Ameris Bancorp (NASDAQ:ABCB) Sets New 12-Month High – Should You Buy?

Shares of Ameris Bancorp (NASDAQ:ABCB) hit a new 52-week high during trading on Thursday . The company traded as high as $92.65 and last traded at $92.4950, with a volume of 43324 shares traded. The stock had previously closed at $90.65.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Stephens increased their target price on Ameris Bancorp from $87.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, April 27th. Truist Financial lifted their price target on Ameris Bancorp from $89.00 to $92.00 and gave the stock a “hold” rating in a report on Friday, July 10th. DA Davidson upped their price objective on Ameris Bancorp from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Raymond James Financial downgraded Ameris Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 1st. Finally, Morgan Stanley raised Ameris Bancorp to an “overweight” rating in a research report on Wednesday, June 24th. Three equities 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, Ameris Bancorp has an average rating of “Hold” and a consensus target price of $92.67.

Ameris Bancorp Stock Down 1.1%

The business has a 50 day moving average of $87.18 and a 200-day moving average of $82.76. The stock has a market cap of $6.20 billion, a PE ratio of 17.69 and a beta of 0.91. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11.

Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. The company had revenue of $314.36 million during the quarter, compared to analysts’ expectations of $309.58 million. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.During the same quarter in the previous year, the business earned $1.28 earnings per share. Equities research analysts predict that Ameris Bancorp will post 4.99 EPS for the current fiscal year.

Ameris Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Tuesday, June 30th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Ameris Bancorp’s payout ratio is presently 12.58%.

Institutional Trading of Ameris Bancorp

Large investors have recently bought and sold shares of the business. Sound Income Strategies LLC acquired a new position in Ameris Bancorp in the fourth quarter valued at $29,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Ameris Bancorp in the third quarter valued at about $45,000. Danske Bank A S acquired a new stake in shares of Ameris Bancorp during the third quarter worth about $51,000. Torren Management LLC acquired a new stake in shares of Ameris Bancorp during the fourth quarter worth about $76,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Ameris Bancorp by 316.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,059 shares of the bank’s stock worth $79,000 after buying an additional 805 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

About Ameris Bancorp

Ameris Bancorp is a bank holding company headquartered in Atlanta, Georgia. Through its principal subsidiary, Ameris Bank, the company offers a broad range of commercial and retail banking services to individuals, small businesses, middle market companies and agricultural customers. Its core business lines encompass deposit services, lending solutions, treasury management, mortgage origination and servicing, insurance products and wealth management.

Ameris Bancorp operates a network of branches and loan production offices across the southeastern United States, including Georgia, Alabama, Florida, North Carolina, South Carolina and Tennessee.