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

Ameris Bancorp (NASDAQ:ABCB) has earned a consensus rating of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $92.6667.

A number of research firms have issued reports on ABCB. Truist Financial increased their price target on Ameris Bancorp from $89.00 to $92.00 and gave the stock a “hold” rating in a report on Friday, July 10th. Piper Sandler lowered shares of Ameris Bancorp from an “overweight” rating to a “neutral” rating and set a $96.00 price objective for the company. in a research note on Sunday, July 12th. Stephens boosted their target price on shares of 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 lowered shares of Ameris Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 1st. Finally, Morgan Stanley upgraded shares of Ameris Bancorp to an “overweight” rating in a report on Wednesday, June 24th.

Institutional Trading of Ameris Bancorp

Several large investors have recently made changes to their positions in the company. Norges Bank acquired a new position in Ameris Bancorp during the 4th quarter worth approximately $62,673,000. North Reef Capital Management LP grew its stake in Ameris Bancorp by 38.2% in the fourth quarter. North Reef Capital Management LP now owns 2,737,028 shares of the bank’s stock valued at $203,279,000 after acquiring an additional 755,967 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new stake in Ameris Bancorp in the first quarter valued at approximately $42,270,000. Invesco Ltd. grew its stake in Ameris Bancorp by 134.7% in the third quarter. Invesco Ltd. now owns 931,911 shares of the bank’s stock valued at $68,318,000 after acquiring an additional 534,830 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of Ameris Bancorp by 31.3% during the fourth quarter. Jennison Associates LLC now owns 1,741,214 shares of the bank’s stock valued at $129,320,000 after acquiring an additional 414,920 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Ameris Bancorp Stock Down 0.9%

Shares of NASDAQ:ABCB opened at $89.03 on Friday. Ameris Bancorp has a 1 year low of $64.64 and a 1 year high of $93.22. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.00. The business’s 50-day moving average is $87.67 and its 200-day moving average is $83.24. The company has a market capitalization of $5.99 billion, a price-to-earnings ratio of 17.09 and a beta of 0.91.

Ameris Bancorp (NASDAQ:ABCB) last released its 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). The business had revenue of $317.78 million for the quarter, compared to analyst estimates of $323.78 million. Ameris Bancorp had a return on equity of 9.57% and a net margin of 21.46%.During the same period in the prior year, the business earned $1.59 EPS. Equities research analysts predict that Ameris Bancorp will post 4.99 earnings per share for the current year.

Ameris Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.80 annualized dividend and a dividend yield of 0.9%. Ameris Bancorp’s dividend payout ratio is currently 12.58%.

About Ameris Bancorp

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.