Ameris Bancorp (NASDAQ:ABCB) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Ameris Bancorp (NASDAQ:ABCB) have received an average rating of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $70.50.

A number of research analysts have recently commented on ABCB shares. StockNews.com upgraded Ameris Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Keefe, Bruyette & Woods upped their price target on Ameris Bancorp from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Raymond James restated an “outperform” rating and set a $71.00 price objective (up from $67.00) on shares of Ameris Bancorp in a research report on Monday, February 3rd. Stephens restated an “equal weight” rating and set a $71.00 price objective on shares of Ameris Bancorp in a research report on Friday, January 31st. Finally, Truist Financial lowered their price objective on Ameris Bancorp from $73.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday, October 28th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Picton Mahoney Asset Management raised its stake in Ameris Bancorp by 2,436.8% during the fourth quarter. Picton Mahoney Asset Management now owns 482 shares of the bank’s stock worth $30,000 after acquiring an additional 463 shares in the last quarter. Blue Trust Inc. raised its stake in Ameris Bancorp by 249.5% during the third quarter. Blue Trust Inc. now owns 713 shares of the bank’s stock worth $44,000 after acquiring an additional 509 shares in the last quarter. R Squared Ltd acquired a new position in Ameris Bancorp during the fourth quarter worth $51,000. GAMMA Investing LLC raised its stake in Ameris Bancorp by 17.9% during the fourth quarter. GAMMA Investing LLC now owns 1,332 shares of the bank’s stock worth $83,000 after acquiring an additional 202 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in Ameris Bancorp by 167.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the bank’s stock worth $90,000 after acquiring an additional 896 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Ameris Bancorp Stock Up 0.1 %

Shares of ABCB stock opened at $66.73 on Friday. Ameris Bancorp has a 12 month low of $44.22 and a 12 month high of $74.56. The firm has a market cap of $4.61 billion, a PE ratio of 12.81 and a beta of 1.06. The stock has a 50 day moving average of $64.59 and a 200-day moving average of $63.50. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.20 per share. This is a positive change from Ameris Bancorp’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Tuesday, December 31st. Ameris Bancorp’s dividend payout ratio is currently 15.36%.

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.