Ameris Bancorp (NASDAQ:ABCB) Sees Large Volume Increase - Time to 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.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 412,448 shares changed hands 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 subject of several analyst reports. Piper Sandler Companies increased their target price on shares of Ameris Bancorp to $74.00 and gave the company a "buy" rating in a report on Monday, April 7th. DA Davidson increased their target price on shares of Ameris Bancorp from $78.00 to $81.00 and gave the company a "buy" rating in a report on Wednesday, July 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, Raymond James Financial lowered their target price on shares of Ameris Bancorp from $71.00 to $65.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $72.14.

Ameris Bancorp Price Performance

The business's fifty day moving average is $64.58 and its 200-day moving average is $61.70. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. The firm has a market cap of $4.59 billion, a PE ratio of 12.78 and a beta of 0.96.

Ameris Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 7th. Investors of record on Monday, June 30th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Monday, June 30th. Ameris Bancorp's dividend payout ratio (DPR) is 14.08%.

Institutional Trading of Ameris Bancorp

A number of large investors have recently added to or reduced their stakes in ABCB. Farther Finance Advisors LLC increased its holdings in Ameris Bancorp by 73.2% during the second quarter. Farther Finance Advisors LLC now owns 492 shares of the bank's stock worth $32,000 after buying an additional 208 shares during the last quarter. Park Square Financial Group LLC purchased a new position in shares of Ameris Bancorp in the fourth quarter worth about $37,000. Versant Capital Management Inc increased its stake in shares of Ameris Bancorp by 84.1% in the first quarter. Versant Capital Management Inc now owns 731 shares of the bank's stock worth $42,000 after purchasing an additional 334 shares in the last quarter. Bayforest Capital Ltd purchased a new position in shares of Ameris Bancorp in the second quarter worth about $68,000. Finally, GAMMA Investing LLC increased its stake in shares of Ameris Bancorp by 52.5% in the second quarter. GAMMA Investing LLC now owns 1,777 shares of the bank's stock worth $115,000 after purchasing an additional 612 shares in the last quarter. Hedge funds and other institutional investors own 91.64% of the company's stock.

About Ameris Bancorp

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.

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