Ameris Bancorp (NASDAQ:ABCB) Receives $67.00 Consensus PT from Brokerages

Shares of Ameris Bancorp (NASDAQ:ABCB) have been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $67.00.

A number of research analysts have recently issued reports on the company. Stephens lifted their price target on Ameris Bancorp from $52.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. DA Davidson lifted their price target on Ameris Bancorp from $61.00 to $76.00 and gave the company a “buy” rating in a report on Monday, July 29th. Truist Financial lifted their price target on Ameris Bancorp from $69.00 to $73.00 and gave the company a “buy” rating in a report on Friday, September 20th. Finally, Keefe, Bruyette & Woods lifted their price target on Ameris Bancorp from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, July 29th.

Ameris Bancorp Trading Up 1.7 %

Shares of NASDAQ ABCB opened at $63.95 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 0.30. The business has a fifty day simple moving average of $60.21 and a two-hundred day simple moving average of $53.74. The firm has a market cap of $4.42 billion, a PE ratio of 15.56 and a beta of 1.01. Ameris Bancorp has a twelve month low of $34.26 and a twelve month high of $65.40.

Ameris Bancorp (NASDAQ:ABCB) last issued its earnings results on Thursday, July 25th. The bank reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.03. The business had revenue of $436.03 million during the quarter, compared to analyst estimates of $273.67 million. Ameris Bancorp had a return on equity of 8.97% and a net margin of 19.28%. During the same period in the previous year, the company posted $0.91 EPS. Analysts expect that Ameris Bancorp will post 4.82 earnings per share for the current fiscal year.

Ameris Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, September 30th. This represents a $0.60 annualized dividend and a yield of 0.94%. Ameris Bancorp’s dividend payout ratio (DPR) is 14.60%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jupiter Asset Management Ltd. purchased a new position in Ameris Bancorp during the 1st quarter worth $3,869,000. Allspring Global Investments Holdings LLC raised its holdings in Ameris Bancorp by 75.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 416,557 shares of the bank’s stock worth $20,153,000 after purchasing an additional 178,500 shares during the period. Quantbot Technologies LP acquired a new position in Ameris Bancorp in the 1st quarter worth about $1,154,000. Congress Asset Management Co. MA raised its holdings in Ameris Bancorp by 5.5% in the 1st quarter. Congress Asset Management Co. MA now owns 767,156 shares of the bank’s stock worth $37,115,000 after purchasing an additional 40,323 shares during the period. Finally, Seven Eight Capital LP raised its holdings in Ameris Bancorp by 218.6% in the 1st quarter. Seven Eight Capital LP now owns 22,363 shares of the bank’s stock worth $1,082,000 after purchasing an additional 15,343 shares during the period. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

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.