Ameris Bancorp (NASDAQ:ABCB) Receives $91.67 Consensus Target Price from Analysts

Shares of Ameris Bancorp (NASDAQ:ABCB) have been given an average rating of “Hold” by the seven ratings firms that are presently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $91.6667.

Several analysts have commented on ABCB shares. Stephens set a $88.00 price target on Ameris Bancorp in a report on Monday, July 27th. Morgan Stanley upgraded Ameris Bancorp to an “overweight” rating in a research note on Wednesday, June 24th. Truist Financial lowered their price objective on Ameris Bancorp from $92.00 to $90.00 and set a “hold” rating for the company in a report on Tuesday, July 28th. Piper Sandler cut their price target on Ameris Bancorp from $96.00 to $92.00 and set a “neutral” rating on the stock in a report on Monday, July 27th. Finally, Raymond James Financial lowered Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 1st.

Institutional Trading of Ameris Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of ABCB. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Ameris Bancorp during the 2nd quarter valued at $34,000. Measured Wealth Private Client Group LLC acquired a new stake in Ameris Bancorp during the 3rd quarter worth about $45,000. Danske Bank A S acquired a new stake in Ameris Bancorp during the 3rd quarter worth about $51,000. Public Employees Retirement System of Ohio purchased a new position in Ameris Bancorp during the 2nd quarter valued at about $66,000. Finally, Allworth Financial LP purchased a new position in Ameris Bancorp during the 2nd quarter valued at about $67,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

Ameris Bancorp Trading Down 0.2%

Shares of Ameris Bancorp stock opened at $86.00 on Tuesday. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of 16.51 and a beta of 0.92. Ameris Bancorp has a 52-week low of $68.80 and a 52-week high of $93.22. The company’s 50-day simple moving average is $88.93 and its 200-day simple moving average is $84.50. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11.

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

Ameris Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Tuesday, June 30th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Ameris Bancorp’s dividend payout ratio is presently 14.47%.

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.