Ameris Bancorp (NASDAQ:ABCB – Get Rating) announced its quarterly results on Tuesday. The bank reported EPS of $1.17 for the quarter, beating the consensus estimate of $1.08 by $0.09, Briefing.com reports. Ameris Bancorp had a return on equity of 12.87% and a net margin of 35.27%. The company posted revenue of $259.50 million for the quarter, versus analyst estimates of $238.97 million. In the same quarter last year, the company posted earnings per share of $1.66. The company’s revenue for the quarter was down 8.3% year over year.
NASDAQ:ABCB traded at $2.73 midday Wednesday, hitting $42.45. 20,031 shares of the stock were traded, compared to its average volume of 494,174. The stock has a market capitalization of $2.96 billion, a PE ratio of 7.80 and a beta of 1.19 . Ameris Bancorp has a 12-month low of $39.67 and a 12-month high of $59.85. The company has a debt ratio of 0.29, a quick ratio of 1.01 and a current ratio of 1.07. The company has a 50-day moving average of $44.96 and a two-hundred-day moving average of $49.25.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 8. Investors of record on Thursday, March 31 received a dividend of $0.15 per share. The ex-dividend date was Wednesday, March 30. This represents an annualized dividend of $0.60 and a dividend yield of 1.41%. Ameris Bancorp’s dividend payout ratio (DPR) is currently 11.09%.
ABCB has been the subject of a number of research reports. Zacks Investment Research downgraded shares of Ameris Bancorp from a “buy” rating to a “hold” rating in a Wednesday, March 30 research report. StockNews.com began covering Ameris Bancorp shares in a research note on Thursday, March 31. They issued a “holding” rating for the company. Finally, Stephens raised his price target on Ameris Bancorp from $56.00 to $57.00 and gave the stock an “equal weight” rating in a Thursday, Dec. 30 report.
Several institutional investors have recently bought and sold shares of ABCB. EverSource Wealth Advisors LLC bought a new position in Ameris Bancorp stock in Q4 valued at around $29,000. The Public Employees Retirement System of Ohio increased its holdings of Ameris Bancorp stock by 42.0% in the fourth quarter. The Ohio Public Employees Retirement System now owns 1,109 shares of the bank worth $55,000 after buying 328 more shares in the last quarter. Marshall Wace LLP acquired a new equity stake in Ameris Bancorp during the fourth quarter valued at $1,458,000. Cubist Systematic Strategies LLC increased its holdings of Ameris Bancorp shares by 108.6% during the fourth quarter. Cubist Systematic Strategies LLC now owns 33,833 shares of the bank valued at $1,681,000 after purchasing an additional 17,616 shares in the last quarter. Finally, DE Shaw & Co. Inc. acquired a new position in shares of Ameris Bancorp in the 4th quarter at a value of $1,834,000. 88.47% of the shares are held by hedge funds and other institutional investors.
Ameris Bancorp Company Profile (Get a rating)
Ameris Bancorp operates as a bank holding company for Ameris Bank which provides a range of banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, North Carolina and South Carolina. The Company operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Loan Division, SBA Division and Premium Finance Division.
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