Ameris Bancorp (NASDAQ:ABCB) Receives $71.43 Consensus PT from Analysts

Ameris Bancorp (NASDAQ:ABCB) has been given a consensus rating of “Moderate Buy” by the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $71.43.

A number of equities research analysts have issued reports on the company. Piper Sandler Companies boosted their price target on Ameris Bancorp to $74.00 and gave the company a “buy” rating in a research report on Monday, April 7th. Raymond James Financial decreased their target price on Ameris Bancorp from $71.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Piper Sandler initiated coverage on Ameris Bancorp in a report on Friday, April 4th. They set an “overweight” rating and a $74.00 target price for the company. Finally, Stephens reiterated an “equal weight” rating and set a $63.00 price objective on shares of Ameris Bancorp in a research note on Tuesday, April 29th.

Hedge Funds Weigh In On Ameris Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABCB. Captrust Financial Advisors boosted its stake in Ameris Bancorp by 4.6% during the fourth quarter. Captrust Financial Advisors now owns 3,975 shares of the bank’s stock worth $249,000 after buying an additional 175 shares during the period. SageView Advisory Group LLC lifted its stake in Ameris Bancorp by 2.5% during the first quarter. SageView Advisory Group LLC now owns 7,107 shares of the bank’s stock worth $409,000 after purchasing an additional 176 shares during the last quarter. State of Wyoming lifted its position in Ameris Bancorp by 8.3% in the first quarter. State of Wyoming now owns 2,346 shares of the bank’s stock valued at $135,000 after acquiring an additional 179 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Ameris Bancorp by 73.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 492 shares of the bank’s stock valued at $32,000 after purchasing an additional 208 shares during the last quarter. Finally, Summit Investment Advisors Inc. lifted its stake in Ameris Bancorp by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,887 shares of the bank’s stock valued at $431,000 after buying an additional 218 shares during the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.

Ameris Bancorp Price Performance

Ameris Bancorp stock opened at $66.45 on Monday. Ameris Bancorp has a 1 year low of $48.27 and a 1 year high of $74.56. The firm has a 50 day moving average price of $63.31 and a 200 day moving average price of $61.25. The company has a market cap of $4.58 billion, a price-to-earnings ratio of 12.76 and a beta of 0.93. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.02.

Ameris Bancorp (NASDAQ:ABCB) last announced its quarterly earnings data on Monday, April 28th. The bank reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.16. Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. The company had revenue of $285.86 million during the quarter, compared to analysts’ expectations of $276.06 million. During the same period in the previous year, the company earned $1.10 EPS. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. Sell-side analysts predict that Ameris Bancorp will post 4.99 earnings per share for the current year.

Ameris Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 7th. Stockholders of record on Monday, June 30th were paid a $0.20 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.80 annualized dividend and a dividend yield of 1.20%. Ameris Bancorp’s dividend payout ratio (DPR) is presently 14.81%.

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.