Ameris Bancorp (NASDAQ:ABCB) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Ameris Bancorp (NASDAQ:ABCB) have been given an average recommendation of “Moderate Buy” by the six brokerages that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $86.50.

Several equities analysts recently commented on the company. DA Davidson set a $94.00 target price on Ameris Bancorp in a research report on Monday, February 2nd. Stephens raised their target price on Ameris Bancorp from $79.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Monday, February 2nd. Keefe, Bruyette & Woods raised their target price on Ameris Bancorp from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Finally, Truist Financial raised their target price on Ameris Bancorp from $83.00 to $86.00 and gave the stock a “hold” rating in a research report on Monday, February 2nd.

Institutional Investors Weigh In On Ameris Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sound Income Strategies LLC acquired a new stake in Ameris Bancorp during the 4th quarter valued at $29,000. Salomon & Ludwin LLC acquired a new stake in Ameris Bancorp during the 3rd quarter valued at $33,000. Covestor Ltd increased its holdings in Ameris Bancorp by 51.5% during the 3rd quarter. Covestor Ltd now owns 547 shares of the bank’s stock valued at $40,000 after purchasing an additional 186 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in Ameris Bancorp during the 3rd quarter valued at $45,000. Finally, Danske Bank A S acquired a new stake in Ameris Bancorp during the 3rd quarter valued at $51,000. 91.60% of the stock is owned by institutional investors and hedge funds.

Ameris Bancorp Stock Performance

NASDAQ:ABCB opened at $85.19 on Wednesday. Ameris Bancorp has a 12-month low of $52.03 and a 12-month high of $87.98. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $5.82 billion, a PE ratio of 16.35 and a beta of 0.93. The firm has a 50-day moving average price of $79.64 and a 200 day moving average price of $77.34.

Ameris Bancorp (NASDAQ:ABCB) last posted its quarterly earnings results on Thursday, January 29th. The bank reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.03. The firm had revenue of $309.92 million during the quarter, compared to analyst estimates of $310.48 million. Ameris Bancorp had a net margin of 21.46% and a return on equity of 9.57%. During the same quarter in the prior year, the business posted $1.38 earnings per share. Research analysts anticipate that Ameris Bancorp will post 4.99 earnings per share for the current fiscal year.

Ameris Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 6th. Investors of record on Tuesday, March 31st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Tuesday, March 31st. Ameris Bancorp’s dividend payout ratio (DPR) is 13.33%.

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.