Ameris Bancorp (NASDAQ:ABCB) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Ameris Bancorp (NASDAQ:ABCB) have been given a consensus rating of “Moderate Buy” by the five analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $67.00.

ABCB has been the topic of several analyst reports. DA Davidson increased their target price 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 increased their target price on Ameris Bancorp from $52.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods increased their target price on Ameris Bancorp from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Finally, Truist Financial increased their target price on Ameris Bancorp from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, September 20th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Jupiter Asset Management Ltd. bought a new position in shares of Ameris Bancorp in the first quarter worth $3,869,000. Allspring Global Investments Holdings LLC grew its stake in shares of Ameris Bancorp by 75.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 416,557 shares of the bank’s stock worth $20,153,000 after purchasing an additional 178,500 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Ameris Bancorp in the first quarter worth $1,154,000. Congress Asset Management Co. MA grew its stake in shares of Ameris Bancorp by 5.5% in the first quarter. Congress Asset Management Co. MA now owns 767,156 shares of the bank’s stock worth $37,115,000 after purchasing an additional 40,323 shares in the last quarter. Finally, Seven Eight Capital LP boosted its stake in Ameris Bancorp by 218.6% during the first quarter. Seven Eight Capital LP now owns 22,363 shares of the bank’s stock valued at $1,082,000 after buying an additional 15,343 shares in the last quarter. Institutional investors own 91.64% of the company’s stock.

Ameris Bancorp Stock Performance

Shares of ABCB opened at $66.30 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 0.30. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 16.13 and a beta of 1.01. Ameris Bancorp has a 52-week low of $34.26 and a 52-week high of $66.45. The business’s 50 day moving average is $60.60 and its two-hundred day moving average is $53.94.

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

Ameris Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were paid a $0.15 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.60 annualized dividend and a dividend yield of 0.90%. Ameris Bancorp’s payout ratio is 14.60%.

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.