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

Shares of Ameris Bancorp (NASDAQ:ABCB) have been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $67.00.

ABCB has been the subject of a number of research reports. Truist Financial lifted their price objective on Ameris Bancorp from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Friday. DA Davidson upped their price objective on Ameris Bancorp from $61.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Stephens boosted their target price on Ameris Bancorp from $52.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods boosted their target price on Ameris Bancorp from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, July 29th.

Hedge Funds Weigh In On Ameris Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Ameris Bancorp by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 723,345 shares of the bank’s stock valued at $38,373,000 after purchasing an additional 35,778 shares during the period. Teacher Retirement System of Texas raised its holdings in shares of Ameris Bancorp by 34.1% during the fourth quarter. Teacher Retirement System of Texas now owns 20,179 shares of the bank’s stock valued at $1,070,000 after acquiring an additional 5,133 shares during the period. QRG Capital Management Inc. purchased a new stake in shares of Ameris Bancorp in the 4th quarter valued at approximately $225,000. Vanguard Personalized Indexing Management LLC acquired a new position in Ameris Bancorp in the 4th quarter worth approximately $339,000. Finally, Norges Bank purchased a new position in Ameris Bancorp during the 4th quarter worth approximately $39,787,000. Institutional investors own 91.64% of the company’s stock.

Ameris Bancorp Stock Performance

Shares of Ameris Bancorp stock opened at $63.61 on Tuesday. Ameris Bancorp has a one year low of $34.26 and a one year high of $65.40. The company has a market cap of $4.40 billion, a price-to-earnings ratio of 15.48 and a beta of 1.02. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.03 and a current ratio of 1.05. The business’s 50 day moving average price is $59.63 and its 200 day moving average price is $52.21.

Ameris Bancorp (NASDAQ:ABCB) last posted its earnings results on Thursday, July 25th. The bank reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.03. Ameris Bancorp had a return on equity of 8.97% and a net margin of 19.28%. The company had revenue of $436.03 million for the quarter, compared to the consensus estimate of $273.67 million. During the same quarter in the previous year, the business earned $0.91 earnings per share. On average, research analysts predict that Ameris Bancorp will post 4.82 EPS for the current year.

Ameris Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 30th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Monday, September 30th. Ameris Bancorp’s dividend payout ratio (DPR) is 14.60%.

Ameris Bancorp Company Profile

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.