Ameris Bancorp (NASDAQ:ABCB) Sees Large Volume Increase - Still a Buy?

Key Points

• Ameris Bancorp (NASDAQ: ABCB) experienced a substantial trading volume increase, with approximately 412,448 shares traded, slightly down from the previous session but still indicating strong interest.
• Wall Street analysts have generally rated Ameris Bancorp positively, with a consensus rating of "Moderate Buy" and an average price target of $72.14.
• The company announced a quarterly dividend of $0.20 per share, yielding 1.2%, demonstrating its commitment to returning value to shareholders.

Shares of Ameris Bancorp (NASDAQ:ABCB - Get Free Report) saw an uptick in trading volume on Tuesday . 412,448 shares were traded during mid-day trading, a decline of 4% from the previous session's volume of 429,456 shares.The stock last traded at $66.15 and had previously closed at $65.91.

Wall Street Analyst Weigh In

ABCB has been the topic of several analyst reports. Raymond James Financial reduced their price objective on Ameris Bancorp from $71.00 to $65.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Stephens reiterated an "equal weight" rating and issued a $63.00 target price on shares of Ameris Bancorp in a report on Tuesday, April 29th. Finally, DA Davidson set a $81.00 price target on Ameris Bancorp and gave the company a "buy" rating in a report on Wednesday, July 30th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $72.14.

Ameris Bancorp Stock Performance

The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The business has a 50 day moving average price of $64.97 and a 200 day moving average price of $61.77. The stock has a market cap of $4.62 billion, a P/E ratio of 12.88 and a beta of 0.96.

Ameris Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Monday, June 30th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Monday, June 30th. Ameris Bancorp's dividend payout ratio is 14.08%.

Institutional Trading of Ameris Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of ABCB. Captrust Financial Advisors grew its holdings in shares of Ameris Bancorp by 4.6% in the fourth quarter. Captrust Financial Advisors now owns 3,975 shares of the bank's stock worth $249,000 after purchasing an additional 175 shares during the last quarter. SageView Advisory Group LLC boosted its position in Ameris Bancorp by 2.5% in the 1st quarter. SageView Advisory Group LLC now owns 7,107 shares of the bank's stock valued at $409,000 after buying an additional 176 shares during the period. State of Wyoming grew its stake in Ameris Bancorp by 8.3% in the 1st quarter. State of Wyoming now owns 2,346 shares of the bank's stock worth $135,000 after acquiring an additional 179 shares in the last quarter. Verdence Capital Advisors LLC increased its position in shares of Ameris Bancorp by 1.9% during the second quarter. Verdence Capital Advisors LLC now owns 9,535 shares of the bank's stock worth $617,000 after acquiring an additional 181 shares during the period. Finally, Yousif Capital Management LLC raised its stake in shares of Ameris Bancorp by 0.8% during the second quarter. Yousif Capital Management LLC now owns 24,303 shares of the bank's stock valued at $1,572,000 after acquiring an additional 187 shares in the last quarter. Hedge funds and other institutional investors own 91.64% of the company's stock.

Ameris Bancorp Company Profile

Ameris Bancorp operates as the bank holding company for Ameris Bank that provides range of banking services to retail and commercial customers. It operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division. The company offers commercial and retail checking, regular interest-bearing savings, money market, individual retirement, and certificates of deposit accounts.