Ameris Bancorp (NASDAQ:ABCB) Receives $69.17 Consensus PT from Brokerages

Shares of Ameris Bancorp (NASDAQ:ABCB) have been assigned an average rating of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $69.17.

ABCB has been the topic of a number of recent research reports. Truist Financial reduced their target price on shares of Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Stephens lifted their price objective on Ameris Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. StockNews.com upgraded shares of Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Raymond James raised shares of Ameris Bancorp from a “market perform” rating to an “outperform” rating and set a $67.00 price objective for the company in a research note on Monday, October 28th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Ameris Bancorp from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th.

Insider Buying and Selling

In related news, Director Robert Dale Ezzell sold 8,000 shares of Ameris Bancorp stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $69.91, for a total value of $559,280.00. Following the completion of the sale, the director now owns 27,444 shares in the company, valued at approximately $1,918,610.04. The trade was a 22.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC raised its stake in shares of Ameris Bancorp by 2.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 12,503 shares of the bank’s stock valued at $780,000 after purchasing an additional 258 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Ameris Bancorp by 38.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,130 shares of the bank’s stock worth $71,000 after buying an additional 311 shares during the last quarter. Arizona State Retirement System grew its position in shares of Ameris Bancorp by 1.8% in the 2nd quarter. Arizona State Retirement System now owns 18,359 shares of the bank’s stock worth $924,000 after acquiring an additional 331 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Ameris Bancorp by 249.5% in the 3rd quarter. Blue Trust Inc. now owns 713 shares of the bank’s stock valued at $44,000 after acquiring an additional 509 shares during the last quarter. Finally, Point72 DIFC Ltd raised its position in shares of Ameris Bancorp by 14.2% during the 3rd quarter. Point72 DIFC Ltd now owns 4,236 shares of the bank’s stock valued at $264,000 after acquiring an additional 526 shares in the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

Ameris Bancorp Stock Down 0.4 %

ABCB stock opened at $62.80 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.03 and a quick ratio of 1.01. The company’s 50 day simple moving average is $66.64 and its 200-day simple moving average is $60.85. Ameris Bancorp has a 12 month low of $44.00 and a 12 month high of $74.56. The firm has a market capitalization of $4.34 billion, a PE ratio of 13.08 and a beta of 1.03.

Ameris Bancorp (NASDAQ:ABCB) last announced its earnings results on Thursday, October 24th. The bank reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.13. Ameris Bancorp had a return on equity of 9.18% and a net margin of 20.08%. The firm had revenue of $424.86 million for the quarter, compared to analysts’ expectations of $290.60 million. During the same quarter in the prior year, the firm earned $1.16 EPS. Equities analysts expect that Ameris Bancorp will post 4.83 earnings per share for the current fiscal year.

Ameris Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.27%. This is a positive change from Ameris Bancorp’s previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, December 31st. Ameris Bancorp’s payout ratio is presently 16.67%.

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.