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

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

Shares of ABCB stock traded up $0.40 during trading on Thursday, hitting $39.00. 4,738 shares of the company were exchanged, compared to its average volume of 711,238. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.95. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 11.52 and a beta of 1.45. The business’s 50-day moving average is $37.63. Ameris Bancorp has a twelve month low of $29.97 and a twelve month high of $52.85.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly 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). The company had revenue of $130.20 million for the quarter, compared to analyst estimates of $130.90 million. Ameris Bancorp had a return on equity of 11.24% and a net margin of 23.09%. The business’s revenue for the quarter was up 36.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.73 earnings per share. On average, equities analysts predict that Ameris Bancorp will post 3.92 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 28th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Thursday, June 27th. Ameris Bancorp’s payout ratio is presently 11.83%.

In other Ameris Bancorp news, Director Elizabeth A. Mccague acquired 800 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were purchased at an average price of $37.50 per share, with a total value of $30,000.00. Following the completion of the transaction, the director now owns 7,692 shares in the company, valued at $288,450. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 2.00% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in shares of Ameris Bancorp by 6.5% in the fourth quarter. Bank of New York Mellon Corp now owns 831,035 shares of the bank’s stock valued at $26,318,000 after purchasing an additional 50,838 shares during the period. JPMorgan Chase & Co. increased its position in Ameris Bancorp by 179.3% during the first quarter. JPMorgan Chase & Co. now owns 269,062 shares of the bank’s stock worth $9,242,000 after acquiring an additional 172,723 shares during the period. Stephens Inc. AR increased its position in Ameris Bancorp by 28.6% during the fourth quarter. Stephens Inc. AR now owns 3,497 shares of the bank’s stock worth $111,000 after acquiring an additional 777 shares during the period. Thrivent Financial for Lutherans increased its position in Ameris Bancorp by 0.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 132,864 shares of the bank’s stock worth $4,208,000 after acquiring an additional 1,012 shares during the period. Finally, Stevens Capital Management LP bought a new position in Ameris Bancorp during the first quarter worth $750,000. 87.00% of the stock is currently owned by institutional investors.

Ameris Bancorp Company Profile

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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