Ameris Bancorp (NASDAQ:ABCB) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Ameris Bancorp (NASDAQ:ABCB) have been assigned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $92.1667.

Several research firms have recently commented on ABCB. Morgan Stanley raised shares of Ameris Bancorp to an “overweight” rating in a research note on Wednesday, June 24th. Truist Financial upped their price objective on Ameris Bancorp from $85.00 to $89.00 and gave the stock a “hold” rating in a report on Monday, April 27th. Stephens increased their price objective on Ameris Bancorp from $87.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, April 27th. Raymond James Financial cut Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Finally, DA Davidson boosted their target price on Ameris Bancorp from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Sound Income Strategies LLC acquired a new stake in shares of Ameris Bancorp during the 4th quarter worth approximately $29,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Ameris Bancorp during the 3rd quarter valued at $45,000. Danske Bank A S acquired a new position in shares of Ameris Bancorp in the 3rd quarter valued at $51,000. Aster Capital Management DIFC Ltd lifted its stake in shares of Ameris Bancorp by 395.4% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 748 shares of the bank’s stock valued at $55,000 after purchasing an additional 597 shares during the period. Finally, Torren Management LLC bought a new position in shares of Ameris Bancorp in the 4th quarter worth $76,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Ameris Bancorp Stock Performance

Ameris Bancorp stock opened at $89.98 on Monday. The stock has a 50-day simple moving average of $86.21 and a 200 day simple moving average of $81.83. 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 has a 12-month low of $64.64 and a 12-month high of $92.44. The stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of 17.27 and a beta of 0.91.

Ameris Bancorp (NASDAQ:ABCB) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. The firm had revenue of $314.36 million for the quarter, compared to analyst estimates of $309.58 million. During the same quarter in the prior year, the firm earned $1.28 EPS. On average, research analysts anticipate that Ameris Bancorp will post 4.99 earnings per share for the current fiscal year.

Ameris Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Tuesday, June 30th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, June 30th. Ameris Bancorp’s dividend payout ratio (DPR) is presently 12.58%.

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.