Ameris Bancorp (NASDAQ:ABCB) Short Interest Update

Ameris Bancorp (NASDAQ:ABCB) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 1,460,000 shares, a growth of 5.8% from the February 29th total of 1,380,000 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 404,200 shares, the days-to-cover ratio is presently 3.6 days.

Ameris Bancorp Price Performance

Ameris Bancorp stock opened at $46.76 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average of $47.47 and a 200-day moving average of $45.21. Ameris Bancorp has a 1 year low of $28.33 and a 1 year high of $53.99. The firm has a market capitalization of $3.23 billion, a P/E ratio of 11.99 and a beta of 1.05.

Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.05). Ameris Bancorp had a net margin of 17.67% and a return on equity of 8.30%. The business had revenue of $262.35 million during the quarter, compared to analyst estimates of $267.23 million. On average, equities analysts anticipate that Ameris Bancorp will post 4.46 EPS for the current year.

Ameris Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 8th. Shareholders of record on Sunday, March 31st will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Wednesday, March 27th. Ameris Bancorp’s payout ratio is 15.38%.

Analyst Ratings Changes

ABCB has been the subject of several recent research reports. StockNews.com cut Ameris Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. Truist Financial decreased their target price on Ameris Bancorp from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Monday. Stephens restated an “equal weight” rating and set a $53.00 target price on shares of Ameris Bancorp in a research report on Tuesday, January 30th. Finally, DA Davidson restated a “buy” rating on shares of Ameris Bancorp in a research report on Monday, January 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $51.00.

Insider Activity at Ameris Bancorp

In other Ameris Bancorp news, insider Jon S. Edwards sold 7,500 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $47.35, for a total transaction of $355,125.00. Following the completion of the sale, the insider now directly owns 59,691 shares of the company’s stock, valued at approximately $2,826,368.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ameris Bancorp

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC bought a new stake in shares of Ameris Bancorp during the 4th quarter worth approximately $31,000. Quantbot Technologies LP bought a new stake in Ameris Bancorp in the 2nd quarter valued at $41,000. Federated Hermes Inc. raised its stake in Ameris Bancorp by 41.9% in the 3rd quarter. Federated Hermes Inc. now owns 1,269 shares of the bank’s stock valued at $57,000 after acquiring an additional 375 shares during the period. State of Wyoming raised its stake in Ameris Bancorp by 26.2% in the 4th quarter. State of Wyoming now owns 1,294 shares of the bank’s stock valued at $61,000 after acquiring an additional 269 shares during the period. Finally, Point72 Hong Kong Ltd grew its holdings in Ameris Bancorp by 202.5% in the 1st quarter. Point72 Hong Kong Ltd now owns 2,211 shares of the bank’s stock valued at $97,000 after buying an additional 1,480 shares in 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.