Ameris Bancorp (NASDAQ:ABCB) Receives $92.67 Consensus PT from Analysts

Ameris Bancorp (NASDAQ:ABCBGet Free Report) has been assigned a consensus rating of “Hold” from the seven ratings firms that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and three 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 $92.6667.

ABCB has been the subject of a number of research reports. DA Davidson lifted their price target on Ameris Bancorp from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Morgan Stanley raised shares of Ameris Bancorp to an “overweight” rating in a research note on Wednesday, June 24th. Piper Sandler lowered Ameris Bancorp from an “overweight” rating to a “neutral” rating and set a $96.00 price target on the stock. in a report on Sunday, July 12th. Stephens boosted their target price on Ameris Bancorp from $87.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, April 27th. Finally, Truist Financial raised their price objective on shares of Ameris Bancorp from $89.00 to $92.00 and gave the company a “hold” rating in a research report on Friday, July 10th.

Read Our Latest Stock Analysis on Ameris Bancorp

Institutional Investors Weigh In On Ameris Bancorp

Several institutional investors have recently made changes to their positions in the company. Sound Income Strategies LLC acquired a new position in Ameris Bancorp during the fourth quarter valued at approximately $29,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Ameris Bancorp in the third quarter valued at $45,000. Danske Bank A S acquired a new position in shares of Ameris Bancorp in the 3rd quarter valued at $51,000. Torren Management LLC bought a new position in Ameris Bancorp during the fourth quarter worth about $76,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Ameris Bancorp by 316.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,059 shares of the bank’s stock valued at $79,000 after buying an additional 805 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Ameris Bancorp Stock Performance

NASDAQ:ABCB opened at $87.38 on Friday. Ameris Bancorp has a fifty-two week low of $64.64 and a fifty-two week high of $93.22. The company has a market cap of $5.88 billion, a P/E ratio of 16.77 and a beta of 0.91. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The firm’s 50 day moving average is $87.77 and its two-hundred day moving average is $83.32.

Ameris Bancorp (NASDAQ:ABCBGet Free Report) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.06). Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.The business had revenue of $317.78 million during the quarter, compared to analyst estimates of $323.78 million. During the same period in the previous year, the company earned $1.59 EPS. Analysts expect that Ameris Bancorp will post 4.99 EPS for the current year.

Ameris Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. Ameris Bancorp’s dividend payout ratio (DPR) is presently 14.47%.

Key Headlines Impacting Ameris Bancorp

Here are the key news stories impacting Ameris Bancorp this week:

About Ameris Bancorp

(Get Free Report)

Ameris Bancorp is a bank holding company headquartered in Atlanta, Georgia. Through its principal subsidiary, Ameris Bank, the company offers a broad range of commercial and retail banking services to individuals, small businesses, middle market companies and agricultural customers. Its core business lines encompass deposit services, lending solutions, treasury management, mortgage origination and servicing, insurance products and wealth management.

Ameris Bancorp operates a network of branches and loan production offices across the southeastern United States, including Georgia, Alabama, Florida, North Carolina, South Carolina and Tennessee.

Further Reading

Analyst Recommendations for Ameris Bancorp (NASDAQ:ABCB)

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