Ameris Bancorp (NASDAQ:ABCB) Receives $67.00 Consensus PT from Analysts

Shares of Ameris Bancorp (NASDAQ:ABCB) have been given an average recommendation of “Moderate Buy” by the five research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $67.00.

A number of research firms have recently commented on ABCB. Truist Financial upped their price objective on shares of Ameris Bancorp from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Stephens upped their price objective on shares of Ameris Bancorp from $52.00 to $64.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. DA Davidson boosted their target price on Ameris Bancorp from $61.00 to $76.00 and gave the stock a “buy” 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 stock an “outperform” rating in a report on Monday, July 29th.

Hedge Funds Weigh In On Ameris Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. 1620 Investment Advisors Inc. purchased a new position in Ameris Bancorp in the 2nd quarter worth approximately $33,000. GAMMA Investing LLC raised its position in shares of Ameris Bancorp by 66.1% in the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the bank’s stock valued at $41,000 after purchasing an additional 326 shares in the last quarter. CWM LLC raised its position in shares of Ameris Bancorp by 33.5% in the 2nd quarter. CWM LLC now owns 1,310 shares of the bank’s stock valued at $66,000 after purchasing an additional 329 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Ameris Bancorp in the 2nd quarter valued at approximately $143,000. Finally, SG Americas Securities LLC acquired a new position in shares of Ameris Bancorp in the 1st quarter valued at approximately $190,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Ameris Bancorp Trading Up 2.6 %

NASDAQ ABCB opened at $66.30 on Friday. Ameris Bancorp has a 12 month low of $34.26 and a 12 month high of $66.45. The company has a 50-day moving average of $60.60 and a 200-day moving average of $53.94. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.05 and a quick ratio of 1.03. The company has a market cap of $4.58 billion, a P/E ratio of 16.13 and a beta of 1.01.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings data 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 net margin of 19.28% and a return on equity of 8.97%. The company had revenue of $436.03 million during the quarter, compared to the consensus estimate of $273.67 million. During the same quarter in the prior year, the company posted $0.91 EPS. As a group, equities analysts predict that Ameris Bancorp will post 4.82 earnings per share for the current year.

Ameris Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend was Monday, September 30th. Ameris Bancorp’s dividend payout ratio is presently 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.