Ameris Bancorp (NASDAQ:ABCB) Given New $67.00 Price Target at Stephens

Ameris Bancorp (NASDAQ:ABCB) had its price target raised by Stephens from $64.00 to $67.00 in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the bank’s stock.

Other research analysts have also issued reports about the company. Keefe, Bruyette & Woods increased their price objective on Ameris Bancorp from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. StockNews.com cut Ameris Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, October 23rd. Raymond James raised Ameris Bancorp from a “market perform” rating to an “outperform” rating and set a $67.00 price objective for the company in a report on Monday. DA Davidson raised their target price on shares of Ameris Bancorp from $61.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Truist Financial dropped their price target on shares of Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating for the company in a research note on Monday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Ameris Bancorp presently has an average rating of “Moderate Buy” and an average target price of $66.67.

Ameris Bancorp Stock Down 1.6 %

Shares of NASDAQ ABCB opened at $61.99 on Monday. Ameris Bancorp has a 12-month low of $36.81 and a 12-month high of $66.51. The firm’s 50-day simple moving average is $61.82 and its 200 day simple moving average is $55.11. 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 company has a market cap of $4.28 billion, a price-to-earnings ratio of 12.91 and a beta of 1.01.

Ameris Bancorp (NASDAQ:ABCB) last announced its earnings results on Thursday, October 24th. The bank reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.13. Ameris Bancorp had a net margin of 19.28% and a return on equity of 8.97%. The company had revenue of $424.86 million for the quarter, compared to analyst estimates of $290.60 million. During the same period in the prior year, the business earned $1.16 earnings per share. On average, research analysts expect that Ameris Bancorp will post 4.82 earnings per share for the current fiscal year.

Ameris Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.97%. Ameris Bancorp’s dividend payout ratio is 12.50%.

Institutional Trading of Ameris Bancorp

A number of large investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in Ameris Bancorp by 2.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 12,503 shares of the bank’s stock worth $780,000 after acquiring an additional 258 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Ameris Bancorp by 38.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,130 shares of the bank’s stock valued at $71,000 after purchasing an additional 311 shares in the last quarter. CWM LLC grew its position in shares of Ameris Bancorp by 33.5% in the 2nd quarter. CWM LLC now owns 1,310 shares of the bank’s stock valued at $66,000 after purchasing an additional 329 shares during the period. Arizona State Retirement System increased its stake in Ameris Bancorp by 1.8% during the 2nd quarter. Arizona State Retirement System now owns 18,359 shares of the bank’s stock worth $924,000 after purchasing an additional 331 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in Ameris Bancorp by 249.5% during the 3rd quarter. Blue Trust Inc. now owns 713 shares of the bank’s stock worth $44,000 after buying an additional 509 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.