Ameris Bancorp (ABCB) Reaches New 1-Year Low at $44.00

Ameris Bancorp (NASDAQ:ABCB)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $44.00 and last traded at $44.00, with a volume of 418549 shares. The stock had previously closed at $44.83.

ABCB has been the topic of a number of research analyst reports. BidaskClub lowered shares of Ameris Bancorp from a “strong-buy” rating to a “buy” rating in a report on Monday, June 18th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $61.00 target price on shares of Ameris Bancorp in a report on Friday, July 27th. Stephens reaffirmed a “buy” rating and set a $62.00 target price on shares of Ameris Bancorp in a report on Friday, July 27th. TheStreet lowered shares of Ameris Bancorp from a “b” rating to a “c+” rating in a report on Friday, August 17th. Finally, SunTrust Banks lowered shares of Ameris Bancorp from a “buy” rating to a “hold” rating and set a $60.00 target price on the stock. in a report on Tuesday, June 26th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $58.00.

The firm has a market cap of $2.17 billion, a P/E ratio of 17.43 and a beta of 1.13. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.03.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings results on Friday, July 27th. The bank reported $0.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.10). The firm had revenue of $107.31 million for the quarter, compared to analysts’ expectations of $108.92 million. Ameris Bancorp had a net margin of 15.07% and a return on equity of 10.84%. On average, equities analysts predict that Ameris Bancorp will post 3.32 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 10th. Shareholders of record on Friday, September 28th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, September 27th. This represents a $0.40 annualized dividend and a yield of 0.93%. Ameris Bancorp’s payout ratio is currently 16.13%.

In related news, Director Elizabeth A. Mccague bought 1,000 shares of the company’s stock in a transaction dated Friday, August 24th. The stock was purchased at an average cost of $50.05 per share, with a total value of $50,050.00. Following the transaction, the director now owns 5,226 shares in the company, valued at approximately $261,561.30. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Leo J. Hill bought 2,000 shares of the company’s stock in a transaction dated Thursday, August 2nd. The stock was bought at an average cost of $48.38 per share, with a total value of $96,760.00. Following the completion of the transaction, the director now owns 18,984 shares in the company, valued at approximately $918,445.92. The disclosure for this purchase can be found here. Corporate insiders own 3.07% of the company’s stock.

Large investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Ameris Bancorp in the 1st quarter worth about $124,000. SeaCrest Wealth Management LLC bought a new stake in Ameris Bancorp during the 2nd quarter valued at about $163,000. Kovack Advisors Inc. bought a new stake in Ameris Bancorp during the 1st quarter valued at about $203,000. LPL Financial LLC bought a new stake in Ameris Bancorp during the 1st quarter valued at about $279,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Ameris Bancorp during the 1st quarter valued at about $295,000. 78.39% of the stock is owned by hedge funds and other institutional investors.

About Ameris Bancorp (NASDAQ:ABCB)

Ameris Bancorp operates as the holding company for Ameris Bank that provides banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, and South Carolina. The company operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, Small Business Administration Division, and Premium Finance Division.

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