Ameris Bancorp (NASDAQ:ABCB) Short Interest Down 8.9% in March

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) was the target of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 1,330,000 shares, a decrease of 8.9% from the March 15th total of 1,460,000 shares. Based on an average daily trading volume, of 393,700 shares, the days-to-cover ratio is presently 3.4 days. Currently, 2.0% of the company's stock are sold short.

Ameris Bancorp Price Performance

Ameris Bancorp stock traded down $0.11 during midday trading on Monday, reaching $45.05. 251,889 shares of the stock were exchanged, compared to its average volume of 394,722. The company's fifty day moving average is $46.82 and its 200-day moving average is $45.69. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.02 and a current ratio of 1.03. Ameris Bancorp has a 52 week low of $28.33 and a 52 week high of $53.99. The firm has a market cap of $3.11 billion, a PE ratio of 11.53 and a beta of 1.05.

Ameris Bancorp (NASDAQ:ABCB - Get Free Report) last released its quarterly earnings results on Thursday, January 25th. The bank reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.05). Ameris Bancorp had a net margin of 17.67% and a return on equity of 8.30%. The business had revenue of $262.35 million during the quarter, compared to analysts' expectations of $267.23 million. On average, sell-side analysts forecast that Ameris Bancorp will post 4.47 EPS for the current year.

Ameris Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 8th. Investors of record on Sunday, March 31st were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.60 annualized dividend and a yield of 1.33%. Ameris Bancorp's dividend payout ratio (DPR) is presently 15.38%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ABCB shares. Stephens reissued an "equal weight" rating and set a $53.00 target price on shares of Ameris Bancorp in a research report on Tuesday, January 30th. DA Davidson reaffirmed a "buy" rating on shares of Ameris Bancorp in a report on Monday, January 15th. Truist Financial dropped their price target on shares of Ameris Bancorp from $60.00 to $54.00 and set a "buy" rating on the stock in a research note on Monday, April 1st. Finally, StockNews.com downgraded Ameris Bancorp from a "hold" rating to a "sell" rating in a research report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Ameris Bancorp currently has an average rating of "Hold" and an average target price of $50.25.

Insider Buying and Selling

In other Ameris Bancorp news, insider Jon S. Edwards sold 7,500 shares of Ameris Bancorp stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $47.35, for a total transaction of $355,125.00. Following the transaction, the insider now owns 59,691 shares of the company's stock, valued at approximately $2,826,368.85. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new stake in Ameris Bancorp during the fourth quarter valued at about $31,000. Quantbot Technologies LP bought a new position in Ameris Bancorp during the 2nd quarter worth approximately $41,000. Federated Hermes Inc. increased its stake in Ameris Bancorp by 41.9% in the 3rd quarter. Federated Hermes Inc. now owns 1,269 shares of the bank's stock worth $57,000 after purchasing an additional 375 shares during the period. State of Wyoming lifted its position in Ameris Bancorp by 26.2% in the fourth quarter. State of Wyoming now owns 1,294 shares of the bank's stock valued at $61,000 after purchasing an additional 269 shares during the last quarter. Finally, Point72 Hong Kong Ltd boosted its stake in shares of Ameris Bancorp by 202.5% during the first quarter. Point72 Hong Kong Ltd now owns 2,211 shares of the bank's stock valued at $97,000 after purchasing an additional 1,480 shares during the period. 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.