Ameris Bancorp (ABCB) Sees Large Volume Increase
Shares of Ameris Bancorp (NASDAQ:ABCB) saw unusually-strong trading volume on Wednesday . Approximately 183,491 shares traded hands during mid-day trading, an increase of 18% from the previous session’s volume of 155,250 shares.The stock last traded at $33.63 and had previously closed at $33.04.
A number of analysts have recently commented on ABCB shares. Keefe, Bruyette & Woods boosted their price objective on Ameris Bancorp from $31.00 to $35.00 and gave the stock a “market perform” rating in a research note on Monday. Piper Jaffray Cos. lowered Ameris Bancorp from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $32.00 to $31.00 in a research report on Tuesday, April 26th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered Ameris Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, June 24th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $32.92.
The firm has a market cap of $1.17 billion and a PE ratio of 18.07. The firm’s 50-day moving average is $30.33 and its 200-day moving average is $29.53.
Ameris Bancorp (NASDAQ:ABCB) last released its quarterly earnings results on Friday, July 22nd. The company reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.04. On average, equities research analysts predict that Ameris Bancorp will post $2.12 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 11th. Investors of record on Thursday, June 30th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, June 28th. This represents a $0.20 dividend on an annualized basis and a yield of 0.59%.
A number of large investors have added to or reduced their stakes in the stock. Pear Tree Advisors Inc. acquired a new stake in Ameris Bancorp during the fourth quarter worth $4,001,000. Polaris Capital Management LLC boosted its stake in Ameris Bancorp by 10.4% in the fourth quarter. Polaris Capital Management LLC now owns 842,004 shares of the company’s stock worth $28,620,000 after buying an additional 79,601 shares in the last quarter. Boston Partners boosted its stake in Ameris Bancorp by 3.2% in the fourth quarter. Boston Partners now owns 83,814 shares of the company’s stock worth $2,849,000 after buying an additional 2,579 shares in the last quarter. State of Wisconsin Investment Board boosted its stake in Ameris Bancorp by 5.2% in the fourth quarter. State of Wisconsin Investment Board now owns 410,770 shares of the company’s stock worth $13,962,000 after buying an additional 20,218 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in Ameris Bancorp by 23.7% in the fourth quarter. Teacher Retirement System of Texas now owns 36,679 shares of the company’s stock worth $1,247,000 after buying an additional 7,016 shares in the last quarter.
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.
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