Ameris Bancorp (NYSE:ABCB) Stock Price Crosses Above 50 Day Moving Average – Should You Sell?

Shares of Ameris Bancorp (NYSE:ABCB) crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $82.16 and traded as high as $83.92. Ameris Bancorp shares last traded at $83.3540, with a volume of 496,951 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ABCB. Wall Street Zen upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, October 24th. DA Davidson cut their target price on Ameris Bancorp from $100.00 to $96.00 and set a “buy” rating for the company in a research note on Tuesday, October 27th. Weiss Ratings assumed coverage on Ameris Bancorp in a research report on Wednesday, September 2nd. They issued a “buy (b)” rating on the stock. Truist Financial upped their price target on Ameris Bancorp from $84.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, October 28th. Finally, Stephens set a $88.00 price target on Ameris Bancorp in a report on Monday, July 27th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $90.50.

Ameris Bancorp Trading Up 1.9%

The firm has a market capitalization of $5.59 billion, a price-to-earnings ratio of 14.57 and a beta of 0.99. The business’s 50-day simple moving average is $82.16 and its two-hundred day simple moving average is $83.76. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.26.

Ameris Bancorp (NYSE:ABCB) last released its quarterly earnings results on Thursday, October 22nd. The bank reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.05. Ameris Bancorp had a net margin of 22.47% and a return on equity of 10.81%. The business had revenue of $320.94 million for the quarter, compared to the consensus estimate of $326.72 million. During the same period in the previous year, the firm earned $1.54 EPS. The business’s revenue was up 2.4% on a year-over-year basis. Equities analysts forecast that Ameris Bancorp will post 6.63 earnings per share for the current year.

Ameris Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Wednesday, September 30th were given a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. Ameris Bancorp’s payout ratio is presently 13.99%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new position in Ameris Bancorp during the third quarter worth $27,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Ameris Bancorp in the second quarter valued at $34,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Ameris Bancorp in the 2nd quarter valued at $66,000. Allworth Financial LP purchased a new stake in shares of Ameris Bancorp in the 2nd quarter valued at $67,000. Finally, Heritage Family Offices LLP purchased a new stake in shares of Ameris Bancorp in the 3rd quarter valued at $62,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Ameris Bancorp Company Profile