Ameris Bancorp (NASDAQ:ABCB) Research Coverage Started at StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of Ameris Bancorp (NASDAQ:ABCB – Get Rating) in a report issued on Thursday. The firm set a “hold” rating on the bank’s stock.

ABCB has been the subject of several other reports. Keefe, Bruyette & Woods reduced their price target on Ameris Bancorp from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Tuesday, January 31st. Piper Sandler reissued an “overweight” rating and set a $62.00 price target on shares of Ameris Bancorp in a research report on Monday, December 5th. Truist Financial dropped their price objective on Ameris Bancorp from $60.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, February 1st. Finally, DA Davidson restated a “neutral” rating on shares of Ameris Bancorp in a research note on Friday, March 3rd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Ameris Bancorp has an average rating of “Moderate Buy” and a consensus target price of $55.50.

Ameris Bancorp Stock Up 0.1 %

ABCB stock opened at $36.79 on Thursday. The business has a 50-day moving average of $47.22 and a 200-day moving average of $48.43. Ameris Bancorp has a fifty-two week low of $34.28 and a fifty-two week high of $54.24. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.09 and a quick ratio of 1.07. The stock has a market capitalization of $2.55 billion, a P/E ratio of 7.37 and a beta of 1.13.

Ameris Bancorp (NASDAQ:ABCB – Get Rating) last issued its quarterly earnings results on Friday, January 27th. The bank reported $1.17 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.17). Ameris Bancorp had a net margin of 29.41% and a return on equity of 10.63%. The company had revenue of $272.49 million for the quarter, compared to analyst estimates of $281.13 million. During the same period last year, the company posted $1.17 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, sell-side analysts anticipate that Ameris Bancorp will post 5.17 earnings per share for the current fiscal year.

Insider Transactions at Ameris Bancorp

In other news, Director William I. Jr. Bowen bought 670 shares of the stock in a transaction dated Friday, March 10th. The shares were bought at an average price of $41.20 per share, for a total transaction of $27,604.00. Following the completion of the purchase, the director now owns 22,872 shares in the company, valued at $942,326.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ameris Bancorp

A number of large investors have recently made changes to their positions in ABCB. BlackRock Inc. increased its stake in Ameris Bancorp by 1.6% during the 3rd quarter. BlackRock Inc. now owns 10,150,631 shares of the bank’s stock worth $453,836,000 after acquiring an additional 158,483 shares during the period. Vanguard Group Inc. increased its stake in Ameris Bancorp by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,346,699 shares of the bank’s stock worth $328,470,000 after acquiring an additional 158,489 shares during the period. Wellington Management Group LLP increased its stake in Ameris Bancorp by 7.4% during the 1st quarter. Wellington Management Group LLP now owns 5,201,328 shares of the bank’s stock worth $228,235,000 after acquiring an additional 358,777 shares during the period. State Street Corp increased its stake in Ameris Bancorp by 14.3% during the 1st quarter. State Street Corp now owns 3,897,720 shares of the bank’s stock worth $171,622,000 after acquiring an additional 488,485 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Ameris Bancorp by 5.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,845,042 shares of the bank’s stock worth $181,256,000 after acquiring an additional 214,847 shares during the period. Institutional investors own 86.74% of the company’s stock.

Ameris Bancorp Company Profile

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Ameris Bancorp is a bank holding company, which through the subsidiary, Ameris Bank, engages in the provision of banking services to its retail and commercial customers. It operates through the following business segments: Banking, Retail Mortgage, Warehouse Lending, the SBA and Premium Finance. The Banking segment offers full service financial services to include commercial loans, consumer loans and deposit accounts.