Ameris Bancorp (NASDAQ:ABCB) Short Interest Up 9.1% in June

Ameris Bancorp (NASDAQ:ABCB) saw a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 1,090,000 shares, a growth of 9.1% from the May 31st total of 999,500 shares. Based on an average trading volume of 291,800 shares, the days-to-cover ratio is currently 3.7 days. Approximately 1.7% of the company’s shares are sold short.

Ameris Bancorp Price Performance

Shares of ABCB opened at $50.33 on Tuesday. Ameris Bancorp has a fifty-two week low of $33.21 and a fifty-two week high of $53.99. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.02 and a current ratio of 1.04. The company has a market capitalization of $3.48 billion, a P/E ratio of 12.25 and a beta of 1.04. The business’s 50-day moving average is $48.54 and its two-hundred day moving average is $48.58.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings data on Friday, April 26th. The bank reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.06. Ameris Bancorp had a return on equity of 8.62% and a net margin of 18.06%. The company had revenue of $267.27 million for the quarter, compared to analysts’ expectations of $258.05 million. During the same period in the previous year, the firm posted $0.86 EPS. Ameris Bancorp’s revenue was down .2% compared to the same quarter last year. Research analysts predict that Ameris Bancorp will post 4.59 earnings per share for the current year.

Ameris Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Sunday, June 30th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Friday, June 28th. Ameris Bancorp’s dividend payout ratio (DPR) is 14.60%.

Analyst Ratings Changes

A number of research analysts have recently commented on ABCB shares. Stephens reaffirmed an “equal weight” rating and set a $53.00 target price on shares of Ameris Bancorp in a research note on Friday, April 26th. Piper Sandler upped their target price on Ameris Bancorp from $55.00 to $57.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. StockNews.com upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Finally, Truist Financial reduced their target price on Ameris Bancorp from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, April 1st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Ameris Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

Institutional Trading of Ameris Bancorp

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC acquired a new stake in Ameris Bancorp in the 4th quarter valued at approximately $31,000. SG Americas Securities LLC acquired a new position in Ameris Bancorp in the first quarter valued at $190,000. Journey Strategic Wealth LLC acquired a new position in Ameris Bancorp in the fourth quarter valued at $203,000. Trexquant Investment LP acquired a new position in Ameris Bancorp in the fourth quarter valued at $205,000. Finally, Xponance Inc. acquired a new position in Ameris Bancorp in the fourth quarter valued at $211,000. 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.