Brokerages Set Ameris Bancorp (NASDAQ:ABCB) PT at $66.20

Shares of Ameris Bancorp (NASDAQ:ABCB) have received a consensus recommendation of “Moderate Buy” from the five analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $66.20.

A number of analysts have recently weighed in on ABCB shares. DA Davidson upped their price target on shares of Ameris Bancorp from $61.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Stephens lifted their price target on Ameris Bancorp from $52.00 to $64.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods lifted their target price on Ameris Bancorp from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Finally, Truist Financial upped their price target on shares of Ameris Bancorp from $54.00 to $69.00 and gave the company a “buy” rating in a report on Monday, July 29th.

Ameris Bancorp Trading Up 4.3 %

Shares of ABCB opened at $65.29 on Tuesday. The company has a market capitalization of $4.51 billion, a P/E ratio of 15.72 and a beta of 1.02. The stock has a 50-day moving average price of $59.08 and a 200 day moving average price of $51.81. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.03 and a current ratio of 1.05. Ameris Bancorp has a one year low of $34.26 and a one year high of $65.40.

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

Institutional Trading of Ameris Bancorp

Several large investors have recently modified their holdings of ABCB. Vanguard Group Inc. grew its holdings in Ameris Bancorp by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 7,560,371 shares of the bank’s stock valued at $365,771,000 after buying an additional 92,491 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Ameris Bancorp by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,374,719 shares of the bank’s stock worth $220,263,000 after purchasing an additional 45,240 shares during the period. Independent Advisor Alliance increased its stake in Ameris Bancorp by 0.8% during the second quarter. Independent Advisor Alliance now owns 2,533,580 shares of the bank’s stock valued at $127,566,000 after acquiring an additional 19,287 shares during the period. Principal Financial Group Inc. raised its stake in shares of Ameris Bancorp by 3.0% in the first quarter. Principal Financial Group Inc. now owns 1,254,903 shares of the bank’s stock valued at $60,712,000 after purchasing an additional 36,873 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Ameris Bancorp by 1.6% during the second quarter. Victory Capital Management Inc. now owns 851,240 shares of the bank’s stock worth $42,860,000 after buying an additional 13,418 shares in the last quarter. 91.64% of the stock is owned by 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.