According to Zacks, “ABC Bancorp is a bank holding company. “
Several other equities research analysts also recently weighed in on ABCB. Keefe, Bruyette & Woods upped their target price on Ameris Bancorp from $31.00 to $35.00 and gave the stock a market perform rating in a research report on Monday, July 25th. Sandler O’Neill downgraded Ameris Bancorp from a buy rating to a hold rating and upped their target price for the stock from $36.00 to $38.00 in a research report on Tuesday, September 27th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Ameris Bancorp currently has an average rating of Hold and a consensus target price of $34.90.
Ameris Bancorp (NASDAQ:ABCB) traded up 0.42% on Tuesday, reaching $35.90. The company’s stock had a trading volume of 3,245 shares. Ameris Bancorp has a 52 week low of $24.96 and a 52 week high of $36.31. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 19.27 and a beta of 1.33. The firm’s 50 day moving average price is $35.34 and its 200-day moving average price is $32.27.
Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings results on Monday, October 17th. The company reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.02. Ameris Bancorp had a return on equity of 12.64% and a net margin of 20.46%. On average, equities analysts predict that Ameris Bancorp will post $2.12 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 11th. Investors of record on Friday, September 30th were issued a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $0.40 dividend on an annualized basis and a yield of 1.12%. This is an increase from Ameris Bancorp’s previous quarterly dividend of $0.05. Ameris Bancorp’s dividend payout ratio is currently 20.20%.
A number of hedge funds and other institutional investors have recently modified their holdings of ABCB. PineBridge Investments L.P. increased its position in shares of Ameris Bancorp by 3.4% in the second quarter. PineBridge Investments L.P. now owns 3,514 shares of the company’s stock worth $104,000 after buying an additional 116 shares in the last quarter. BlackRock Inc. increased its position in shares of Ameris Bancorp by 95.9% in the second quarter. BlackRock Inc. now owns 4,042 shares of the company’s stock worth $121,000 after buying an additional 1,979 shares in the last quarter. Mason Street Advisors LLC acquired a new position in shares of Ameris Bancorp during the second quarter worth approximately $162,000. Commerce Bank acquired a new position in shares of Ameris Bancorp during the second quarter worth approximately $263,000. Finally, BNP Paribas Arbitrage SA increased its position in shares of Ameris Bancorp by 123.5% in the second quarter. BNP Paribas Arbitrage SA now owns 8,941 shares of the company’s stock worth $266,000 after buying an additional 4,940 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.
Ameris Bancorp Company Profile
Ameris Bancorp is a financial holding company. The Company’s business is conducted through its banking subsidiary, Ameris Bank (the Bank), which provides a range of banking services to its retail and commercial customers. The Company operates through four segments: the Banking Division, the Retail Mortgage Division, the Warehouse Lending Division and the SBA Division.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ameris Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameris Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.