Ameris Bancorp (NASDAQ:ABCB) stock identified change of 39.31% away from 52-week low price and recently located move of -7.73% off 52-week high price. It has market worth of $2867.39M and dividend yield of 1.44%. ABCB stock has been recorded 10.28% away from 50 day moving average and 11.83% away from 200 day moving average. Moving closer, we can see that shares have been trading 4.80% off 20-day moving average.
On Oct.18, 2019, Ameris Bancorp (NASDAQ:ABCB) released net income of $21.4 million, or $0.31 per diluted share, for the quarter ended September 30, 2019, compared with $41.4 million, or $0.87 per diluted share, for the quarter ended September 30, 2018. The Company reported adjusted net income of $68.5 million, or $0.98 per diluted share, for the quarter ended September 30, 2019, compared with $43.3 million, or $0.91 per diluted share, for the same period in 2018. Adjusted net income excludes after-tax merger and conversion charges, executive retirement benefits, servicing right valuation adjustments, restructuring charges related to previously announced branch consolidations, gain on bank owned life insurance (BOLI) proceeds, loss on sale of bank premises and expenses related to hurricanes.
For the year-to-date period ending September 30, 2019, the Company reported net income of $100.2 million, or $1.83 per diluted share, compared with $77.5 million, or $1.85 per diluted share, for the same period in 2018. The Company reported adjusted net income of $156.3 million, or $2.85 per diluted share, for the nine months ended September 30, 2019, compared with $100.3 million, or $2.40 per diluted share, for the same period in 2018. Adjusted net income for the year-to-date period excludes the same items listed above for the Company’s quarter-to-date period.
Commenting on the Company’s results, Palmer Proctor, the Company’s Chief Executive Officer, said,Our third quarter results were solid. I am proud of our team’s focus on integration efforts while also executing the financial strategies as planned. Producing an adjusted ROA of 1.57% while working through the Fidelity integration is a direct reflection of our team’s hard work and dedication. These results give us confidence in our ability to make 2020 a success.
The Financial sector company, Ameris Bancorp noticed change of 0.65% to $41.75 along volume of 634017 shares in recent session compared to an average volume of 406.39K. The stock observed return of 4.66% in 5 days trading activity. The stock was at 6.64% over one month performance. ABCB’s shares are at 11.93% for the quarter and driving a -5.01% return over the course of the past year and is now at 31.83% since this point in 2018.
The average volatility for the week at 2.26% and for month was at 2.03%. There are 68.68M shares outstanding and 65.71M shares are floated in market. Right now the stock beta is 1.49.
Cheyenne Cox is a news report covering multiple Market and economy News. She is creative and highly professional writer. Cheyenne holds a degree in communication and journalism and has also a Diploma in digital marketing. She belongs to south Africa who has also lived in Europe and is currently based in the US.
