Short Interest in Ameris Bancorp (NASDAQ:ABCB) Expands By 9.1%

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

Ameris Bancorp Stock Performance

Shares of ABCB opened at $49.82 on Thursday. The company has a market capitalization of $3.44 billion, a PE ratio of 12.12 and a beta of 1.04. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.04 and a quick ratio of 1.02. Ameris Bancorp has a one year low of $33.21 and a one year high of $53.99. The company’s fifty day moving average price is $48.63 and its 200 day moving average price is $48.58.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings data on Friday, April 26th. The bank reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.06. Ameris Bancorp had a return on equity of 8.62% and a net margin of 18.06%. The business had revenue of $267.27 million for the quarter, compared to analyst estimates of $258.05 million. During the same period in the previous year, the company posted $0.86 earnings per share. The firm’s revenue for the quarter was down .2% on a year-over-year basis. As a group, analysts expect that Ameris Bancorp will post 4.58 earnings per share for the current year.

Ameris Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Sunday, June 30th will be given a $0.15 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.60 annualized dividend and a dividend yield of 1.20%. Ameris Bancorp’s dividend payout ratio is 14.60%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. 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. StockNews.com raised shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Stephens restated an “equal weight” rating and set a $53.00 target price on shares of Ameris Bancorp in a report on Friday, April 26th. Finally, Piper Sandler upped their price target on Ameris Bancorp from $55.00 to $57.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

Institutional Investors Weigh In On Ameris Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Ameris Bancorp by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 7,560,371 shares of the bank’s stock worth $365,771,000 after purchasing an additional 92,491 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Ameris Bancorp by 5.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,193,610 shares of the bank’s stock valued at $222,473,000 after buying an additional 205,750 shares during the period. American Century Companies Inc. raised its stake in shares of Ameris Bancorp by 3.7% in the 3rd quarter. American Century Companies Inc. now owns 2,547,134 shares of the bank’s stock valued at $97,784,000 after buying an additional 90,694 shares in the last quarter. Independent Advisor Alliance raised its stake in shares of Ameris Bancorp by 8.7% in the 4th quarter. Independent Advisor Alliance now owns 2,514,293 shares of the bank’s stock valued at $133,383,000 after buying an additional 201,644 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Ameris Bancorp by 3.0% during the 1st quarter. Principal Financial Group Inc. now owns 1,254,903 shares of the bank’s stock worth $60,712,000 after acquiring an additional 36,873 shares during the period. Institutional investors and hedge funds 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.