a net margin of 20.08% and a return on equity of 9.18%. The business had revenue of $424.86 million during the quarter, compared to analyst estimates of $290.60 million. During the same period in the prior year, the firm earned $1.16 earnings per share. As a group, analysts expect that Ameris Bancorp will post 4.86 EPS for the current fiscal year.
Ameris Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Monday, September 30th. Ameris Bancorp’s dividend payout ratio is 12.50%.
Hedge Funds Weigh In On Ameris Bancorp
A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Ameris Bancorp by 1.2% in the first quarter. Vanguard Group Inc. now owns 7,560,371 shares of the bank’s stock worth $365,771,000 after purchasing an additional 92,491 shares during the period. Dimensional Fund Advisors LP increased its position in Ameris Bancorp by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,374,719 shares of the bank’s stock worth $220,263,000 after buying an additional 45,240 shares during the period. Independent Advisor Alliance lifted its holdings in shares of Ameris Bancorp by 0.8% during the second quarter. Independent Advisor Alliance now owns 2,533,580 shares of the bank’s stock worth $127,566,000 after buying an additional 19,287 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Ameris Bancorp by 4.6% in the third quarter. Principal Financial Group Inc. now owns 1,263,487 shares of the bank’s stock valued at $78,829,000 after acquiring an additional 55,473 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of Ameris Bancorp by 1.6% in the second quarter. Victory Capital Management Inc. now owns 851,240 shares of the bank’s stock worth $42,860,000 after acquiring an additional 13,418 shares during the last quarter. Institutional investors own 91.64% of the company’s stock.
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.
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