Ameris Bancorp (ABCB) Sets New 52-Week High at $53.40
Shares of Ameris Bancorp (NASDAQ:ABCB) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $53.40 and last traded at $53.40, with a volume of 183200 shares trading hands. The stock had previously closed at $52.55.
ABCB has been the topic of several research analyst reports. ValuEngine lowered Ameris Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. BidaskClub lowered Ameris Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Piper Jaffray Companies set a $48.00 price objective on Ameris Bancorp and gave the company a “hold” rating in a research note on Friday, October 6th. Stephens restated a “buy” rating and issued a $52.00 price objective on shares of Ameris Bancorp in a research note on Thursday, September 28th. Finally, Keefe, Bruyette & Woods upgraded Ameris Bancorp from a “market perform” rating to an “outperform” rating in a research note on Monday, November 20th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Ameris Bancorp has an average rating of “Buy” and an average price target of $53.00.
The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 1.11. The firm has a market cap of $1,990.00, a P/E ratio of 23.73 and a beta of 1.20.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Thursday, December 28th. Ameris Bancorp’s payout ratio is 17.78%.
In other news, insider James A. Lahaise sold 14,200 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $46.58, for a total value of $661,436.00. Following the transaction, the insider now owns 73,986 shares of the company’s stock, valued at $3,446,267.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.63% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Ameris Bancorp by 2.6% in the second quarter. Vanguard Group Inc. now owns 2,588,877 shares of the bank’s stock valued at $124,784,000 after purchasing an additional 65,815 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Ameris Bancorp by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,559,197 shares of the bank’s stock worth $75,154,000 after buying an additional 25,010 shares in the last quarter. State Street Corp grew its position in Ameris Bancorp by 7.3% during the second quarter. State Street Corp now owns 1,258,947 shares of the bank’s stock worth $60,687,000 after buying an additional 85,137 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Ameris Bancorp by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 1,217,548 shares of the bank’s stock worth $58,686,000 after buying an additional 20,713 shares in the last quarter. Finally, Maltese Capital Management LLC grew its position in Ameris Bancorp by 4.0% during the third quarter. Maltese Capital Management LLC now owns 581,101 shares of the bank’s stock worth $27,893,000 after buying an additional 22,201 shares in the last quarter. 81.98% of the stock is currently owned by 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.
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