DA Davidson Issues Positive Forecast for Ameris Bancorp (NASDAQ:ABCB) Stock Price

Ameris Bancorp (NASDAQ:ABCB) had its price objective raised by DA Davidson from $98.00 to $100.00 in a research note published on Monday, MarketBeat reports. The brokerage currently has a buy rating on the bank’s stock.

A number of other brokerages have also recently issued reports on ABCB. Raymond James Financial cut Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 1st. Piper Sandler cut their target price on shares of Ameris Bancorp from $96.00 to $92.00 and set a “neutral” rating for the company in a research report on Monday. Morgan Stanley upgraded shares of Ameris Bancorp to an “overweight” rating in a research note on Wednesday, June 24th. Stephens boosted their price target on shares of Ameris Bancorp from $87.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, April 27th. Finally, Truist Financial upped their price target on shares of Ameris Bancorp from $89.00 to $92.00 and gave the company a “hold” rating in a research note on Friday, July 10th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Ameris Bancorp has a consensus rating of “Hold” and an average target price of $92.00.

Ameris Bancorp Stock Performance

Shares of ABCB opened at $86.21 on Monday. The firm has a market cap of $5.80 billion, a PE ratio of 16.55 and a beta of 0.91. The stock’s fifty day moving average price is $87.82 and its two-hundred day moving average price is $83.39. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. Ameris Bancorp has a 1 year low of $65.43 and a 1 year high of $93.22.

Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported $1.60 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.06). The firm had revenue of $317.78 million for the quarter, compared to analysts’ expectations of $323.78 million. Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. During the same period in the prior year, the company earned $1.59 EPS. On average, equities research analysts forecast that Ameris Bancorp will post 4.99 EPS for the current year.

Ameris Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Tuesday, June 30th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend 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 is 14.47%.

Institutional Investors Weigh In On Ameris Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in shares of Ameris Bancorp by 5.2% in the second quarter. GAMMA Investing LLC now owns 2,546 shares of the bank’s stock worth $230,000 after buying an additional 125 shares in the last quarter. Inspire Investing LLC grew its stake in Ameris Bancorp by 2.0% during the fourth quarter. Inspire Investing LLC now owns 6,308 shares of the bank’s stock valued at $468,000 after acquiring an additional 125 shares in the last quarter. Maryland State Retirement & Pension System grew its stake in Ameris Bancorp by 1.4% during the fourth quarter. Maryland State Retirement & Pension System now owns 9,365 shares of the bank’s stock valued at $696,000 after acquiring an additional 133 shares in the last quarter. HighTower Advisors LLC increased its holdings in Ameris Bancorp by 1.6% during the 4th quarter. HighTower Advisors LLC now owns 9,054 shares of the bank’s stock worth $672,000 after acquiring an additional 143 shares during the period. Finally, Lido Advisors LLC increased its holdings in Ameris Bancorp by 2.6% during the 4th quarter. Lido Advisors LLC now owns 6,456 shares of the bank’s stock worth $476,000 after acquiring an additional 162 shares during the period. 91.60% of the stock is currently owned by institutional investors.

Ameris Bancorp Company Profile

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.