Ameris Bancorp (NASDAQ:ABCB) Earns Outperform Rating from Analysts at Raymond James

Raymond James initiated coverage on shares of Ameris Bancorp (NASDAQ:ABCB) in a research note issued to investors on Thursday, Benzinga reports. The firm issued an outperform rating and a $45.00 price objective on the bank’s stock.

A number of other brokerages also recently issued reports on ABCB. BidaskClub downgraded shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a research report on Thursday. Stephens set a $112.00 price target on shares of Genesee & Wyoming and gave the stock a hold rating in a research report on Monday, July 1st. TheStreet downgraded shares of VOXX International from a c- rating to a d rating in a research report on Wednesday, June 19th. Finally, Zacks Investment Research upgraded shares of Flagstar Bancorp from a hold rating to a buy rating and set a $38.00 price target on the stock in a research report on Monday, July 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Ameris Bancorp has an average rating of Buy and an average target price of $49.71.

NASDAQ:ABCB opened at $38.95 on Thursday. The stock’s 50 day simple moving average is $37.71. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.16. Ameris Bancorp has a one year low of $29.97 and a one year high of $52.47. The firm has a market cap of $1.85 billion, a P/E ratio of 11.52 and a beta of 1.45.

Ameris Bancorp (NASDAQ:ABCB) last posted its earnings results on Tuesday, April 23rd. The bank reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). Ameris Bancorp had a return on equity of 11.24% and a net margin of 23.09%. The business had revenue of $130.20 million for the quarter, compared to analyst estimates of $130.90 million. During the same quarter in the prior year, the business earned $0.73 earnings per share. The firm’s quarterly revenue was up 36.6% on a year-over-year basis. On average, equities analysts predict that Ameris Bancorp will post 3.92 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Friday, June 28th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.03%. Ameris Bancorp’s dividend payout ratio (DPR) is currently 11.83%.

In related news, Director Elizabeth A. Mccague acquired 800 shares of the stock in a transaction dated Tuesday, June 11th. The stock was bought at an average price of $37.50 per share, for a total transaction of $30,000.00. Following the purchase, the director now directly owns 7,692 shares of the company’s stock, valued at approximately $288,450. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its stake in shares of Ameris Bancorp by 1,124.7% in the 1st quarter. Versant Capital Management Inc now owns 1,090 shares of the bank’s stock valued at $37,000 after acquiring an additional 1,001 shares in the last quarter. Stephens Inc. AR increased its stake in Ameris Bancorp by 28.6% during the 4th quarter. Stephens Inc. AR now owns 3,497 shares of the bank’s stock valued at $111,000 after purchasing an additional 777 shares in the last quarter. Advisor Group Inc. increased its stake in Ameris Bancorp by 38.2% during the 4th quarter. Advisor Group Inc. now owns 3,886 shares of the bank’s stock valued at $123,000 after purchasing an additional 1,075 shares in the last quarter. Pearl River Capital LLC bought a new stake in Ameris Bancorp during the 1st quarter valued at $148,000. Finally, Amalgamated Bank bought a new stake in Ameris Bancorp during the 4th quarter valued at $204,000. Institutional investors own 87.00% of the company’s stock.

About Ameris Bancorp

Ameris Bancorp operates as the bank 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, SBA Division, and Premium Finance Division.

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Analyst Recommendations for Ameris Bancorp (NASDAQ:ABCB)

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